An Act establishing a flood mitigation and preparedness program

This bill establishes a dedicated Flood Mitigation and Preparedness Fund to provide grants and loans to Massachusetts communities and property owners. It directly affects communities participating in the federal flood insurance program and property owners with repeated flood damage (classified as "Severe Repetitive Losses" or "Repetitive Losses" under the National Flood Insurance Program), as well as vulnerable populations identified in state climate plans. Key provisions allow funding for specific flood mitigation projects like elevating buildings, installing flood vents, or wet/dry floodproofing, with requirements that projects reduce flood insurance premiums and comply with building codes. Communities must have approved hazard mitigation plans to access funds, and all projects require local code official review and final inspection documentation.