SD6 - Proposed Expansion of the Use of Nutrient Credits in Virginia Pursuant to Senate Joint Resolution 334 (2011)


Executive Summary:
Virginia's experience with nutrient trading and offsets established the foundation for the commitment in the Chesapeake Bay Phase I Watershed Implementation Plan (WIP) to propose an expanded program that may assist in meeting the challenging and expensive requirements of the Chesapeake Bay Total Maximum Daily Load (TMDL). The paramount goal of the current trading program and any future expansion is to protect and improve water quality in the Chesapeake Bay watershed.

This report proposes an expansion of the use of nutrient credits in Virginia and makes recommendations to the Governor and the General Assembly regarding a framework for the expansion that defines the nature of regulatory authority and the entities that may participate. This report also recommends a process by which nutrient credit should be certified and recommends agency regulatory action necessary to implement the proposed framework.