diff --git a/.changes/unreleased/Features-20241104-120653.yaml b/.changes/unreleased/Features-20241104-120653.yaml
new file mode 100644
index 00000000..a85e1f7f
--- /dev/null
+++ b/.changes/unreleased/Features-20241104-120653.yaml
@@ -0,0 +1,6 @@
+kind: Features
+body: Add new hard_deletes="new_record" mode for snapshots.
+time: 2024-11-04T12:06:53.225939-05:00
+custom:
+  Author: peterallenwebb
+  Issue: "317"
diff --git a/dbt-tests-adapter/dbt/tests/adapter/simple_snapshot/new_record_mode.py b/dbt-tests-adapter/dbt/tests/adapter/simple_snapshot/new_record_mode.py
new file mode 100644
index 00000000..c50f0ff9
--- /dev/null
+++ b/dbt-tests-adapter/dbt/tests/adapter/simple_snapshot/new_record_mode.py
@@ -0,0 +1,225 @@
+import pytest
+
+from dbt.tests.util import check_relations_equal, run_dbt
+
+_seed_new_record_mode = """
+create table {database}.{schema}.seed (
+    id INTEGER,
+    first_name VARCHAR(50),
+    last_name VARCHAR(50),
+    email VARCHAR(50),
+    gender VARCHAR(50),
+    ip_address VARCHAR(20),
+    updated_at TIMESTAMP WITHOUT TIME ZONE
+);
+
+create table {database}.{schema}.snapshot_expected (
+    id INTEGER,
+    first_name VARCHAR(50),
+    last_name VARCHAR(50),
+    email VARCHAR(50),
+    gender VARCHAR(50),
+    ip_address VARCHAR(20),
+
+    -- snapshotting fields
+    updated_at TIMESTAMP WITHOUT TIME ZONE,
+    dbt_valid_from TIMESTAMP WITHOUT TIME ZONE,
+    dbt_valid_to   TIMESTAMP WITHOUT TIME ZONE,
+    dbt_scd_id     TEXT,
+    dbt_updated_at TIMESTAMP WITHOUT TIME ZONE,
+    dbt_is_deleted TEXT
+);
+
+
+-- seed inserts
+--  use the same email for two users to verify that duplicated check_cols values
+--  are handled appropriately
+insert into {database}.{schema}.seed (id, first_name, last_name, email, gender, ip_address, updated_at) values
+(1, 'Judith', 'Kennedy', '(not provided)', 'Female', '54.60.24.128', '2015-12-24 12:19:28'),
+(2, 'Arthur', 'Kelly', '(not provided)', 'Male', '62.56.24.215', '2015-10-28 16:22:15'),
+(3, 'Rachel', 'Moreno', 'rmoreno2@msu.edu', 'Female', '31.222.249.23', '2016-04-05 02:05:30'),
+(4, 'Ralph', 'Turner', 'rturner3@hp.com', 'Male', '157.83.76.114', '2016-08-08 00:06:51'),
+(5, 'Laura', 'Gonzales', 'lgonzales4@howstuffworks.com', 'Female', '30.54.105.168', '2016-09-01 08:25:38'),
+(6, 'Katherine', 'Lopez', 'klopez5@yahoo.co.jp', 'Female', '169.138.46.89', '2016-08-30 18:52:11'),
+(7, 'Jeremy', 'Hamilton', 'jhamilton6@mozilla.org', 'Male', '231.189.13.133', '2016-07-17 02:09:46'),
+(8, 'Heather', 'Rose', 'hrose7@goodreads.com', 'Female', '87.165.201.65', '2015-12-29 22:03:56'),
+(9, 'Gregory', 'Kelly', 'gkelly8@trellian.com', 'Male', '154.209.99.7', '2016-03-24 21:18:16'),
+(10, 'Rachel', 'Lopez', 'rlopez9@themeforest.net', 'Female', '237.165.82.71', '2016-08-20 15:44:49'),
+(11, 'Donna', 'Welch', 'dwelcha@shutterfly.com', 'Female', '103.33.110.138', '2016-02-27 01:41:48'),
+(12, 'Russell', 'Lawrence', 'rlawrenceb@qq.com', 'Male', '189.115.73.4', '2016-06-11 03:07:09'),
+(13, 'Michelle', 'Montgomery', 'mmontgomeryc@scientificamerican.com', 'Female', '243.220.95.82', '2016-06-18 16:27:19'),
+(14, 'Walter', 'Castillo', 'wcastillod@pagesperso-orange.fr', 'Male', '71.159.238.196', '2016-10-06 01:55:44'),
+(15, 'Robin', 'Mills', 'rmillse@vkontakte.ru', 'Female', '172.190.5.50', '2016-10-31 11:41:21'),
+(16, 'Raymond', 'Holmes', 'rholmesf@usgs.gov', 'Male', '148.153.166.95', '2016-10-03 08:16:38'),
+(17, 'Gary', 'Bishop', 'gbishopg@plala.or.jp', 'Male', '161.108.182.13', '2016-08-29 19:35:20'),
+(18, 'Anna', 'Riley', 'arileyh@nasa.gov', 'Female', '253.31.108.22', '2015-12-11 04:34:27'),
+(19, 'Sarah', 'Knight', 'sknighti@foxnews.com', 'Female', '222.220.3.177', '2016-09-26 00:49:06'),
+(20, 'Phyllis', 'Fox', null, 'Female', '163.191.232.95', '2016-08-21 10:35:19');
+
+
+-- populate snapshot table
+insert into {database}.{schema}.snapshot_expected (
+    id,
+    first_name,
+    last_name,
+    email,
+    gender,
