Establishes a fund for Blue Acres acquisition and relocation projects; appropriates $25 million.
This bill establishes the Blue Acres Buyout Fund in the Department of Environmental Protection as a nonlapsing, revolving fund. The fund will receive $25 million from the General Fund and will be used for relocation assistance for homeowners and tenants displaced by a Blue Acres acquisition or for a Blue Acres acquisition of flood-prone property. The fund will also cover the cost of acquiring lands for Blue Acres projects.
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