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2020 SESSION

House Bills with Recommendations by the Governor

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H.B. 981. An Act to amend and reenact §§ 10.1-603.24 and 10.1-603.25 of the Code of Virginia and to amend the Code of Virginia by adding in Chapter 13 of Title 10.1 an article numbered 4, consisting of sections numbered 10.1-1329, 10.1-1330, and 10.1-1331, relating to Clean Energy and Community Flood Preparedness Act; fund.

• 03/02/20 House: Bill text as passed House and Senate (HB981ER)
• 02/25/20 Senate: Committee substitute printed 20108602D-S2
• 02/18/20 Senate: Committee substitute printed 20108601D-S1
• 02/04/20 House: Committee substitute printed 20106683D-H1
• 01/07/20 House: Prefiled and ordered printed; offered 01/08/20 20105070D

Patrons--Herring, Bagby, Lindsey, Lopez, Adams, D.M., Jenkins and Keam

Passed the House of Delegates February 11, 2020 (53-Y 46-N)

Senate substitute agreed to by House February 26, 2020 (50-Y 43-N)

GOVERNOR'S RECOMMENDATION

 

1. Line 43, enrolled, after continued

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the remainder of line 43 and through nonreverting on line 44

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as a permanent and perpetual

 

2. Line 44, enrolled, after Preparedness Fund.

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the remainder of line 44 and through Comptroller. on line 45

 

3. Line 51, enrolled, after be

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the remainder of line 51 and through credited [first instance] on line 52

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designated for deposit

 

4. Line 53, enrolled, after including

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any appropriated funds and all principal,

 

5. Line 53, enrolled, after interest

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thereon

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accrued, and payments

 

6. Line 60, enrolled, after article.

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the remainder of line 60, all of line 61, and through of the Authority. on line 62

 

7. Line 63, enrolled, after article

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in accordance with a memorandum of agreement with the Department

 

8. Line 64, enrolled, after of the Fund.

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The Department shall direct distribution of loans and grants from the Fund in accordance with the provisions of subsection D.

 

9. Line 65, enrolled, after C.

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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.

 

10. At the beginning of line 70, enrolled

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D

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E

 

11. At the beginning of line 78, enrolled

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E

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F

 

12. At the beginning of line 84, enrolled

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F

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G