An act relating to the Community Resilience and Disaster Mitigation Fund

This bill creates a new state grant program and funding fund to help Vermont municipalities prepare for and reduce the impact of natural disasters, particularly flooding. It directly affects cities, towns, fire districts, and villages that have adopted the state's model flood hazard bylaws, giving them priority for funding. The program will provide grants for technical assistance and projects like watershed restoration that reduce risks to communities, while the fund is financed by an annual assessment on insurance companies writing policies in Vermont. The Department of Public Safety will administer both the grant program and the fund, with an initial $15 million appropriation for 2024 and ongoing funding from insurance premium assessments.