Relating to: creating a hazard mitigation revolving loan program, creating a Great Lakes erosion control revolving loan program, providing an exemption from emergency rule procedures, granting rule-making authority, and making an appropriation. (FE)

AB 209 creates two revolving loan programs: one for Great Lakes shoreline erosion control and another for hazard mitigation projects. It directly affects municipalities and homeowners threatened by erosion along Lake Michigan or Lake Superior, as well as local governments seeking funds for hazard mitigation. The bill establishes a $5 million appropriation from the environmental fund for the Great Lakes program and a separate hazard mitigation revolving loan fund using federal funds, state transfers, and loan repayments. All repaid loan principal and interest are recycled into the programs, creating a self-sustaining funding mechanism.