Bill > HB386

This bill establishes the Chesapeake Bay Pay for Outcomes Fund, a permanent, non-reverting fund within the state treasury, to provide payments for verified reductions in nutrient and sediment pollution from nonpoint sources, meaning pollution that doesn't come from a single, identifiable source like a pipe, within the Chesapeake Bay watershed of the Commonwealth. The Department of Environmental Quality will administer this fund, using it for outcome-based environmental investments that demonstrate measurable pollution reductions supported by data, are "additional" meaning they wouldn't happen otherwise, and are unlikely to cause increased pollution elsewhere. The Department will create a competitive process to award payments based on criteria like the assurance of nutrient load reductions, cost-effectiveness, and the total quantity of reduction achieved, and may contract with experts to help manage the program, with the goal of incorporating these reductions into the Chesapeake Bay Total Maximum Daily Load (TMDL) accountability framework.

Agriculture and Natural Resources, Budget and Finance

https://lis.virginia.gov/bill-details/20261/HB386