relative to hazard mitigation funding.

HB 1488 establishes a new Municipal Hazard Mitigation Funding Program to help New Hampshire towns repair infrastructure and prevent damage from future natural disasters. The bill authorizes an initial $2 million transfer from state funds to support municipalities that have existing hazard mitigation plans but lack the money to implement them. To receive grants, towns must apply once per year for up to $50,000, providing details on specific projects and proving they cannot afford the work themselves. The program requires the state to review applications within 60 days and mandates that recipients complete their projects within three months of receiving funds. Additionally, the bill modifies the state disaster relief fund to allow it to be used for hazard mitigation projects and creates a committee to oversee individual and municipal assistance requests.