This bill amends the West Virginia Flood Resiliency Trust Fund provisions under the State Resiliency and Flood Protection Plan Act. It raises the capitalization of the Flood Fund from an initial amount of $40 million to $250 million, reflecting the increased need for resources following severe flooding events in 2024-2025 that affected over 7,368 households, properties, and bridges. Additionally, the bill allocates $1 million from the Revenue Shortfall Fund to the Disaster Recovery Trust Fund to support Disaster Care Management and recovery costs for the affected areas over the next two years.

Furthermore, the bill mandates that the State Resiliency Officer, with the State Auditor's concurrence, present an annual expenditure report to the State Resiliency Office Board by December 1. After the board verifies the expenditures, it will submit a budget to the Governor by December 31, with a request to replenish the Flood Fund up to the new capitalization amount. The bill also stipulates that at least six percent of any Community Development Block Grant-Disaster Recovery funds received for flood disaster events must be dedicated to Flood Resiliency Plan development and implementation, ensuring compliance with federal laws and alignment with the state's long-term recovery goals.

Statutes affected:
Introduced Version: 29-31-13