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2023 SESSION
23101605DPatrons-- Coyner, Avoli, Bloxom, Cordoza, Durant, Fariss, Head, Hodges, Leftwich, Runion, Tata, Taylor, Wiley and Williams; Senator: DeSteph
Be it enacted by the General Assembly of Virginia:
1. That § 62.1-44.15:23.1 of the Code of Virginia is amended and reenacted as follows:
§ 62.1-44.15:23.1. Wetland and Stream Replacement Fund established.
There is hereby created in the state treasury a special
nonreverting fund to be known as the Wetland and Stream Replacement Fund,
hereafter referred to as "the Fund." The Fund shall be established on
the books of the Comptroller. All contributions to the Board pursuant to clause
(iii) of subsection B of § 62.1-44.15:21 shall be paid into the state treasury
and credited to the Fund. Interest earned on moneys in the Fund shall remain in
the Fund and be credited to it. Any moneys remaining in the Fund, including
interest thereon, at the end of each fiscal year shall not revert to the
general fund but shall remain in the Fund. The Fund shall be administered and
utilized by the Department of Environmental
Quality. The Fund may be used as an additional mechanism
for compensatory mitigation for impacts to aquatic resources (i) that result
from activities authorized under (a) Section 404 and 401 of the Clean Water Act
(33 U.S.C. § 1251 et seq.), (b) the Virginia Water Protection Permit Regulation
(9 VAC 25-210 et seq.), or (c) Section 10 of the Rivers and Harbors Act (33
U.S.C. § 403); (ii) that result from unauthorized activities in waters of the
United States or state waters; and (iii) in other cases, as the appropriate
regulatory agencies deem acceptable. Moneys in the Fund shall be used for the
purpose of purchasing mitigation bank credits in compliance with the provisions
of subsection B of § 62.1-44.15:23 as soon as practicable
if qualifying credits are available
after moneys are collected. If
such the Department
determines within two years
after the collection of moneys for a specific impact
that credits are
will not available within three years of the collection of moneys for a such specific impact, then funds
shall may be utilized either (1) to purchase credits from a
Board-approved fund that have met the success criteria, if qualifying credits
are available, (2) for the planning, construction, monitoring, and preservation
of wetland and stream mitigation projects and preservation, enhancement, or
restoration of upland buffers adjacent to wetlands or other state waters when
used in conjunction with creation or restoration of wetlands and streams, or
(3) for other water quality improvement projects as deemed acceptable by the
Department of Environmental
Quality. Such projects developed under clause (2) shall be
developed in accordance with guidelines, responsibilities, and standards
established by the Department of Environmental
Quality for use, operation, and maintenance consistent with
33 CFR Part 332, governing compensatory mitigation for activities authorized by
U.S. Army Corps of Engineer permits. Expenditures and disbursements from the
Fund shall be made by the State Treasurer on warrants issued by the Comptroller
upon written request signed by the Director of the Department of Environmental Quality. The
Department may charge a reasonable fee to administer the Fund.