LD652

This bill allows municipalities or plantations with established downtown tax increment financing districts to use funds for flood insurance.

This bill amends the law to authorize municipalities or plantations with established downtown tax increment financing districts to use funds for flood insurance assistance. The bill specifies that the municipality or plantation can allocate up to 25% of the annual tax increment to this program. Eligibility for the program is limited to businesses or developments that meet specific criteria, such as being located within a floodplain and demonstrating financial need.