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HB596: Flood Prevention and Protection Assistance Fund; Fund includes dam safety, report.

Chief Patron

Del. Beverly Sherwood (R-29)

Beverly Sherwood (R-29)
Winchester, VA
Served: 1994–

Progress

Yes Introduced
Yes Passed Committee
Yes Passed House
Yes Passed Senate
Yes Signed by Governor
Yes Became Law

Status

04/05/2006: signed by governor

View Entire History

Summary

Dam and flood assistance fund.  Reconstitutes the current Flood Prevention and Protection Assistance Fund into the new Dam Safety, Flood Prevention and Protection Assistance Fund. The new fund will be used to make loans and grants to local governments and loans to private entities to finance the cost of implementing projects to prevent, reduce, or mitigate damages caused by flooding, to upgrade dams or impounding structures, and to fund flood prevention studies.  The Virginia Resources Authority would administer and manage the fund, determining the interest rate and terms and conditions of any loan from the Fund in accordance with a memorandum of understanding with the Director of the Department of Conservation and Recreation.  The language establishing the Fund is modeled after language creating the Virginia Resources Authority, the Virginia Water Facilities Revolving Fund, and the Virginia Water Supply Revolving Fund. This bill is identical to SB 624.   View Full Text »

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Bill Text

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