Bill
H 466
Establishes a voluntary flood-buyout program (ACCD) and homeowner assistance to elevate, relocate, or rebuild flood-prone homes, cut repeated flood losses, and restore floodplains.
Status & key sponsors
- Introduced: March 27, 2025
- Sponsor (short form): Rep. Edward “Teddy” Waszazak (sponsor listing also shows Representatives Waszazak and Galfetti in a short form cover sheet)
- Current status (from provided materials): Read first time and referred to the Committee on General and Housing; hearing scheduled for 05/12/2025 (per docket).
- Note: The publicly available short form omits the full text; the description below is based on the bill’s statement of purpose as introduced.
Purpose and intent
- Create state programs to reduce future flood risk by (1) establishing a voluntary buy‑out program for flood‑prone properties that cannot or do not participate in FEMA buyouts or that municipalities have identified for floodplain restoration/redevelopment, and (2) providing homeowner assistance to support elevating, relocating, or rebuilding homes using flood‑resilient designs and materials.
- Overall aim: decrease repeated flood losses, enable floodplain restoration or resilient redevelopment, and help displaced or vulnerable homeowners obtain safer, permanent housing.
Key provisions (as described in the short form)
- Voluntary buy‑out program
- To be established and administered by the Vermont Agency of Commerce and Community Development (ACCD).
- Targets properties that are either ineligible for FEMA buyouts or identified by municipalities as priorities for buyouts to allow floodplain restoration or resilient redevelopment.
- Participation is voluntary (no forced acquisitions).
- Homeowner assistance program
- Financial assistance mechanisms for homeowners in flood‑prone areas, including:
- Elevation of existing homes above flood levels,
- Relocation assistance to permanent housing for displaced residents,
- Support for rebuilding homes using flood‑resilient materials and designs.
- Administrative details (eligibility criteria, application process, funding sources, benefit levels, and other operational rules) are not included in the short form and would be specified in the full bill or implementing guidance.
Who would be affected
- Homeowners and occupants of flood‑prone properties (especially those ineligible for FEMA buyouts).
- Municipalities that identify properties for buyouts or coordinate relocations and land use changes.
- State agencies (ACCD and possibly housing, environmental, and emergency management agencies) tasked with program administration.
- Communities prone to repetitive flooding — potential long‑term reductions in flood losses and changes in land use (e.g., conversion of buy‑out parcels to open space or restored floodplain).
Procedural/timeline aspects
- Short form introduced 03/27/2025 and referred to General and Housing Committee.
- Hearing scheduled for 05/12/2025 (per provided docket).
- Full implementation hinges on committee action, passage, and any required appropriations or rulemaking; the short form does not specify funding or effective dates.
Fiscal and policy considerations (observations)
- Fiscal impact not specified in the short form; likely requires state appropriations or identification of federal/state funding streams for buyouts, elevations, relocations, and rebuilding assistance.
- Potential benefits: reduced future disaster assistance costs, public safety improvements, and ecological benefits from restored floodplains.
- Potential challenges: establishing equitable buyout valuation, ensuring affordable housing availability for relocated residents, and municipal capacity to coordinate buyouts and land conversion.
Open questions / unknowns
- Funding source(s), total cost estimates, and whether the bill authorizes or directs specific appropriations.
- Detailed eligibility, prioritization criteria, and benefit amounts or formulas.
- Administrative procedures, timelines for buyouts, and post‑buyout land use requirements.
For the full legal effect and program details, consultation of the bill’s full text (when filed) or committee report is recommended.
Compiled from official sources — confirm details with the bill’s official record.
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