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)

SB 207 creates two revolving loan programs: one for hazard mitigation and another specifically for Great Lakes erosion control. The bill establishes a $5 million funding pool from the environmental fund, using repayments of principal and interest from existing loans to provide new loans for eligible projects. This program directly affects communities facing coastal erosion or natural hazards by offering low-cost financing for infrastructure improvements. The revolving nature means funds are recycled as loans are repaid, creating a sustainable funding source without requiring new annual appropriations.