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 seeks to address the challenges faced by communities affected by flooding by offering alternative solutions for property owners and enhancing overall flood resilience. By establishing these programs, the legislation aims to mitigate the impact of future flooding events and support affected residents in rebuilding their lives in safer, more sustainable ways.