An Act establishing a revolving fund to supplement the funding of waterway projects and coastal protection initiatives

This bill establishes a Coastal Protection and Harbor Maintenance Revolving Fund to help municipalities finance coastal protection and harbor maintenance projects. It allows the Department of Environmental Management to provide up to 50% of approved project costs (through low-interest loans or grants) to cover debt service or bonds for projects approved after January 1, 2021. The fund supplements, rather than replaces, other state assistance and directly affects municipalities with qualifying projects that maintain harbor access or protect coastlines. The department must create rules defining eligible projects and report annual funding requests and unmet demand to legislative committees. The fund is replenished through annual appropriations and must be used for projects meeting specific criteria outlined in the bill.