Requirement for purchase of wetland or stream mitigation bank credits
Purpose of legislation
Provides that when a water protection permit applicant is required to purchase wetland or stream mitigation bank credits but no credits are available (i) in any mitigation provider's primary service area or (ii) at a cost of less than 200 percent of the price of credits available from a fund dedicated to achieving no net loss of wetland acreage and functions, the applicant may purchase or use credits from a mitigation provider's secondary service area. The bill provides certain requirements that the permit applicant must comply with in order to purchase or use such credits from a secondary service area, including minimum tree canopy requirements.
|Legislation mandating a change||Chap 265 (2021)|
|VAC chapters to be amended|
|Associated Regulatory Actions||