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2023 SESSION
23103834DBe it enacted by the General Assembly of Virginia:
1. That §§ 62.1-198, 62.1-199, and 62.1-218 of the Code of Virginia are amended and reenacted as follows:
§ 62.1-198. Legislative findings and purposes.
The General Assembly finds that there exists in the Commonwealth
a critical need for additional sources of funding to finance the present and
future needs of the Commonwealth for water supply; land conservation or land
preservation, including land for parks and
other recreational purposes; oyster restoration projects, including planting
and replanting with seed oysters, oyster shells, or other material that will
catch, support, and grow oysters; wastewater treatment facilities; drainage
facilities; solid waste treatment, disposal,
and management facilities; recycling facilities; resource recovery facilities;
energy conservation and energy efficiency projects; professional sports
facilities; certain heavy rail transportation facilities; public safety
facilities; airport facilities; the remediation of brownfields and contaminated
properties, including properties contaminated by defective drywall; the design
and construction of roads, public parking garages,
and other public transportation facilities, and facilities for public
transportation by commuter rail; construction of local government buildings,
including administrative and operations systems and other local government
equipment and infrastructure; site acquisition and site development work for
economic and development
projects; community development projects, to include projects related to
the production and preservation of housing, including
housing for persons and families of low and moderate income;
recovered gas energy facilities; the location or retention of federal
facilities in the Commonwealth and the support of the transition of former
federal facilities from use by the federal government to other uses; and
renewable energy projects, including solar, wind, biomass, waste-to-energy, and
geothermal. This need can be alleviated in part through the creation of a
resources authority. Its purpose is to encourage the investment of both public
and private funds and to make loans, grants, and credit enhancements available
to local governments to finance water and sewer projects,; land conservation or land preservation
programs or projects,; oyster restoration projects,;
drainage projects,; solid waste treatment,
disposal, and management projects,;
recycling projects,; energy conservation and
energy efficiency projects,; professional sports
facilities,;
resource recovery projects,; public safety facilities,;
airport facilities,; the remediation of
brownfields and contaminated properties,
including properties contaminated by defective drywall,; the design and construction
of roads, public parking garages, and other
public transportation facilities, and facilities for public transportation by
commuter rail,;
site acquisition and site development work for the benefit of economic
development projects,; community development
projects, to include projects related
to the production and preservation of housing, including
housing for persons and families of low and moderate
income; technology,;
construction of local government buildings, including administrative and
operations systems and other local government equipment and infrastructure,;
infrastructure for broadband services,; recovered gas energy
facilities,;
federal facilities or former federal facilities,; and renewable energy
projects. The General Assembly determines that the creation of an authority for
this purpose is in the public interest, serves a public purpose, and will promote the health,
safety, welfare, convenience, or
prosperity of the people of the Commonwealth.
§ 62.1-199. Definitions.
As used in this chapter, unless a different
meaning clearly appears from the context requires a different meaning:
"Authority" means the Virginia Resources Authority created by this chapter.
"Board of Directors" means the Board of Directors of the Authority.
"Bonds" means any bonds, notes, debentures, interim certificates, bond, grant or revenue anticipation notes, lease and sale-leaseback transactions, or any other obligations of the Authority for the payment of money.
"Capital Reserve Fund" means the reserve fund created and established by the Authority in accordance with § 62.1-215.
"Cost," as applied to any project financed under the
provisions of this chapter, means the total of all costs incurred by the local
government as reasonable and necessary for carrying out all works and
undertakings necessary or incident to the accomplishment of any project. It includes,
without limitation, all necessary developmental, planning and feasibility
studies, surveys, plans and specifications, architectural, engineering,
financial, legal or other special services, the cost of acquisition of land and
any buildings and improvements thereon, including the discharge of any
obligations of the sellers of such land, buildings or improvements, real estate
appraisals, site preparation and development, including demolition or removal
of existing structures, construction and reconstruction, labor, materials,
machinery and equipment, the reasonable costs of financing incurred by the
local government in the course of the development of the project, including the
cost of any credit enhancements, carrying charges incurred before placing the
project in service, interest on local obligations issued to finance the project
to a date subsequent to the estimated date the project is to be placed in
service, necessary expenses incurred in connection with placing the project in
service, the funding of accounts and reserves which the Authority may require, and the cost of other items
which the Authority determines to be reasonable and necessary. It also includes
the amount of any contribution, grant, or aid
which a local government may make or give to any adjoining state, the District
of Columbia or any department, agency, or
instrumentality thereof to pay the costs incident and necessary to the
accomplishment of any project, including, without limitation, the items set
forth above. The term
"Cost" also includes interest and principal
payments pursuant to any installment purchase agreement.
"Credit enhancements" means surety bonds, insurance policies, letters of credit, guarantees, and other forms of collateral or security.
"Defective drywall" means the same as that term is defined in § 36-156.1.
"Federal facility" means any building or infrastructure used or to be used by the federal government, including any building or infrastructure located on lands owned by the federal government.
"Federal government" means the United States of America, or any department, agency, or instrumentality, corporate or otherwise, of the United States of America.
"Former federal facility" means any federal facility formerly used by the federal government or in transition from use by the federal government to a facility all or part of which is to serve any local government.
"Local government" means any county, city, town, municipal corporation, authority, district, commission, or political subdivision created by the General Assembly or pursuant to the Constitution and laws of the Commonwealth or any combination of any two or more of the foregoing.
"Local obligations" means any bonds, notes, debentures, interim certificates, bond, grant or revenue anticipation notes, leases, credit enhancements, or any other obligations of a local government for the payment of money.
