HB 595 (2025)
Expand programs to fund flood resiliency and analyze flood risk mitigation efforts
This bill is still active.
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.
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