VA HJR20

Directs the Joint Legislative Audit and Review Commission (JLARC) to study how to determine state and local cost-sharing for managed retreat studies involving "legacy properties" in flood-prone areas

Defines legacy properties as residential properties owned by individuals aged 55+ with household income at or below 80% of area median income, located in cities/towns with populations of 35,000 or fewer in environmental justice communities

Requires JLARC to examine methodologies used by other states for apportioning costs between state and local governments for managed retreat implementation

Mandates development of recommended criteria prioritizing nature-based approaches, addressing socioeconomic inequities, and enhancing flood resilience equity

Requires JLARC to consider establishing a stand-alone fund to support cost-share requests from non-federal sponsors to assist legacy property owners threatened by sea level rise, with reports due by November 30, 2027, and November 30, 2028