SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2020 SESSION

House Bills with Recommendations by the Governor

prev | next | current | calendar

H.B. 22. An Act to amend and reenact §§ 10.1-603.24 and 10.1-603.25 of the Code of Virginia, relating to Virginia Community Flood Preparedness Fund; loans.

Patrons--Lindsey, Convirs-Fowler and Keam

Passed the House of Delegates February 11, 2020 (99-Y 0-N)

GOVERNOR'S RECOMMENDATION

 

    1. Line 40, enrolled, after continued
      strike
        the remainder of line 40 and through nonreverting on line 41
      insert
        as a permanent and perpetual

 

    2. Line 41, enrolled, after Preparedness Fund
      strike
        the remainder of line 41 and through Comptroller on line 42

 

    3. Line 42, enrolled, after All
      insert
        sums that are designated for deposit, for the purpose of assisting localities and their residents affected by recurrent flooding, sea level rise, and flooding from severe weather events, in the Fund from revenue generated by the sale of emissions allowances, all

 

    4. Line 47, enrolled, after be
      strike
        the remainder of line 47 and through credited on line 48
      insert
        designated for deposit

 

    5. Line 49, enrolled, after including
      insert
        any appropriated funds and all principal,

 

    6. Line 49, enrolled, after interest
      strike
        thereon
      insert
        accrued, and payments

 

    7. Line 51, enrolled, after enhancing
      strike
        resiliency
      insert
        flood prevention or protection and coastal resilience

 

    8. Line 55, enrolled, after article.
      strike
        the remainder of line 55, all of line 56, and through of the Authority. on line 57
    9. Line 58, enrolled, after article
      insert
        in accordance with a memorandum of agreement with the Department

 

    10. Line 59, enrolled, after of the Fund.
      insert
        The Department shall direct distribution of loans and grants from the Fund in accordance with the provisions of subsection D.

 

    11. Line 60, enrolled, after C.
      insert
        The Authority is authorized at any time and from time to time to pledge, assign, or transfer from the Fund or any bank or trust company designated by the Authority any or all of the assets of the Fund to be held in trust as security for the payment of principal of, premium, if any, and interest on any and all bonds, as defined in § 62.1-199, issued to finance any flood prevention or protection project undertaken pursuant to the provisions of this article. In addition, the Authority is authorized at any time and from time to time to sell upon such terms and conditions as the Authority deems appropriate any loan or interest thereon made pursuant to this article. The net proceeds of the sale remaining after payment of costs and expenses shall be designated for deposit to, and become part of, the Fund.
        D.

 

    12. At the beginning of line 65, enrolled
      strike
        D
      insert
        E

 

    13. Line 70, enrolled, after of the
      strike
        money
      insert
        moneys

 

    14. Line 72, enrolled, after activities
      strike
        and
      insert
        that

 

    15. At the beginning of line 73, enrolled
      strike
        E
      insert
        F

 

    16. At the beginning of line 79, enrolled
      strike
        F
      insert
        G