H.466 is a bill introduced by Representatives Waszazak and Galfetti that aims to enhance flood response and resilience in Vermont. The bill mandates the Agency of Commerce and Community Development to establish a voluntary buyout program specifically for flood-prone properties that do not qualify for Federal Emergency Management Agency (FEMA) buyouts or are identified by municipalities for redevelopment or restoration efforts. Additionally, the bill proposes the creation of a homeowner assistance program that would provide financial support for various initiatives, including elevating homes in flood-prone areas, relocating displaced residents to permanent housing, and rebuilding homes with flood-resilient materials and designs.

The bill reflects a proactive approach to managing flood risks and supporting affected communities by offering alternative solutions for property owners and enhancing the overall resilience of the infrastructure in flood-prone areas. By focusing on voluntary buyouts and homeowner assistance, the legislation aims to mitigate the impact of flooding and promote sustainable redevelopment practices.