Virginia SB802 establishes a carbon dioxide cap and trade program and allocates revenue for low-income energy efficiency programs and flood.

Virginia SB802 creates a carbon dioxide cap and trade program to limit and reduce emissions from electric generation facilities. The Department of Environmental Quality will manage an auction program to sell allowances. Half of the revenue will fund low-income energy efficiency programs, while the other half will support flood preparedness initiatives. The bill also incorporates provisions from a previous regulation and exempts the incorporation process from certain administrative requirements.

Virginia SB802 establishes a carbon dioxide cap and trade program and allocates revenue for low-income energy efficiency programs and flood.

Virginia SB802 creates a carbon dioxide cap and trade program to limit and reduce emissions from electric generation facilities. The Department of Environmental Quality will manage an auction program to sell allowances. Half of the revenue will fund low-income energy efficiency programs, while the other half will support flood preparedness initiatives. The bill also incorporates provisions from a previous regulation and exempts the incorporation process from certain administrative requirements.