Bill > HB1273

This bill renames the Coastal Resilience Incentive Zone (CRIZ) to the Flood Resilience Incentive Zone (FRIZ), expanding the scope of flood mitigation efforts beyond coastal areas to include inland flood-prone regions. The bill allows municipalities to establish FRIZ zones using tools like the New Hampshire Flood Hazards Viewer and provides a comprehensive set of qualifying improvements, including structural elevation, flood-resistant materials, water management practices, and system modifications that reduce flood damage. Municipalities can now create special nonlapsing funds and revolving investment funds to support flood resilience efforts, with the ability to collect a municipal flood resilience fee of up to $0.50 per $1,000 of assessed property value. The bill also introduces property tax credits for flood resilience investments, offering property owners between $100 and $1,000 annually for up to five years, with credits tied to the property itself rather than the owner. Additionally, the legislation allows municipalities to acquire preservation easements, establish tax increment financing districts, and use various funding mechanisms to support flood mitigation efforts. These changes aim to provide municipalities with more flexible and comprehensive tools to address flood risks and encourage proactive resilience improvements.

Government Affairs

https://gc.nh.gov/bill_Status/billinfo.aspx?id=2047&inflect=2