Local Environmental Impact Fund; created.

Plain English Breakdown

Checked against official source text during the last sync.

Local Environmental Impact Fund

This bill allows localities to create a fund that provides grants for residents or locally owned businesses to purchase energy-efficient equipment.

What This Bill Does

• Allows local governments to set up a special fund called the Local Environmental Impact Fund.
• The fund can only use money from the locality and donations it receives.
• Grants from this fund are given to residents or locally owned businesses for buying energy-efficient equipment.
• Energy-efficient equipment includes lawn care tools, home appliances, heating systems, and micromobility devices.

Who It Names or Affects

• Local governments that choose to create the Local Environmental Impact Fund
• Residents and locally owned businesses who receive grants from the fund

Terms To Know

Micromobility devices

Small vehicles like electric scooters or bicycles used for short trips.

Locally owned business

A company that is run and operated by people who live in the same area where it does business.

Limits and Unknowns

• The bill does not specify how much money should be in the fund or how often grants are given.
• It's unclear which localities will choose to create this fund.

Official Summary Text

Local Environmental Impact Fund.
Allows a locality to create a permanent and perpetual fund to be known as the Local Environmental Impact Fund. The bill provides that the Fund shall consist exclusively of appropriated local moneys and any gifts, donations, grants, bequests, and other funds received on its behalf, and that the Fund is to be created for the purpose of granting funds to residents or locally owned businesses for the mitigation of environmental impacts. Such grants from the Fund shall be used only for the purchase of energy efficient (i) lawn care and landscaping equipment; (ii) home appliances; (iii) heating, ventilation, and air conditioning equipment; or (iv) micromobility devices. The bill requires the Fund to be administered and managed by the locality.

Current Bill Text

A BILL to amend the Code of Virginia by adding in Title 15.2 a chapter numbered 24.4, consisting of a section numbered
15.2-2441
, relating to Local Environmental Impact Fund.

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding in Title 15.2 a chapter numbered 24.4, consisting of a section numbered
15.2-2441
, as follows:

CHAPTER

24.4
.

LOCAL ENVIRONMENTAL IMPACT FUND
.

§
15.2-2441
. Creation and management of
Local Environmental Impact
Fund.

Any locality may by ordinance create
a permanent and perpetual fund to be known as the
Local Environmental Impact
Fund
(the Fund)
. The Fund shall consist
exclusively of appropriated local moneys
and any gifts, donations, grants, bequests, and other funds received on its behalf.
The Fund is
to be
created for the purpose of
granting funds to residents or locally

owned businesses for the mitigation of environmental impacts
.
Grants from such
F
und shall be used only for the purchase of energy efficient (i) lawn care and landscaping equipment
;
(ii) home appliances
;
(iii)
heating, ventilation, and air conditioning
equipment
;
or (iv) micromobility devices.

The Fund shall be administered and managed by the
locality.