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VA HB397
Bill
Status
Enrolled
3/5/2026
Primary Sponsor
Charniele Herring
Click for details
AI Summary
- Requires the Virginia Air Pollution Control Board to establish and maintain a market-based carbon dioxide emissions trading regulation consistent with the Regional Greenhouse Gas Initiative (RGGI) program
- Mandates the Director to establish and manage an allowance auction program, changing the language from "authorized to" to "shall," making participation obligatory rather than discretionary
- Allocates auction revenue: 45% to flood preparedness assistance for localities, 50% to low-income energy efficiency programs administered by DHCD, 3% to administrative expenses and climate planning, and 2% to program implementation
- Clarifies that energy conversion or tolling agreements of 20 years or more qualify as "life-of-the-unit contractual arrangements," with purchasers responsible for acquiring required CO2 allowances
- Declares the provisions are clarifying existing law rather than creating new policy
Legislative Description
Clean energy and community flood preparedness; market-based trading program.
Last Action
Governor's Action Deadline 11:59 p.m., April 13, 2026
3/10/2026
Committee Referrals
Agriculture, Conservation and Natural Resources2/4/2026
Agriculture, Chesapeake and Natural Resources: Natural Resources1/19/2026
Agriculture, Chesapeake and Natural Resources1/12/2026
Full Bill Text
No bill text available