Chief Patron: Marsden
DEQ - WQIF Wastewater Grants
Item C-53.50 #1s
Item C-53.50 #1s | First Year - FY2025 | Second Year - FY2026 | |
| Natural and Historic Resources |
| Department of Environmental Quality | FY2025 $200,000,000 | FY2026 $200,000,000 | NGF |
Language
Page 558, after line 34, insert:
| "C-53.50 Improvements: Water Quality Improvement Fund Projects | $200,000,000 | $200,000,000 | |
| Fund Sources:
VPBA Bonds
|
$200,000,000
|
$200,000,000
" | |
A. 1. The Virginia Public Building Authority pursuant to § 2.2-2260 et seq., Code of Virginia, is authorized to issue bonds in a principal amount not to exceed $400,000,000 plus amounts needed to fund issuance costs, reserve funds, original issue discount, interest prior to and during the acquisition or construction and for one year after completion thereof, and other financing expenses, in accordance with § 2.2-2263, Code of Virginia, to be provided to the Department of Environmental Quality to make matching grants for Water Quality Improvement Fund eligible wastewater projects for Chesapeake Bay nutrient reduction authorized under Code of Virginia §§10.1-1186.01.F., 10.1-2131.C., and 62.1-44.19:14.G.1.
2. Debt service on the bonds issued under the authorization in this Item shall be provided from appropriations to the Treasury Board."
Explanation
(This amendment authorizes $400.0 million in VPBA tax-supported bonds for the Commonwealth's portion of municipal wastewater facility projects under Code of Virginia §§10.1-1186.01.F., 10.1-2131.C., and 62.1-44.19:14.G.1. that are now under or entering active construction to meet the Commonwealth's obligations under the U.S. EPA Chesapeake Bay TMDL and Virginia Phase III Watershed Implementation Plan.)