RI S2804

Expands eligible uses of Rhode Island Infrastructure Bank funds to include insurability planning and risk interpretation tools for local governments receiving grants from the OSCAR fund, Resilient Rhody Infrastructure Fund, and Municipal Resilience Program

Authorizes funding for tools that quantify financial risk and evaluate risk financing and transfer investments, including insurance and alternative risk transfer methods to reduce catastrophic event recovery costs

Creates a new Municipal Resilience Program section (46-12.2-28) explicitly allowing local governments to use designated funds for resiliency-related infrastructure planning and insurability planning

Adds "insurability of the adaptation and resilience project" as a factor the technical advisory committee must consider when prioritizing OSCAR fund grant applications

Expands the definition of "adaptation and resilience projects" to include risk financing and transfer investments that protect nature-based solutions from catastrophic risk