This bill proposes significant amendments to existing flood resilience laws in municipalities, specifically renaming the "coastal resilience zone" to the "flood resilience incentive zone" (FRIZ) and broadening the range of qualifying improvements eligible for funding. Municipalities will now be able to utilize the New Hampshire Flood Hazards Viewer to identify affected structures and delineate the FRIZ boundaries. The definition of "qualifying improvements" is updated to encompass a wider array of flood mitigation measures, including the construction of flood diversion apparatuses, the use of flood damage-resistant materials, and the implementation of natural water management practices.

Additionally, the bill introduces new funding mechanisms, such as a nonlapsing FRIZ investment fund and the ability for municipalities to impose a municipal flood resilience fee, which will be managed by the tax collector. It mandates that special assessments related to the FRIZ program be committed to the tax collector and establishes that these assessments will constitute a lien against the property until fully paid. The bill also allows for grants or below-market loans to support qualifying improvements and provides tax credits and special assessments for properties that undertake such improvements. Overall, the legislation aims to enhance municipal support for flood resilience initiatives through expanded funding options and financial incentives, with the act set to take effect 60 days after passage.

Statutes affected:
Introduced: 79-E:4-a, 31:95-h, 79-E:2
HB1273 text: 79-E:4-a, 31:95-h, 79-E:2