Bill > HB2077

This bill expands the Virginia Community Flood Preparedness Fund's eligibility for loans and grants to include federally recognized tribes and Virginia recognized tribes, in addition to existing local government recipients. The Fund, established as a permanent source of financing for flood prevention and protection projects, will now allow these tribes to apply for financial assistance to implement flood mitigation strategies. The bill maintains existing guidelines that require Fund usage to primarily support projects in areas with recurrent flooding, with at least 25% of disbursed funds allocated to low-income geographic areas. Eligible projects can include flood prevention studies, hazard mitigation activities, land acquisition, and nature-based solutions that reduce flood risks. The bill also allows tribes, like localities, to secure loans by placing liens against benefiting property and permits loan principal forgiveness for projects in low-income areas, with a cap of 30% of the Fund's annual appropriation. This expansion recognizes the flood vulnerability of tribal communities and provides them with additional resources to enhance their resilience to coastal and riverine flooding.

Budget and Finance

https://lis.virginia.gov/bill-details/20251/HB2077