This bill establishes a Municipal Flood Management Assistance Program within the New Jersey Department of Environmental Protection (DEP) to provide grants to municipalities for flood management initiatives. The program aims to assist municipalities in mitigating costs associated with flooding, particularly following storms, by offering support for flood risk assessments, mitigation measures, emergency preparedness, and public awareness campaigns. The DEP, in consultation with the Department of Transportation, will develop guidelines for grant applications, establish qualification criteria, prioritize assistance for municipalities in greatest need (especially in overburdened communities), and designate acceptable uses for grant funds.

The bill outlines that the grants will provide municipalities with tools and resources to identify high-risk flood areas, support both structural and non-structural solutions to reduce flood impacts, and promote land-use planning that minimizes flood risks. The DEP will also develop various tools for risk assessment and planning, including geographic information system-based mapping tools and technical assistance for integrating flood mitigation strategies into local development plans. Municipalities receiving grants will be required to report on their use of funds, and the DEP will submit an annual report to the Governor and Legislature on the program's effectiveness. The bill mandates that the DEP include sufficient funding in its annual budget request to support the program's objectives.