HB 2409 Summary

• Establishes a policy framework addressing state economic goals in disaster mitigation, economic diversification, import substitution, and community development to support recovery from the COVID-19 pandemic.

• Appropriates $23,560,000 for fiscal year 2022-2023 to the Department of Business, Economic Development, and Tourism (DBEDT) for nine specific projects including digital infrastructure, broadband development, remote work support, and creative industry spaces.

• Assigns implementation of two additional capital improvement projects (Saratoga Avenue infrastructure at $12,125,000 and Fisherman's Wharf bulkhead repair at $25,000,000) to DBEDT without requiring additional appropriations beyond the Supplemental Appropriations Act of 2022.

• Requires DBEDT to submit annual reports to the legislature by twenty days prior to regular sessions in 2023, 2024, and 2025 detailing project progress, outcomes, effectiveness in meeting state goals, and recommendations.

• Appropriated funds shall not lapse until June 30, 2024; takes effect July 1, 2022.