Establishes the Residential and Commercial Property Acquisition Program Act to implement property acquisitions in high-hazard zones, paired with.

The bill establishes the Residential and Commercial Property Acquisition Program Act to implement residential or commercial property acquisitions in high-hazard zones, paired with funding for relocation costs within or proximate to the current community. It aims to restore acquired land to its natural habitat and enhance community resilience. The act includes a planning process for municipalities, a prioritization process for funding, and authorization for the Rhode Island infrastructure bank and the department to secure additional funding.

Establishes the Residential and Commercial Property Acquisition Program Act to implement property acquisitions in high-hazard zones, paired with.

The bill establishes the Residential and Commercial Property Acquisition Program Act to implement residential or commercial property acquisitions in high-hazard zones, paired with funding for relocation costs within or proximate to the current community. It aims to restore acquired land to its natural habitat and enhance community resilience. The act includes a planning process for municipalities, a prioritization process for funding, and authorization for the Rhode Island infrastructure bank and the department to secure additional funding.