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Bill

Bill

SB 802

Clean energy and community flood preparedness; market-based trading program.

2026 Regular Session Introduced by Mamie Locke

Virginia establishes market-based trading program allowing clean energy and flood preparedness credit exchanges to increase climate resilience investment flexibility.

Passed by for the day (Voice Vote)
0
WeVote Research Nonpartisan
Bill Summary · SB 802

Legislative bill overview

SB 802 establishes a market-based trading program in Virginia that links clean energy development with community flood preparedness initiatives. The bill creates mechanisms for entities to trade credits or offsets between renewable energy projects and flood mitigation investments, allowing flexibility in how organizations meet environmental and resilience requirements.

Why is this important

Climate resilience is becoming a critical infrastructure concern for Virginia, particularly given the state's vulnerable coastal regions and increasing flood frequency. Market-based approaches can incentivize private investment in both clean energy and flood preparedness by allowing cost flexibility, potentially accelerating progress on two priority environmental goals simultaneously.

Potential points of contention

  • Implementation complexity: Trading programs require robust monitoring and verification systems to prevent fraud or misuse; unclear regulatory structure could undermine program effectiveness
  • Equity concerns: Market-based mechanisms may create disparities where wealthier communities can "purchase" compliance rather than implementing local solutions, potentially leaving vulnerable areas underprotected
  • Fiscal impact uncertainty: The Department of Planning and Budget fiscal statement suggests costs that weren't fully transparent before passage; long-term program administration expenses and potential subsidies require scrutiny

Compiled from official sources — confirm details with the bill’s official record.

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