+    ip_address,
+    updated_at,
+    dbt_valid_from,
+    dbt_valid_to,
+    dbt_updated_at,
+    dbt_scd_id,
+    dbt_is_deleted
+)
+
+select
+    id,
+    first_name,
+    last_name,
+    email,
+    gender,
+    ip_address,
+    updated_at,
+    -- fields added by snapshotting
+    updated_at as dbt_valid_from,
+    null::timestamp as dbt_valid_to,
+    updated_at as dbt_updated_at,
+    md5(id || '-' || first_name || '|' || updated_at::text) as dbt_scd_id,
+    'False' as dbt_is_deleted
+from {database}.{schema}.seed;
+"""
+
+_snapshot_actual_sql = """
+{% snapshot snapshot_actual %}
+
+    {{
+        config(
+            unique_key='id || ' ~ "'-'" ~ ' || first_name',
+        )
+    }}
+
+    select * from {{target.database}}.{{target.schema}}.seed
+
+{% endsnapshot %}
+"""
+
+_snapshots_yml = """
+snapshots:
+  - name: snapshot_actual
+    config:
+      strategy: timestamp
+      updated_at: updated_at
+      hard_deletes: new_record
+"""
+
+_ref_snapshot_sql = """
+select * from {{ ref('snapshot_actual') }}
+"""
+
+
+_invalidate_sql = """
+-- update records 11 - 21. Change email and updated_at field
+update {schema}.seed set
+    updated_at = updated_at + interval '1 hour',
+    email      =  case when id = 20 then 'pfoxj@creativecommons.org' else 'new_' || email end
+where id >= 10 and id <= 20;
+
+
+-- invalidate records 11 - 21
+update {schema}.snapshot_expected set
+    dbt_valid_to   = updated_at + interval '1 hour'
+where id >= 10 and id <= 20;
+
+"""
+
+_update_sql = """
+-- insert v2 of the 11 - 21 records
+
+insert into {database}.{schema}.snapshot_expected (
+    id,
+    first_name,
+    last_name,
+    email,
+    gender,
+    ip_address,
+    updated_at,
+    dbt_valid_from,
+    dbt_valid_to,
+    dbt_updated_at,
+    dbt_scd_id,
+    dbt_is_deleted
+)
+
+select
+    id,
+    first_name,
+    last_name,
+    email,
+    gender,
+    ip_address,
+    updated_at,
+    -- fields added by snapshotting
+    updated_at as dbt_valid_from,
+    null::timestamp as dbt_valid_to,
+    updated_at as dbt_updated_at,
+    md5(id || '-' || first_name || '|' || updated_at::text) as dbt_scd_id,
+    'False' as dbt_is_deleted
+from {database}.{schema}.seed
+where id >= 10 and id <= 20;
+"""
+
+_delete_sql = """
+delete from {schema}.seed where id = 1
+"""
+
+
+class SnapshotNewRecordMode:
+    @pytest.fixture(scope="class")
+    def snapshots(self):
+        return {"snapshot.sql": _snapshot_actual_sql}
+
+    @pytest.fixture(scope="class")
+    def models(self):
+        return {
+            "snapshots.yml": _snapshots_yml,
+            "ref_snapshot.sql": _ref_snapshot_sql,
+        }
+
+    @pytest.fixture(scope="class")
+    def seed_new_record_mode(self):
+        return _seed_new_record_mode
+
+    @pytest.fixture(scope="class")
+    def invalidate_sql(self):
+        return _invalidate_sql
+
+    @pytest.fixture(scope="class")
+    def update_sql(self):
+        return _update_sql
+
+    @pytest.fixture(scope="class")
+    def delete_sql(self):
+        return _delete_sql
+
+    def test_snapshot_new_record_mode(
+        self, project, seed_new_record_mode, invalidate_sql, update_sql
+    ):
+        project.run_sql(seed_new_record_mode)
+        results = run_dbt(["snapshot"])
+        assert len(results) == 1
+
+        project.run_sql(invalidate_sql)
+        project.run_sql(update_sql)
+
+        results = run_dbt(["snapshot"])
+        assert len(results) == 1
+
+        check_relations_equal(project.adapter, ["snapshot_actual", "snapshot_expected"])
+
+        project.run_sql(_delete_sql)
+
+        results = run_dbt(["snapshot"])
+        assert len(results) == 1
+
+        # TODO: Further validate results.
diff --git a/dbt/adapters/base/impl.py b/dbt/adapters/base/impl.py
index 44817a18..ae172635 100644
--- a/dbt/adapters/base/impl.py
+++ b/dbt/adapters/base/impl.py
@@ -206,6 +206,14 @@ class FreshnessResponse(TypedDict):
     age: float  # age in seconds
 
