The "Strengthen Arkansas Homes Act" establishes a program to provide financial assistance to property owners and nonprofit organizations for mitigating losses to insurable dwellings caused by catastrophic wind events, such as tornadoes and hail. It creates the "Strengthen Arkansas Homes Program Premium Tax Fund," funded by a portion of insurance premium taxes, allocating up to $12 million specifically for this purpose. The fund will be administered by the Insurance Commissioner and is designated solely for the program, ensuring that all deposited funds are protected from deductions or assessments. The Act also sets eligibility requirements for property owners, emphasizing compliance with FORTIFIED Home construction standards, and includes provisions for confidentiality regarding grant applications.

The bill introduces amendments to enhance the program's effectiveness, including criteria for eligible homes, allowing funding entities to set additional rules, and enabling audits to prevent fraud. Homeowners are required to hire certified contractors with valid licenses and insurance, and contractors are prohibited from billing for additional expenses after project completion. Insurance companies are mandated to provide premium discounts for properties certified under FORTIFIED Home standards and to offer optional roof upgrade provisions. The program allocates $10 million for grants and $2 million for administrative costs, with any unspent premium taxes reverting to general revenues. The Act is set to take effect on January 1, 2026.

Statutes affected:
Old version SB179 Original - 2-3-2025 09:12 AM: 19-6-301, 23-75-119(a), 23-76-131(c), 26-57-603(d), 26-57-610(b)
Old version SB179 V2 - 2-10-2025 11:20 AM: 19-6-301, 23-75-119(a), 23-76-131(c), 26-57-603(d), 26-57-610(b)
SB 179: 19-6-301, 23-75-119(a), 23-76-131(c), 26-57-603(d), 26-57-610(b)