Virginia legislation · 2026 Special I
Virginia SB4001: A BILL to amend and reenact §§ 10.1-603.25, 10.1-1183.1, 10.1-1307, 45.2-1701.1, and 56-596.2:2 of the Code of Virginia and to repeal Article 4 (§§ 10.1-1329, 10.1-1330, and 10.1-1331) of Chapter 13 of Title 10.1 of the Code of Virginia, relating to Virginia Clean Energy and Community Flood Preparedness Act; repeal; electric utility customer credit.
Status: In committee, October 21, 2026
Virginia Clean Energy and Community Flood Preparedness Act; repeal; electric utility customer credit. Directs the Department of Environmental Quality to suspend the Commonwealth's participation in the Regional Greenhouse Gas Initiative (RGGI). The bill requires the Commonwealth to remit all revenue collected pursuant to a market-based trading program consistent with RGGI to each electric utility that has a rate adjustment clause approved or pending approval for recovery of the costs of emissions allowances or that has otherwise increased customer bills to recover such costs. The bill directs each such utility to subsequently distribute such funds as a credit to its customers in the Commonwealth.
What the bill says
To amend and reenact §§ 10.1-603.25, 10.1-1183.1, 10.1-1307, 45.2-1701.1, and 56-596.2:2 of the Code of Virginia and to repeal Article 4 (§§ 10.1-1329, 10.1-1330, and 10.1-1331) of Chapter 13 of Title 10.1 of the Code of Virginia, relating to Virginia Clean Energy and Community Flood Preparedness Act; repeal; electric utility customer credit. ---------- Patrons--DeSteph, Diggs, Craig, McDougle, Peake and Sturtevant ---------- Referred to Committee on Agriculture, Conservation and Natural Resources ---------- 1. That §§ 10.1-603.25, 10.1-1183.1, 10.1-1307, 45.2-1701.1, and 56-596.2:2 of.
From the introduced text, October 21, 2026:
A BILL to amend and reenact §§ 10.1-603.25, 10.1-1183.1, 10.1-1307, 45.2-1701.1, and 56-596.2:2 of the Code of Virginia and to repeal Article 4 (§§ 10.1-1329, 10.1-1330, and 10.1-1331) of Chapter 13 of Title 10.1 of the Code of Virginia, relating to Virginia Clean Energy and Community Flood Preparedness Act; repeal; electric utility customer credit. ---------- Patrons--DeSteph, Diggs, Craig, McDougle, Peake and Sturtevant ---------- Referred to Committee on Agriculture, Conservation and Natural Resources ---------- 1. That §§ 10.1-603.25, 10.1-1183.1, 10.1-1307, 45.2-1701.1, and 56-596.2:2 of the Code of Virginia are amended and reenacted as loan and grant program. A. The Virginia Community Flood Preparedness Fund is hereby established as a permanent and perpetual fund. All [DELETED: sums] [DELETED: that] [DELETED: are] [DELETED: designated] [DELETED: for] [DELETED: deposit] [DELETED: in] [DELETED: the] [DELETED: Fund] [DELETED: from] [DELETED: revenue] [DELETED: generated] [DELETED: by] [DELETED: the] [DELETED: sale] [DELETED: of] [DELETED: emissions] [DELETED: allowances] [DELETED: pursuant] [DELETED: to] [DELETED: subdivision] [DELETED: C] [DELETED: 1] [DELETED: of] [DELETED: § 10.1-1330,] [DELETED: all] sums that may be appropriated to the Fund by the General Assembly, all receipts by the Fund from the repayment of loans made by it to local governments, federally recognized tribes, and Virginia recognized tribes, all income from the investment of moneys held in the Fund, and any other sums designated for deposit to …