Commonwealth Resilience Fund; established. (SB571)

Introduced By

Sen. Don McEachin (D-Richmond)

Progress

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

Description

Regional Greenhouse Gas Initiative; Commonwealth Resilience Fund established. Requires the Governor to join the Regional Greenhouse Gas Initiative that established a regional CO2 electric power sector cap and trade program and establishes the Commonwealth Resilience Fund, a revolving fund to serve as a consistent revenue stream to assist counties, cities, and towns with the implementation of adaptation efforts to combat sea level rise and recurrent flooding. The bill also provides economic development assistance for families, businesses, and localities in Southwest Virginia to offset negative economic impacts associated with reduced fossil fuel production. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/13/2016Prefiled and ordered printed; offered 01/13/16 16103863D
01/13/2016Referred to Committee on Agriculture, Conservation and Natural Resources
02/04/2016Impact statement from DPB (SB571)
02/04/2016Failed to report (defeated) in Agriculture, Conservation and Natural Resources (7-Y 8-N) (see vote tally)