Bill > A09342

This bill expands the eligibility for the "Resilient Retrofits Loan and Grant Program" to include financing for hazard mitigation and resilience projects, such as repairs, cleanups, and upgrades of private sewers in multiple dwellings and single-family homes where the sewer capacity has been exceeded. The bill establishes the "Resilient Retrofit Loan and Grant Fund" to administer the program, which will provide low or no-interest loans and grants to eligible individual property owners. The loans can be used to satisfy the non-federal match for federal mitigation grants, and the grants will finance at least 80% of the cost of eligible projects. The program will also offer loan forgiveness for eligible households with annual income of $250,000 or less.