Bill > H217

This bill establishes a new fund called the Coastal Protection and Harbor Maintenance Revolving Fund, which will be used to help local governments pay for projects that protect coastlines and maintain harbors. The fund will be managed by the department of environmental management, which will provide financial assistance, such as zero or low-interest loans, to municipalities for approved projects. These projects can include planning, design, construction, and maintenance activities that improve harbor access or strengthen coastal defenses. The bill also requires the department to create regulations defining eligible projects and a process for municipalities to propose new ones, and mandates that the department report annually on the assistance provided and any unmet needs due to insufficient funds. The state treasurer will work with the department to manage the fund, and the department is directed to establish the necessary regulations within 90 days of the bill's passage.