Nutrient credit stream restoration projects; use of third-party long-term stewards
Purpose of legislation
This bill provides that in lieu of long-term management fund financial assurance mechanisms established or required by regulation for projects generating nutrient credits from stream restoration, a third-party long-term steward approved by DEQ, such as a public agency, nongovernmental organization or private land manager, may hold long-term management funds in a separate interest-bearing account to be used only for the long-term management of the stream restoration project.
|Legislation mandating a change||Chap 422 (2022)|
|VAC chapters to be amended|
|Associated Regulatory Actions||