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HB 8169

AN ACT RELATING TO WATERS AND NAVIGATION -- RESIDENTIAL AND COMMERCIAL PROPERTY ACQUISITION PROGRAM ACT

2026 Regular Session Introduced by Jennifer Boylan and 4 co-sponsors

Creates a voluntary buyout program in high-hazard areas funded for managed retreat, with post-buyout land restoration and resilience-focused redevelopment.

04/14/2026 Committee recommended measure be held for further study
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Bill Summary · HB 8169

Summary: HB 8169 (Rhode Island) — Residential and Commercial Property Acquisition Program Act

Purpose and intent

  • Establishes a voluntary Residential and Commercial Property Acquisition Program in high-hazard zones to fund and facilitate buyouts of at-risk properties.
  • Aims to relocate affected residents and businesses to safer areas, restore acquired parcels to natural habitat, and repurpose land to bolster shoreline or riverine access, outdoor recreation, and community resilience.
  • Integrates risk assessment, planning, funding, and post-buyout land use with broader resilience efforts.

Key provisions and changes

Chapter creation and definitions

  • Creates Rhode Island General Laws Chapter 46-34: Residential and Commercial Property Acquisition Program Act.
  • Defines core terms:
    • Community vulnerability assessment: a systematic evaluation of hazards, assets, and adaptive capacity; includes social vulnerability considerations and informs resilience investments.
    • Council: Coastal Resource Management Council.
    • Department: Department of Environmental Management.

Funding and financing

  • Allocates $500,000 in the 2026-2027 fiscal year for technical assistance to municipalities through the Resilient Rhody Infrastructure Fund to plan for managed retreat (46-34-4).
  • Establishes a framework for catastrophe bonds and revolving funds to support voluntary buyouts (46-34-5, 46-34-6). The Treasurer’s Office may issue catastrophe bonds and allocate proceeds to eligible municipalities when storms trigger buyouts.

Eligibility, planning, and process

  • All municipalities eligible for initial technical-assistance funding to begin planning (46-34-5(a)).
  • Within eight months of enactment, agencies must create a managed retreat planning process:
    • Municipal vulnerability assessments, prioritization of parcels/neighborhoods for buyouts (with potential storm-event triggers), cost estimates, and coordination with funding applications.
    • Designation of a staff member to assist homeowners with pre-filing for federal/state/municipal funding.
    • Post-buyout land use: municipality may take ownership, pursue public-private partnerships for public-benefit uses, ensure a state easement, align with Special Area Management Plans (where applicable), and provide public parking; permanent structures prohibited on acquired parcels (46-34-5(b)).
  • Municipalities completing this process become eligible for revolving loan funds, grants, and catastrophe-bond funds (46-34-5(c)).

Funding prioritization and timeline

  • Within eight months: establish a funding-prioritization process after public hearing and stakeholder engagement (46-34-6(a)).
  • Consideration of municipal revenue streams dedicated to resilience funding (e.g., tax increment districts, stormwater/sewer districts, impact fees) in prioritization (46-34-6(b)).
  • By 16 months: award funds to eligible municipalities (and annually thereafter, subject to funds) (46-34-6(c)).
  • In a triggering storm, funds from catastrophe bonds should be disbursed within one month to affected municipalities (46-34-6(d)).

Other authorities and requirements

  • Authorities to seek federal matching funds and use Resilient Rhody funds as matches (46-34-7).
  • Insurance discounts negotiated for voluntaries buyouts; discounts or proceeds may be allocated to the Resilient Rhody Infrastructure Fund (46-34-8).
  • Housing-award criteria to prioritize municipalities that engaged in planning and revised zoning/development policies to accommodate residents relocating via buyouts (46-34-9).

Who is affected

  • Municipalities: planning requirements, vulnerability assessments, buyout prioritization, and potential post-buyout land use changes.
  • Property owners in high-hazard zones: voluntary participation in buyouts with relocation and potential insurance-discount mechanisms.
  • State agencies: Rhode Island Infrastructure Bank, Department of Environmental Management, Coastal Resource Management Council, Department of Housing, Department of Revenue (Treasurer’s Office opponent for catastrophe bonds), and Department of Business Regulation for insurance-related provisions.

Procedural/timeline notes

  • Act effective upon passage.
  • Initial planning processes and funding prioritization to be established within eight to sixteen months of enactment, with ongoing annual funding considerations conditional on available appropriations and the prioritization framework. Catastrophe-bond-triggered disbursements occur promptly after storm events.

Overall, HB 8169 provides a structured, funded pathway for managed retreat in high-risk areas, focusing on voluntary buyouts, land restoration, and improved community resilience.

Compiled from official sources — confirm details with the bill’s official record.

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