All Roll Calls
Yes: 460 • No: 1
Sponsored By: Angelia Williams Graves (Democratic)
Became Law
Virginia Community Flood Preparedness Fund; loan and grant program; deferment of interest accrual and repayment obligations. Provides that for funds disbursed to localities, federally recognized tribes, and Virginia recognized tribes primarily for the purpose of implementing flood prevention and protection projects and studies in areas that are subject to recurrent flooding, interest on loans shall not accrue and repayment obligations shall not come into effect for loans or grants until completion of the project or study for which such funds are disbursed. This bill is a recommendation of the Joint Subcommittee on Recurrent Flooding.
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5 provisions identified: 2 benefits, 0 costs, 3 mixed.
Fund money mainly supports projects and studies in areas with repeated flooding, certified by a local floodplain manager. Both inland and coastal communities with recurrent flooding can get help. Projects that use nature-based solutions, like wetlands or living shorelines, get priority.
At least 25% of money given out each year must fund projects in low-income areas. Localities and tribes may forgive loan principal for projects in low-income areas. All forgiven principal statewide is capped at 30% of that year’s fund appropriation. Local forgiveness does not cancel what the locality or tribe owes the Commonwealth.
The law creates a permanent Virginia Community Flood Preparedness Fund. It gets money from emissions allowance sales, state appropriations, loan repayments, investment income, federal funds, and other sources. Interest stays in the fund and the money does not revert each year. Money only pays for flood prevention, protection, and coastal resilience projects. The Authority may cover its management costs from the fund, use fund assets to secure bonds, and sell loans to raise cash. After costs, sale proceeds go back into the fund.
The Authority sets loan interest rates and repayment terms under an agreement with the Department. The Department runs the fund and writes rules for how awards are prioritized. Before each new round, the public gets 30 days to comment on proposed manual changes. Records of every application and decision must be posted online and at the Department office. An advisory committee with agencies, industry, and a nonprofit helps review and recommend awards.
A locality or tribe can place a lien, up to the loan amount, on property that benefits from a fund loan. The lien is behind earlier liens unless prior lenders sign a recorded subordination agreement. For certain project or study loans, interest and payments do not start until the work is finished or cancelled.
Angelia Williams Graves
Democratic • Senate
There are no cosponsors for this bill.
All Roll Calls
Yes: 460 • No: 1
House vote • 4/22/2026
House concurred in Governor's recommendation
Yes: 94 • No: 1
Senate vote • 4/22/2026
Senate concurred in Governor's recommendation
Yes: 39 • No: 0
House vote • 3/2/2026
Passed House Block Vote
Yes: 98 • No: 0
House vote • 3/2/2026
Passed House Block Vote
Yes: 99 • No: 0
House vote • 2/25/2026
Reported from Appropriations
Yes: 22 • No: 0
Senate vote • 2/13/2026
Read third time and passed Senate Block Vote
Yes: 39 • No: 0
Senate vote • 2/12/2026
Engrossed by Senate Block Vote (Voice Vote)
Yes: 0 • No: 0
Senate vote • 2/11/2026
Passed by for the day Block Vote (Voice Vote)
Yes: 0 • No: 0
Senate vote • 2/11/2026
Constitutional reading dispensed Block Vote (on 1st reading)
Yes: 40 • No: 0
Senate vote • 2/10/2026
Reported from Finance and Appropriations
Yes: 15 • No: 0
Senate vote • 2/3/2026
Reported from Agriculture, Conservation and Natural Resources and rereferred to Finance and Appropriations
Yes: 14 • No: 0
House concurred in Governor's recommendation (94-Y 1-N 0-A)
Senate concurred in Governor's recommendation (39-Y 0-N 0-A)
Acts of Assembly Chapter text (CHAP0995)
Reenrolled bill text (SB197ER2)
Reenrolled
Approved by Governor-Chapter 995 (effective 7/1/2026)
Signed by President
Signed by Speaker
Governor's recommendation adopted
Governor's recommendation received by Senate
Governor's Action Deadline 11:59 p.m., April 13, 2026
Enrolled Bill communicated to Governor on March 10, 2026
Fiscal Impact Statement from Department of Planning and Budget (SB197)
Bill text as passed Senate and House (SB197ER)
Enrolled
Signed by President
Signed by Speaker
Passed House Block Vote (99-Y 0-N 0-A)
Reconsideration of passage agreed to by House
Passed House Block Vote (98-Y 0-N 0-A)
Read third time
Read second time
Reported from Appropriations (22-Y 0-N)
Assigned HAPP sub: Commerce Agriculture & Natural Resources
Referred to Committee on Appropriations
Chaptered
4/22/2026
Reenrolled
4/22/2026
Gov Recommendation
4/12/2026
Enrolled
3/5/2026
Introduced
1/9/2026
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