"Minimum capital reserve fund requirement" means, as of any particular date of computation, the amount of money designated as the minimum capital reserve fund requirement which may be established in the resolution of the Authority authorizing the issuance of, or the trust indenture securing, any outstanding issue of bonds or credit enhancement.
"Project" means (i) any water supply or wastewater
treatment facility, including a facility for receiving and stabilizing septage
or a soil drainage management facility, and any solid waste treatment,
disposal, or management facility, recycling facility, federal facility or
former federal facility, or resource recovery facility located or to be located
in the Commonwealth, the District of Columbia, or any adjoining state, all or
part of which facility serves or is to serve any local government, and (ii) any
federal facility located or to be located in the Commonwealth, provided that
both the Board of Directors of the Authority and the governing body of the
local government receiving the benefit of the loan, grant, or credit
enhancement from the Authority make a determination or finding to be embodied
in a resolution or ordinance that the undertaking and financing of such
facility is necessary for the location or retention of such facility and the
related use by the federal government in the Commonwealth. The term includes,
without limitation, water supply and intake facilities; water treatment and
filtration facilities; water storage facilities; water distribution facilities;
sewage and wastewater (including surface and ground water) collection,
treatment, and disposal facilities; drainage facilities and projects; solid
waste treatment, disposal, or management facilities; recycling facilities;
resource recovery facilities; related office, administrative, storage,
maintenance, and laboratory facilities; and interests in land related thereto.
The term also includes energy conservation measures and facility technology
infrastructure as defined in § 45.2-1702 and other energy objectives as defined
in § 45.2-1706.1. The term also means any heavy rail transportation facilities
operated by a transportation district created under the Transportation District
Act of 1964 (§ 33.2-1900 et seq.) that operates heavy rail freight service,
including rolling stock, barge loading facilities, and any related marine or
rail equipment. The term also means, without limitation, the design and
construction of roads, the construction of local government buildings,
including administrative and operations systems and other local government
equipment and infrastructure, public parking garages and other public
transportation facilities, and facilities for public transportation by commuter
rail. In addition, the term means any project as defined in § 5.1-30.1 or
10.1-603.28 and any professional sports facility, including a major league
baseball stadium as defined in § 15.2-5800, provided that the specific
professional sports facility projects have been designated by the General
Assembly as eligible for assistance from the Authority. The term also means any
equipment, facilities, and technology infrastructure designed to provide
broadband service. The term also means facilities supporting, related to, or
otherwise used for public safety, including but not limited to law-enforcement
training facilities and emergency response, fire, rescue, and police stations.
The term also means the remediation, redevelopment, and rehabilitation of
property contaminated by the release of hazardous substances, hazardous wastes,
solid wastes, or petroleum, where such remediation has not clearly been
mandated by the United States Environmental Protection Agency, the Department
of Environmental Quality, or a court pursuant to the Comprehensive
Environmental Response, Compensation and Liability Act (42 U.S.C. § 9601 et
seq.), the Resource Conservation and Recovery Act (42 U.S.C. § 6901 et seq.),
the Virginia Waste Management Act (§ 10.1-1400 et seq.), the State Water
Control Law (§ 62.1-44.2 et seq.), or other applicable statutory or common law
or where jurisdiction of those statutes has been waived. The term also means
any program or project for land conservation, parks, park facilities, land for
recreational purposes, or land preservation, including but not limited to any
program or project involving the acquisition of rights or interests in land for
the conservation or preservation of such land. The term also means any dredging
program or dredging project undertaken to benefit the economic and community
development goals of a local government but does not include any dredging
program or dredging project undertaken for or by the Virginia Port Authority.
The term also means any oyster restoration project, including planting and
replanting with seed oysters, oyster shells, or other material that will catch,
support, and grow oysters. The term also means any program or project to
perform site acquisition or site development work for the benefit of economic
and community development projects for any local government. The term also
means any undertaking by a local government to build or facilitate the building production
or preservation of housing or
a recovered gas energy facility; and
any local government renewable energy project, including solar, wind, biomass,
waste-to-energy, and geothermal projects. The term also means any undertaking
by a local government to facilitate the remediation of residential properties
contaminated by the presence of defective drywall. The term
also means any undertaking by a local government to provide grants, loans,
financial assistance, or any other incentives pursuant to § 15.2-958.
"Recovered gas energy facility" means a facility, located at or adjacent to (i) a solid waste management facility permitted by the Department of Environmental Quality or (ii) a sewerage system or sewage treatment work described in § 62.1-44.18 that is constructed and operated for the purpose of treating sewage and wastewater for discharge to state waters, which facility or work is constructed and operated for the purpose of (a) reclaiming or collecting methane or other combustible gas from the biodegradation or decomposition of solid waste, as defined in § 10.1-1400, that has been deposited in the solid waste management facility or sewerage system or sewage treatment work and (b) either using such gas to generate electric energy or upgrading the gas to pipeline quality and transmitting it off premises for sale or delivery to commercial or industrial purchasers or to a public utility or locality.
§ 62.1-218. Grants to local governments.
The Authority shall have the power and authority, with any
funds of the Authority available for this purpose, to make grants to local
governments. In determining which local governments are to receive grants, the
Department of Environmental Quality, the Department of Health, the Department of Housing and Community
Development, and the Virginia Waste Management Board shall
assist the Authority in determining needs for wastewater treatment facilities,;
water supply facilities,; solid waste treatment,
disposal, or management facilities,; housing,
including housing for persons and families of low and
moderate income; or recycling facilities, and the method
and form of such grants.