Bill > H895

This bill establishes a new Coastal Protection and Harbor Maintenance Revolving Fund to provide financial assistance to local government units for coastal protection and harbor maintenance projects. The fund will allow the Department of Environmental Management to offer financial support, including zero or low-interest loans, covering up to 50 percent of approved project costs for municipalities that have incurred debt for coastal protection initiatives after January 1, 2021. A "coastal protection and harbor maintenance project" is broadly defined to include planning, design, construction, and equipment purchase for projects that improve harbor access or protect coastline structures. The department is required to create regulations defining eligible projects and establish a process for municipalities to submit proposals for consideration. Additionally, the department must report annually to the legislative committees on ways and means, detailing the total assistance authorized and the number of assistance requests that could not be fulfilled due to limited appropriations. The bill will take effect immediately, with the department directed to develop the necessary implementing regulations within 90 days of passage.

Agriculture and Natural Resources

https://malegislature.gov/Bills/194/H895