VIRGINIA LAW PORTAL

• Code of Virginia
• Virginia Administrative Code
• Constitution of Virginia
• Charters
• Authorities
• Compacts
• Uncodified Acts
• RIS Users (account required)

SEARCHABLE DATABASES

• Bills & Resolutions
  session legislation
• Bill Summaries
  session summaries
• Reports to the General Assembly
  House and Senate documents
• Legislative Liaisons
  State agency contacts

ACROSS SESSIONS

• Subject Index: Since 1995
• Bills & Resolutions: Since 1994
• Summaries: Since 1994

Developed and maintained by the Division of Legislative Automated Systems.

2022 SESSION

• history | hilite | pdf | print version

22103118D
HOUSE BILL NO. 395 Offered January 12, 2022 Prefiled January 11, 2022 A BILL to amend and reenact § 10.1-1186.6 of the Code of Virginia, relating to carbon offset credits; Marine Habitat and Waterways Improvement Fund. ---------- Patron-- Willett ---------- Referred to Committee on Agriculture, Chesapeake and Natural Resources ----------

Be it enacted by the General Assembly of Virginia:

1. That § 10.1-1186.6 of the Code of Virginia is amended and reenacted as follows:

§ 10.1-1186.6. Carbon market participation; submerged aquatic vegetation.

The Department may participate in any carbon market for which submerged aquatic vegetation restoration qualifies as an activity that generates carbon offset credits. Any revenue resulting from the sale of such credits shall be paid into the state treasury and credited to the Marine Habitat and Waterways Improvement Fund established pursuant to § 28.2-1204.2 to be used to implement additional submerged aquatic vegetation monitoring and research or to cover any administrative costs of participation in the credit market. The Department may enter into agreements necessary to effect such participation, including with private entities for assistance with registration and sale of offset credits. The Department shall hold exclusive title to such credits until sold.