 
+class SnapshotStrategy(TypedDict):
+    unique_key: Optional[str]
+    updated_at: Optional[str]
+    row_changed: Optional[str]
+    scd_id: Optional[str]
+    hard_deletes: Optional[str]
+
+
 class BaseAdapter(metaclass=AdapterMeta):
     """The BaseAdapter provides an abstract base class for adapters.
 
@@ -795,8 +803,8 @@ def valid_snapshot_target(
         columns = self.get_columns_in_relation(relation)
         names = set(c.name.lower() for c in columns)
         missing = []
-        # Note: we're not checking dbt_updated_at here because it's not
-        # always present.
+        # Note: we're not checking dbt_updated_at or dbt_is_deleted here because they
+        # aren't always present.
         for column in ("dbt_scd_id", "dbt_valid_from", "dbt_valid_to"):
             desired = column_names[column] if column_names else column
             if desired not in names:
@@ -805,6 +813,28 @@ def valid_snapshot_target(
         if missing:
             raise SnapshotTargetNotSnapshotTableError(missing)
 
+    @available.parse_none
+    def assert_valid_snapshot_target_given_strategy(
+        self, relation: BaseRelation, column_names: Dict[str, str], strategy: SnapshotStrategy
+    ) -> None:
+        # Assert everything we can with the legacy function.
+        self.valid_snapshot_target(relation, column_names)
+
+        # Now do strategy-specific checks.
+        # TODO: Make these checks more comprehensive.
+        if strategy.get("hard_deletes", None) == "new_record":
+            columns = self.get_columns_in_relation(relation)
+            names = set(c.name.lower() for c in columns)
+            missing = []
+
+            for column in ("dbt_is_deleted",):
+                desired = column_names[column] if column_names else column
+                if desired not in names:
+                    missing.append(desired)
+
+            if missing:
+                raise SnapshotTargetNotSnapshotTableError(missing)
+
     @available.parse_none
     def expand_target_column_types(
         self, from_relation: BaseRelation, to_relation: BaseRelation
@@ -1795,6 +1825,29 @@ def _get_adapter_specific_run_info(cls, config) -> Dict[str, Any]:
         """
         return {}
 
+    @available.parse_none
+    @classmethod
+    def get_hard_deletes_behavior(cls, config):
+        """Check the hard_deletes config enum, and the legacy invalidate_hard_deletes
+        config flag in order to determine which behavior should be used for deleted
+        records in a snapshot. The default is to ignore them."""
+        invalidate_hard_deletes = config.get("invalidate_hard_deletes", None)
+        hard_deletes = config.get("hard_deletes", None)
+
+        if invalidate_hard_deletes is not None and hard_deletes is not None:
+            raise DbtValidationError(
+                "You cannot set both the invalidate_hard_deletes and hard_deletes config properties on the same snapshot."
+            )
+
+        if invalidate_hard_deletes or hard_deletes == "invalidate":
+            return "invalidate"
+        elif hard_deletes == "new_record":
+            return "new_record"
+        elif hard_deletes is None or hard_deletes == "ignore":
+            return "ignore"
+
+        raise DbtValidationError("Invalid setting for property hard_deletes.")
+
 
