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Committee tables bill seeking credit for sediment basins and reduce cash requirement for early‑grading securities
Summary
House Bill 2132 would allow developers to receive credit for sediment basins posted as securities during early‑grading plans when final stormwater facilities are bonded, and would reduce required cash/letter‑of‑credit to 25% for early basins; the subcommittee tabled the bill 6‑4 after mixed testimony.
Delegate Milley described House Bill 2132 as an effort to avoid ‘‘double bonding’’ developers must sometimes post when early‑grading sediment basins are later incorporated into final stormwater management ponds. The bill would require localities to credit existing securities posted for sediment basins against required securities for final stormwater facilities when the two structures are the same or…
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