The "Blue Wave Bond for Coastal Preparedness Act" proposes a bond measure that would authorize the State of Rhode Island to issue up to one hundred million dollars ($100,000,000) in general obligation bonds, subject to voter approval, to fund coastal preparedness and resilience projects. The funds will be allocated for shoreline protection, flood mitigation, stormwater and wastewater upgrades, protection of critical facilities, port and working waterfront resilience, and workforce preparedness and training programs to support resilience-related jobs and infrastructure investments.

A minimum of 25% of the bond proceeds will be designated for competitive grants to municipalities and regional entities, ensuring equitable investment across the state. All funded projects must align with the state's resilience report and prioritize high-risk areas identified within it. The administering agency is required to create a Blue Wave Bond Implementation Plan and provide annual updates on the status and outcomes of the funded projects.

Sections 1, 2, 10, and 11 of this act will take effect upon passage, while the remaining sections will take effect only when the state board of elections certifies that a majority of the qualified electors voting on the proposition have approved the bond issuance in November 2026.