2018-04-12: Committee transferred to House Municipal Government
2018-04-17: Scheduled for hearing and/or consideration (04/26/2018)
2018-04-26: Committee recommended measure be held for further study
2018-06-16: Scheduled for consideration (06/19/2018)
2018-06-19: Committee recommends passage of Sub A
2018-06-19: Placed on House Calendar
2018-06-19: Placed on House Calendar (06/20/2018)
2018-06-20: House passed Sub A
2018-07-02: Signed by Governor
Changes since original draft
2018 – H 8033
S TATE OF RHODE IS L AND
IN GENERAL ASSEMBLY
JANUARY SESSION, A.D. 2018
A N A C T
RELATINGTO TOWNSAND CITIES– COASTAL AND RIVERINEHOMEPROTECTION
Introduced By: Representatives Carson, and Shekarchi
Date Introduced: March 30, 2018
Referred To: House Finance
It is enacted by the GeneralAssembly as follows:
SECTION 1. Title 45 of the General Laws entitled "TOWNS AND CITIES" is hereby amended by adding thereto the following chapter:
COASTAL AND RIVERINE HOME PROTECTION
(1) It is declared to be a public benefit to encourage the rehabilitation and renovation of structures in a municipality by increasing their resilience to storm surge, sea level rise and extreme precipitation.
(2) Flooding and storm-related erosion is causing problems for land owners on our open ocean coastline and rivers.
(3) Rhode Island has a strong coastalresources management program that has historically been very protective of naturalshorelines.
(4) The coastalresource management council (CRMC) created by chapter 23 of title 46 is the principal mechanism for management of the state's coastal resources. CRMC's efforts are essential to secure the rights of the people of Rhode Island to the use and enjoyment of the natural resources of the state as wellas the maintenance of property values located on our shorelines and rivers and the depreciating effect coastal and riverine flooding has on the property located thereon.
(5) The special study commission created by resolution No. 392 passed by the house of representatives at its January session A.D. 2015, and approved June 17, 2015 entitled "House Resolution Creating the Rhode Island House Commission on Economic Risk Due to Flooding and Sea Rise"has determined:
(i) That one of the best ways to prevent property damage due to sea level rise and flooding is to fortify vulnerable assets;
(ii) That the state needs to develop an approach and develop a philosophy of resilience;
(iii) That the state uncover vulnerabilities and understand the economic value at risk using statistic and probability based models for sea levelrise; and
(iv) That policymakers need to protect homeowners by incentivizing resilience thereby insuring our assets.
(6) A tax relief program for coastal and riverine properties subject to storm surge, sea level rise, riverine flooding and extreme precipitation is needed for sustainability and resiliency, stabilization of property values and the municipal tax base, as well as community revitalization to those communities which are determined by CRMC to be in an area likely to be affected by flooding.
(7) Or any other adaptation measure by CRMC as being appropriate to reduce damage from the risks of storm surge, sea levelrise and extreme precipitation.
45-69-2. Coastal and riverine resilience - Tax credit.
(a) The various cities and towns may provide, by ordinance, a tax credit to be provided in this chapter against any tax imposed pursuant to the generallaws to the valuation of any parcelof real property as defined in § 45-31-8 which is located in an area determined by the coastal resource management council to be susceptible to flooding and which will or has required rehabilitation or renovation as a result of the damage caused by, or risk of damage from storm surge, sea levelrise, riverine flooding and extreme precipitation.
(b) The tax credit amount pursuant to this chapter shall be determined by the local tax assessors and based on the severity of the risk to the property and/or the amount of damage done to the property which is within an area determined by CRMC to be susceptible to flooding. The local tax assessors of the various cities and towns shall be authorized to develop a tax credit formula for issuing tax credits pursuant to this section by assessing the cost of sustainability and resiliency measures a taxpayer has performed to repair damage or are necessary to prevent future damage and may employ whatever services necessary including, but not limited to, real estate appraisers, construction professionals, or any other professional in property valuation, in determined the amount of the tax credit pursuant to this chapter.
(c) Tax credits allowed pursuant to this chapter shall be allowed for the taxable year in
LC005005 - Page 2of 4 which the rehabilitation or renovation occurs.
(d) If the amount of the tax credit exceeds the taxpayers total tax liability for the year in which the rehabilitation or renovation work occurred, the amount that exceeds the taxpayer's tax liability may be carried forward for credit against the taxes imposed for the succeeding ten (10) years, or until the full credit is used, whichever occurs first for the tax credits.
(e) The municipality implementing a tax credit for property located in a coastal or riverine area shall determine what resilience measures it deems qualifying for tax credits including, but not limited to, the following provisions derived from the Hazard Mitigation Assistance Unified Guidance publication issued by the Federal Emergency Management Agency Department of Homeland Security:
(1) Dry floodproofing of residential structures;
(2) Infrastructure retrofit;
(3) Mitigation reconstruction;
(4) Soil stabilization;
(6) Structuralretrofitting of existing buildings and facilities;
(7) Wind retrofit; and
(8) Any additional measures the Rhode Island Emergency Management Agency believes are imperative to preserving the coastal or riverine property and residential structures and which are reasonably expected to achieve their purpose.
If a court of competent jurisdiction shall adjudge to be invalid or unconstitutional any clause, sentence, paragraph, section or part of this chapter or the application of it to any person or circumstance, the adjudication shall not affect, impair, invalidate or nullify the remainder of this chapter, or the applications of this chapter, which can be given effect without the invalid provision application, but the effect of the court's adjudication shall be confined to the clause, sentence, paragraph, or section or part of this chapter, or application of it, which can be given effect without the invalid provision or application so adjudged to be invalid or unconstitutional.
SECTION 2. This act shalltake effect upon passage.
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BY THE LEGISLATIVE COUNCIL
A N A C T RELATINGTO TOWNSAND CITIES– COASTALAND RIVERINE HOMEPROTECTION
This act would enable cities and towns to provide property tax relief to individuals who take resiliency measures to rehabilitate their property because of flood hazards.
This act would take effect upon passage. ======== LC005005 ========
LC005005 - Page 4of 4
NOTE: Electronic voting records are unofficial and may not be accurate. For an official vote tally, check the
House or Senate Journal from the day of the vote.