The Resilient Virginia Revolving Loan Fund (Loan Fund) was enacted during the 2022 General Assembly Session to provide funding, primarily via loans, to local governments to lend to property owners for flood resilience projects. The Loan Fund was capitalized with a $25 million diversion from the Community Flood Preparedness Fund (CFPF), a statewide grant and loan program financed by Virginia’s participation in the Regional Greenhouse Gas Initiative. Governor Youngkin’s proposed budget includes $100M additional investment in the Loan Fund.