Hazard Mitigation Revolving Loan Fund Program; establish.

HB 1317 would establish a Mississippi Hazard Mitigation Revolving Loan Fund to provide repayable loans for disaster risk reduction projects. It directly affects homeowners, businesses, nonprofits, and communities seeking to reduce flood, storm, or other natural hazard impacts through projects like floodproofing buildings, updating building codes, or improving floodplain management. The Mississippi Emergency Management Agency (MEMA) would administer the program, requiring applicants to demonstrate project need and repayment ability. Repaid loans would replenish the fund, creating a self-sustaining program to decrease property damage, insurance costs, and reliance on federal disaster aid.