 COLUMNS_EQUAL_SQL = """
 with diff_count as (
diff --git a/dbt/include/global_project/macros/materializations/snapshots/helpers.sql b/dbt/include/global_project/macros/materializations/snapshots/helpers.sql
index b4cd7c14..33492cc9 100644
--- a/dbt/include/global_project/macros/materializations/snapshots/helpers.sql
+++ b/dbt/include/global_project/macros/materializations/snapshots/helpers.sql
@@ -35,7 +35,7 @@
 {% endmacro %}
 
 {% macro get_snapshot_table_column_names() %}
-    {{ return({'dbt_valid_to': 'dbt_valid_to', 'dbt_valid_from': 'dbt_valid_from', 'dbt_scd_id': 'dbt_scd_id', 'dbt_updated_at': 'dbt_updated_at'}) }}
+    {{ return({'dbt_valid_to': 'dbt_valid_to', 'dbt_valid_from': 'dbt_valid_from', 'dbt_scd_id': 'dbt_scd_id', 'dbt_updated_at': 'dbt_updated_at', 'dbt_is_deleted': 'dbt_is_deleted'}) }}
 {% endmacro %}
 
 {% macro default__snapshot_staging_table(strategy, source_sql, target_relation) -%}
@@ -82,7 +82,7 @@
         from snapshot_query
     ),
 
-    {%- if strategy.invalidate_hard_deletes %}
+    {%- if strategy.hard_deletes == 'invalidate' or strategy.hard_deletes == 'new_record' %}
 
     deletes_source_data as (
 
@@ -96,6 +96,9 @@
         select
             'insert' as dbt_change_type,
             source_data.*
+          {%- if strategy.hard_deletes == 'new_record' -%}
+            ,'False' as {{ columns.dbt_is_deleted }}
+          {%- endif %}
 
         from insertions_source_data as source_data
         left outer join snapshotted_data
@@ -113,6 +116,9 @@
             'update' as dbt_change_type,
             source_data.*,
             snapshotted_data.{{ columns.dbt_scd_id }}
+          {%- if strategy.hard_deletes == 'new_record' -%}
+            , snapshotted_data.{{ columns.dbt_is_deleted }}
+          {%- endif %}
 
         from updates_source_data as source_data
         join snapshotted_data
@@ -122,9 +128,8 @@
         )
     )
 
-    {%- if strategy.invalidate_hard_deletes -%}
+    {%- if strategy.hard_deletes == 'invalidate' or strategy.hard_deletes == 'new_record' %}
     ,
-
     deletes as (
 
         select
@@ -134,7 +139,38 @@
             {{ snapshot_get_time() }} as {{ columns.dbt_updated_at }},
             {{ snapshot_get_time() }} as {{ columns.dbt_valid_to }},
             snapshotted_data.{{ columns.dbt_scd_id }}
+          {%- if strategy.hard_deletes == 'new_record' -%}
+            , snapshotted_data.{{ columns.dbt_is_deleted }}
+          {%- endif %}
+        from snapshotted_data
+        left join deletes_source_data as source_data
+            on {{ unique_key_join_on(strategy.unique_key, "snapshotted_data", "source_data") }}
+            where {{ unique_key_is_null(strategy.unique_key, "source_data") }}
+    )
+    {%- endif %}
+
+    {%- if strategy.hard_deletes == 'new_record' %}
+        {% set source_sql_cols = get_column_schema_from_query(source_sql) %}
+    ,
+    deletion_records as (
 
+        select
+            'insert' as dbt_change_type,
+            {%- for col in source_sql_cols -%}
+            snapshotted_data.{{ adapter.quote(col.column) }},
+            {% endfor -%}
+            {%- if strategy.unique_key | is_list -%}
+                {%- for key in strategy.unique_key -%}
+            snapshotted_data.{{ key }} as dbt_unique_key_{{ loop.index }},
+                {% endfor -%}
+            {%- else -%}
+            snapshotted_data.dbt_unique_key as dbt_unique_key,
+            {% endif -%}
+            {{ snapshot_get_time() }} as {{ columns.dbt_valid_from }},
+            {{ snapshot_get_time() }} as {{ columns.dbt_updated_at }},
+            snapshotted_data.{{ columns.dbt_valid_to }} as {{ columns.dbt_valid_to }},
+            snapshotted_data.{{ columns.dbt_scd_id }},
+            'True' as {{ columns.dbt_is_deleted }}
         from snapshotted_data
         left join deletes_source_data as source_data
             on {{ unique_key_join_on(strategy.unique_key, "snapshotted_data", "source_data") }}
@@ -145,10 +181,15 @@
     select * from insertions
     union all
     select * from updates
-    {%- if strategy.invalidate_hard_deletes %}
+    {%- if strategy.hard_deletes == 'invalidate' or strategy.hard_deletes == 'new_record' %}
     union all
     select * from deletes
     {%- endif %}
+    {%- if strategy.hard_deletes == 'new_record' %}
+    union all
+    select * from deletion_records
+    {%- endif %}
+
 
