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HB 595 (2025)

Expand programs to fund flood resiliency and analyze flood risk mitigation efforts

Summary:

First, this bill adds flood resiliency improvements to the list of qualifying improvements under commercial property assessed clean energy (C-PACE) and residential property assessed clean energy (R-PACE) funding.  The bill also enables municipalities to offer property owners who engage in flood resilience projects a property tax break or tax assessment freeze for a limited time. Third, it enables municipalities to assess a fee on properties in a flood resilience zone to be deposited into a non-lapsing flood resilience investment fund. Lastly, it makes an appropriation to the Department of Business and Economic Development to fund a statewide analysis of the costs and benefits of flood risk and flood risk mitigation efforts.

Bill Sponsor:
Chris Muns
Democratic party logo
Status:
HOUSE
Public Hearing Date:
02/05/2025 11:00 am
Public Hearing Location:
LOB Room 305
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