VA HB386

Establishes the Chesapeake Bay Pay for Outcomes Fund as a special, permanent, nonreverting fund in the state treasury to provide outcome-based payments for verified reductions in nutrient and sediment pollution from nonpoint sources in Virginia's Chesapeake Bay watershed

Prioritizes projects that contribute to meeting Chesapeake Bay Total Maximum Daily Load (TMDL) requirements, address local nutrient impaired stream TMDLs, and occur in high nutrient loss areas

Requires funded projects to demonstrate verified, measurable pollution reductions supported by empirical data or third-party validation, prove "additionality" (new outcomes beyond existing programs), and show minimal "leakage" (pollution increases elsewhere)

Directs the Department of Environmental Quality to establish a competitive solicitation process with a scoring rubric prioritizing assurance of load reductions, cost-effectiveness, total quantity of reduction, project readiness, and habitat/resilience benefits

Authorizes the Department to partner with the Department of Conservation and Recreation, Virginia Tech, and other stakeholders to incorporate funded project results into the Chesapeake Bay Program accountability framework