HB5484 - Climate-Safe Affordable Housing Act

• Creates the Climate-Safe Affordable Housing Act requiring the Department of Natural Resources to submit a report to the General Assembly and Governor by June 30, 2025.

• Defines "climate-safe affordable housing" as affordable housing that is constructed to resist natural hazards identified in the State natural hazard mitigation plan and not located in flood-prone areas or areas predicted to become flood-prone due to climate change.

• Report must review information and research on climate-safe affordable housing and provide recommendations on: current stock of climate-safe affordable housing in flood-prone areas, displacement costs from flooding events, climate change impacts on flooding, impacts of property buyout programs, policies assisting displaced populations, and strategies for long-term stability of flood-displaced communities.

• Requires the Department of Natural Resources to consult with multiple state and federal agencies including the Illinois Emergency Management Agency, EPA, Housing Development Authority, HUD, FEMA, and the Metropolitan Water Reclamation District of Greater Chicago.

• Act takes effect immediately upon enactment.