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2020 SESSION
House Bills with Recommendations by the Governor
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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.
- 03/04/20 House: Bill text as passed House and Senate (HB22ER)
- 02/07/20 House: Committee substitute printed 20107999D-H1
- 11/19/19 House: Prefiled and ordered printed; offered 01/08/20 20100479D
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
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D
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E
13. Line 70, enrolled, after of the
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money
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moneys
14. Line 72, enrolled, after activities
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and
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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