 {%- endmacro %}
 
@@ -165,6 +206,9 @@
         {{ strategy.updated_at }} as {{ columns.dbt_updated_at }},
         {{ strategy.updated_at }} as {{ columns.dbt_valid_from }},
         {{ get_dbt_valid_to_current(strategy, columns) }}
+      {%- if strategy.hard_deletes == 'new_record' -%}
+        , 'False' as {{ columns.dbt_is_deleted }}
+      {% endif -%}
     from (
         {{ sql }}
     ) sbq
diff --git a/dbt/include/global_project/macros/materializations/snapshots/snapshot.sql b/dbt/include/global_project/macros/materializations/snapshots/snapshot.sql
index 0c9590b6..683a0c58 100644
--- a/dbt/include/global_project/macros/materializations/snapshots/snapshot.sql
+++ b/dbt/include/global_project/macros/materializations/snapshots/snapshot.sql
@@ -37,7 +37,7 @@
 
       {% set columns = config.get("snapshot_table_column_names") or get_snapshot_table_column_names() %}
 
-      {{ adapter.valid_snapshot_target(target_relation, columns) }}
+      {{ adapter.assert_valid_snapshot_target_given_strategy(target_relation, columns, strategy) }}
 
       {% set build_or_select_sql = snapshot_staging_table(strategy, sql, target_relation) %}
       {% set staging_table = build_snapshot_staging_table(strategy, sql, target_relation) %}
diff --git a/dbt/include/global_project/macros/materializations/snapshots/strategies.sql b/dbt/include/global_project/macros/materializations/snapshots/strategies.sql
index f9f5afbd..49a381e8 100644
--- a/dbt/include/global_project/macros/materializations/snapshots/strategies.sql
+++ b/dbt/include/global_project/macros/materializations/snapshots/strategies.sql
@@ -54,7 +54,8 @@
     {# The model_config parameter is no longer used, but is passed in anyway for compatibility. #}
     {% set primary_key = config.get('unique_key') %}
     {% set updated_at = config.get('updated_at') %}
-    {% set invalidate_hard_deletes = config.get('invalidate_hard_deletes') or false %}
+    {% set hard_deletes = adapter.get_hard_deletes_behavior(config) %}
+    {% set invalidate_hard_deletes = hard_deletes == 'invalidate' %}
     {% set columns = config.get("snapshot_table_column_names") or get_snapshot_table_column_names() %}
 
     {#/*
@@ -78,7 +79,8 @@
         "updated_at": updated_at,
         "row_changed": row_changed_expr,
         "scd_id": scd_id_expr,
-        "invalidate_hard_deletes": invalidate_hard_deletes
+        "invalidate_hard_deletes": invalidate_hard_deletes,
+        "hard_deletes": hard_deletes
     }) %}
 {% endmacro %}
 
@@ -141,7 +143,8 @@
     {# The model_config parameter is no longer used, but is passed in anyway for compatibility. #}
     {% set check_cols_config = config.get('check_cols') %}
     {% set primary_key = config.get('unique_key') %}
-    {% set invalidate_hard_deletes = config.get('invalidate_hard_deletes') or false %}
+    {% set hard_deletes = adapter.get_hard_deletes_behavior(config) %}
+    {% set invalidate_hard_deletes = hard_deletes == 'invalidate' %}
     {% set updated_at = config.get('updated_at') or snapshot_get_time() %}
 
     {% set column_added = false %}
@@ -175,6 +178,7 @@
         "updated_at": updated_at,
         "row_changed": row_changed_expr,
         "scd_id": scd_id_expr,
-        "invalidate_hard_deletes": invalidate_hard_deletes
+        "invalidate_hard_deletes": invalidate_hard_deletes,
+        "hard_deletes": hard_deletes
     }) %}
 {% endmacro %}