Bill > S2849

This bill establishes a special commission to scope a state grant or low-interest loan program for properties prone to flooding in the Commonwealth of Massachusetts. The commission will consider various components, including funding sources, eligible expenses, applicant eligibility, cost-benefit analysis, risks and hazards identified in the state's hazard mitigation and climate adaptation plan, and program expenditures and payouts. The commission will be composed of representatives from various state agencies, the legislature, and other stakeholders, such as a contractor with experience in home elevations, an insurance agent with knowledge in flood insurance, and a licensed lender with experience in mitigation activities. The commission is required to submit a preliminary draft of its recommendations or legislation by September 1, 2021, and a final draft by December 1, 2022.