MATCHING FUNDS FOR FLOODPLAIN LAND REHAB

HB 246 appropriates $62 million from the state general fund over fiscal years 2027-2029 to provide matching state funds for political subdivisions (like counties or municipalities) that have received federal approval to acquire and rehabilitate floodplain land. The bill directly affects local governments seeking to address flood risks by restoring floodplain areas to their natural state, reducing threats to life, safety, and public infrastructure. Key provisions require state matching funds to be used only for land already approved for federal assistance, with unspent funds reverting to the general fund by 2029. This policy change enables local flood risk mitigation projects through combined federal-state funding.