Resilient Virginia Revolving Loan Fund; created. (HB845)

Introduced By

Progress

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

Description

Virginia Resources Authority; Resilient Virginia Revolving Loan Fund. Creates the Resilient Virginia Revolving Loan Fund, for which sums are appropriated by the General Assembly, and that is administered and managed by the Virginia Resources Authority, with oversight given to the Soil and Water Conservation Board. The bill provides guidelines for deposits, expenditures, and investments and requires an annual audit of the Authority. The Authority can collect money for the Fund. The bill provides that the Fund be used for loans or to refinance projects for local governments or to give grants to them; that the Fund may be used for loans or grants for individuals; guidelines for the priority of such loans and grants. In addition, the bill provides that the Authority may pledge loans to secure bonds and sell loans. Read the Bill »

Status

01/12/2022: Awaiting a Vote in the Agriculture, Chesapeake and Natural Resources Committee

History

Date	Action
01/12/2022	Committee
01/12/2022	Prefiled and ordered printed; offered 01/12/22 22101726D
01/12/2022	Referred to Committee on Agriculture, Chesapeake and Natural Resources