Local Tax and Regulatory Incentives; Green Development Zones
HB 1565 is a by-partisan bill patroned by Del. Webert and co-patroned by Del. Keam that enables municipalities to elect local tax and regulatory incentives for Green Development Zones. EarthCraft certification is a pathway provided to meet that designation. As we’ve seen with The Impact on Energy Efficient Design and Construction on LIHTC in Virginia, the EarthCraft family of programs effectively achieves real energy savings. Green development zones, often refered to as “eco-districts” can leverage economic development dollars to attract sustainable businesses and grow green jobs.