VirginiaHB702026 Regular SessionHouseWALLET

Resilient Virginia Revolving Fund; projects in low-income geographic areas, nature-based solutions.

Sponsored By: Michael B. Feggans (Democratic)

Became Law

Summary

Resilient Virginia Revolving Fund; projects; low-income geographic areas and nature-based solutions. Provides that the Department of Conservation and Recreation shall give additional weight to projects located in low-income geographic areas and projects that incorporate nature-based solutions when distributing loans or grants from the Resilient Virginia Revolving Fund to particular local governments. The bill allows the Virginia Resources Authority to contract with any person to serve as a program administrator to be approved by the Department to assist in the distribution of loans and grants to local governments. As introduced, this bill was a recommendation of the Joint Subcommittee on Recurrent Flooding.

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 3 benefits, 0 costs, 1 mixed.

Permanent fund for local resilience projects

The law creates the Resilient Virginia Revolving Fund as a permanent fund. It takes state appropriations, federal resilience money, loan repayments, investment income, and other deposits. The Authority manages the Fund. After consulting the Authority, the Secretary of Natural and Historic Resources, and the Chief Resilience Officer, the Department directs which local governments get loans or grants and sets loan interest rates and repayment terms.

Priority for low-income, nature-based projects

Project scoring gives extra weight to projects in low-income geographic areas. Projects that use nature-based solutions also get priority. Projects in places with a very low community resilience rating get added weight. Some Fund money is set aside only for hazard mitigation of buildings and cannot be used for other purposes.

Public input and review of awards

Before each new loan or grant offering, the Department provides a 30-day public comment period on proposed Manual changes. It posts a record of every application and decision at its office and on a public website. The Director creates an Advisory Review Committee with state agencies, a resilience nonprofit, industry and business members, and the Chesapeake Bay Commission’s Virginia Director. Members serve without pay and recommend awards to the Department and listed officials.

Staffing and fees for resilience fund

The Authority can hire staff, advisers, and consultants and set their pay. It can also contract a program administrator, with Department approval, to help issue loans and grants. The Fund may pay the Authority’s reasonable management costs and a Department‑approved fee. A program administrator may receive an administrative fee up to 5% of the total amount in the Fund.

Sponsors & Cosponsors

Sponsor

  • Michael B. Feggans

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 199 • No: 22

Senate vote 3/9/2026

Passed Senate

Yes: 36 • No: 4

Senate vote 3/5/2026

Constitutional reading dispensed Block Vote (on 2nd reading)

Yes: 39 • No: 0

Senate vote 3/5/2026

Passed by for the day Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote 3/3/2026

Reported from Agriculture, Conservation and Natural Resources

Yes: 11 • No: 1 • Other: 3

House vote 2/10/2026

Read third time and passed House

Yes: 82 • No: 16

House vote 2/4/2026

Reported from Agriculture, Chesapeake and Natural Resources with substitute

Yes: 21 • No: 1

House vote 1/28/2026

Subcommittee recommends reporting with substitute

Yes: 10 • No: 0

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0057)

    4/6/2026Governor
  2. Approved by Governor-Chapter 57 (effective 7/1/2026)

    4/6/2026Governor
  3. Governor's Action Deadline 11:59 p.m., April 13, 2026

    3/25/2026Governor
  4. Enrolled Bill communicated to Governor on March 25, 2026

    3/25/2026House
  5. Fiscal Impact Statement from Department of Planning and Budget (HB70)

    3/16/2026House
  6. Bill text as passed House and Senate (HB70ER)

    3/14/2026House
  7. Enrolled

    3/14/2026House
  8. Signed by President

    3/14/2026Senate
  9. Signed by Speaker

    3/14/2026House
  10. Passed Senate (36-Y 4-N 0-A)

    3/9/2026Senate
  11. Read third time

    3/9/2026Senate
  12. Passed by for the day Block Vote (Voice Vote)

    3/6/2026Senate
  13. Passed by for the day Block Vote (Voice Vote)

    3/5/2026Senate
  14. Constitutional reading dispensed Block Vote (on 2nd reading) (39-Y 0-N 0-A)

    3/5/2026Senate
  15. Rules suspended

    3/5/2026Senate
  16. Reported from Agriculture, Conservation and Natural Resources (11-Y 1-N 3-A)

    3/3/2026Senate
  17. Fiscal Impact Statement from Department of Planning and Budget (HB70)

    2/12/2026House
  18. Referred to Committee on Agriculture, Conservation and Natural Resources

    2/11/2026Senate
  19. Constitutional reading dispensed (on 1st reading)

    2/11/2026Senate
  20. Read third time and passed House (82-Y 16-N 0-A)

    2/10/2026House
  21. Engrossed by House - committee substitute

    2/9/2026House
  22. committee substitute agreed to

    2/9/2026House
  23. Read second time

    2/9/2026House
  24. Read first time

    2/6/2026House
  25. Committee substitute printed 26106443D-H1

    2/5/2026House

Bill Text

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