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HB968, Willammete University held a [symposium on public banking](https://ourmoneyourfuture.org/) March 23rd-25th, 2023. The list of speakers included leaders from the most successful public banking movement and from the Modern Money Theory (MMT) school of economic thought, which has provided a robust framework for understanding financial institutions and is the only school of economic thought that has consistently called all the major economic events of the 21st century. Unfortunately, video of the event may never become available, but the pivotal moment came on the third day when a senior leader in the California Public Banking Alliance proclaimed that after three days of conference she had come to understand the infinity sign behind federal spending, and now every thing they had done seemed trivial. Note that Virginia, unlike the federal government, cannot issue its own currency. At the end of the day, it has to get US dollars from people who have US dollars and no amount of finance infrastructure can change that. Thus, what the state can achieve by going into the banking business is more modest than some enthusiasts may believe. Lawmakers and their staff and constituents who are interested in this issue are invited to reach out to [Virginia Progressives](http://VAProgressives.org), which can fill out this bigger picture for them and help them explore related issues in as much depth as they care to pursue. A more significant action for green infrastructure is HB985, which is a step forward for environmental justice that centers people and aligns with federal policy such as the guiding documents of the EPA Climate Pollution Reduction Grant, just one example of where Virginia can align with billions of net federal funds being spent into existence, of which we will see much more in the future. The COVID response in both the Trump and Biden administration, and globally, has shown how tapping that infinity sign can look and that the consequences of such spending are very different from what all but the MMT school of economists expected.

H ACNR Nat Res VaLCV Legislative Positions -- We encourage you to SUPPORT HB199, HB745, HB968, HB985. HB 199 (Krizek) This legislation would: Remove the provision in Virginia’s Brownfield program that only permits federal funds to fund the program. Virginia’s Brownfield program provides a $500/kWh incentive for solar projects on former coal mines and a $100/kWh incentive for solar projects on brownfields. Reasons to SUPPORT HB199: This simple fix will allow the Commonwealth to appropriate funds to this program. These modest incentives will help offset the slightly higher cost of projects in these locations. The more projects that are sited on former coal mines and brownfields means less impacts to important natural resources like farms and forests. HB 745 (Laufer) This legislation would establish a mattress stewardship program to network of convenient and free collection sites for post-consumer mattresses, defined in the bill, that will facilitate higher rates of recycling and materials recovery for post-consumer mattresses. Reasons to SUPPORT HB745: Product stewardship programs are one of the best tools to reduce litter and increase recycling. Product stewardship puts responsibility on producers to develop recycling systems for their products. Mattresses contain high-value recyclable materials that can be recovered and used to create new products. According to the Mattress Recycling Council, more than 50,000 mattresses are discarded in the U.S. each day and more than 75 percent of a mattress can be recycled. HB 968 (Lopez) This Legislation Would: Create the Virginia Climate Innovation Authority to finance clean energy projects, greenhouse gas emissions reduction projects, and other qualified projects through the strategic deployment of public funds in the form of grants, loans, credit enhancements, and other financing mechanisms. Reasons to SUPPORT HB 968: Creation of the Virginia Climate Innovation Authority would: Accelerate the adoption of proven clean energy technology and greenhouse gas reduction projects to expand access to untapped markets and to bring benefits to historically underserved communities. Catalyze access to federal funds included in the Inflation Reduction Act, such as the Greenhouse Gas Reduction Fund (GGRF), a $27 billion commitment to fund “green banks” and other investment vehicles. Use public dollars to leverage private investment. HB 985 (Tran) High polycyclic aromatic hydrocarbon; prohibits pavement sealants that contain, civil penalty. This legislation would: Prohibit the use of toxic high-PAH pavement sealants. Reasons to SUPPORT HB985: The Chesapeake Bay Program has prioritized polycyclic aromatic hydrocarbons (PAHs) as the second most important toxic contaminant. PAHs are a class of chemicals that are the byproduct left over from burning coal, oil, gas, or wood. They are cancer-causing chemicals, and human exposure can come through breathing in, ingesting or absorbing through the skin. Pavement sealants with high PAH levels degrade, ultimately releasing dust and fine particles laden with carcinogens into homes, waterways, the soil, and the air. Stormwater runoff from PAH coatings continue to be highly toxic to fish and aquatic organisms months after their application. Low PAH sealants are cost-competitive and in regular use throughout the country.

Comments Document

Virginia LCV encourages you to SUPPORT HB107, HB199, HB309, HB985. HB107 (Sullivan) Rural Electric Vehicle Charging Infrastructure Program and Fund Reasons to SUPPORT HB107 Supports communities otherwise left behind: The $106 million in federal funding for EV chargers is designated for major travel corridors. Virginia does not currently have funds set aside for EV charging stations in rural areas that are not along highways. Promotes tourism: EV charging stations near tourist destinations in low-income rural localities will ensure that people continue to visit the region as EVs become more prevalent, maintaining an essential contributor to the tax base and associated essential services, and supporting local businesses. Unlocks fuel/maintenance cost-savings for rural residents: With many EVs now achieving price parity with traditional gas-combustion vehicles, this bill will allow rural residents to reap cost savings associated with utilizing electricity, which is cheaper per mile than gas, as a fuel source. HB199 (Krizek) Virginia Brownfield and Coal Mine Renewable Energy Grant Fund and Program; allocation of funds. This legislation would: Removes the provision in Virginia’s Brownfield program that only permits federal funds to fund the program. Virginia’s Brownfield program provides a $500/kWh incentive for solar projects on former coal mines and a $100/kWh incentive for solar projects on brownfields Reasons to SUPPORT HB199: This simple fix will allow the Commonwealth to appropriate funds to this program. These modest incentives will help offset the slightly higher cost of projects in these locations. The more projects that are sited on former coal mines and brownfields means less impacts to important natural resources like farms and forests. HB 309 (Hope) Forest Conservation Plan; Department of Forestry to develop. This legislation would: Establish the Forest Conservation Act. Requests that the Department of Forestry assess the health of Virginia’s forests, determine how many acres are healthy and how many acres are at risk and why. The primary interest of this act are areas adjacent to streams or wetlands, those on steep or erodible soils or those within or adjacent to large contiguous blocks of forest or wildlife corridors. Reasons to SUPPORT HB309: Forest loss hinders the state’s ability to improve water quality, reduce flooding and mitigate the impacts of climate change. Intact forests not only provide habitat for wildlife, but also act as sponges, filtering water and slowing runoff into our streams, reducing erosion and sediment in our waterways. HB985 (Tran) High polycyclic aromatic hydrocarbon; prohibits pavement sealants that contain, civil penalty. This legislation would: Prohibit the use of toxic high-PAH pavement sealants. Reasons to SUPPORT HB985: The Chesapeake Bay Program has prioritized polycyclic aromatic hydrocarbons (PAHs) as the second most important toxic contaminant. PAHs are a class of chemicals that are the byproduct left over from burning coal, oil, gas, or wood. Pavement sealants with high PAH levels degrade, ultimately releasing dust and fine particles laden with carcinogens into homes, waterways, the soil, and the air. Stormwater runoff from PAH coatings continue to be highly toxic to fish and aquatic organisms months after their application. Low PAH sealants are cost-competitive and in regular use throughout the country.

Please support HB985 - this particular type of pavement sealer is proven to be harmful to our watershed and our health. There are affordable alternatives available. Endangered species of freshwater mussels are particularly vulnerable to this pollutant. As a concerned citizen, I ask you all to support this bill.