Establishes the Climate Mitigation and Resiliency Special Fund to be administered by the Department of Defense to advance projects addressing climate change impacts. Requires the DOD to convene a selection committee to review and recommend projects for Climate Mitigation and Resiliency Special Fund allocation. Requires the Adjutant General to adopt rules. Establishes the Economic Development and Revitalization Special Fund to be administered by the Department of Business, Economic Development, and Tourism for projects advancing economic development or revitalization; infrastructure within tourism districts or resort areas; climate change mitigation, adaptation, or resiliency; and tourism marketing. Requires DBEDT to establish procedures for receiving and evaluating project proposals for Economic Development and Revitalization Special Fund allocation. Requires DBEDT to submit annual reports to the Legislature. Beginning 1/1/2026, increases the Transient Accommodation Tax and allocates a portion thereof to the Climate Mitigation and Resiliency Special Fund. Appropriates funds. Effective 7/1/2050. (SD1)

Statutes affected:
SB1396: 237D-2, 237D-6.5
SB1396 SD1: 237D-2, 237D-6.5
Latest: 237D-2, 237D-6.5