Virginia HB 1148

Middle Peninsula Chesapeake Bay Public Access Authority; public purpose; submerged aquatic vegetation. Allows the Middle Peninsula Chesapeake Bay Public Access Authority to receive and expend public funds and private donations in order to restore or create submerged aquatic vegetation within the region for which the authority exists subject to certain limitations. The bill also allows the Authority to sell or convey tidal mitigation or submerged aquatic vegetation credits resulting from restoration or creation projects to political subdivisions within the Authority and with the concurrence of the Marine Resources Commission to nonparticipating political subdivisions. Currently, the Authority is only allowed to receive public and private funds for tidal wetland restoration and creation projects and is prohibited from selling or conveying tidal mitigation credits to any participating political subdivision.