RI H8169

Establishes a voluntary property buyout program for residential and commercial properties in high-hazard zones, with funding for relocation to safer areas within or near the current community

Appropriates $500,000 in the 2026-2027 fiscal year budget to the Resilient Rhody Infrastructure Fund for technical assistance to municipalities planning managed retreat

Requires the Rhode Island Infrastructure Bank, Department of Environmental Management, and Coastal Resources Management Council to create a managed retreat planning process within 8 months of enactment

Municipalities completing the planning process become eligible for revolving loan funds, grants, and catastrophe bond funds; the state treasurer may issue catastrophe bonds to cover voluntary buyout costs after qualifying storm events

Acquired parcels must be restored to natural habitat for public shoreline/riverine access and recreation, with permanent structures prohibited; the Department of Housing must prioritize development funds to municipalities accommodating relocated residents