The bill establishes a Natural Hazard Mitigation Financing Program in Iowa, which aims to provide loans to eligible entities for projects that mitigate the impacts of natural hazards. It creates a dedicated revolving loan fund managed by the Department of Homeland Security and Emergency Management, funded through appropriations from the General Assembly and federal grants. The bill outlines the roles of the department and the Iowa Finance Authority in administering the program, including the issuance of bonds and notes, and specifies that these funds will not be part of the state’s general fund. Additionally, it amends existing laws to incorporate the new program and its funding mechanisms, ensuring compliance with federal regulations under the STORM Act.

Furthermore, the bill modifies the Disaster Recovery Housing Assistance Program by removing the requirement for homeowners or renters to register for the disaster case advocacy program to be eligible for financial assistance. It introduces a new state disaster recovery housing grant and outlines regulations for post-loss assignments of benefits concerning residential contractors. The bill emphasizes the licensing and regulation of adjusters, appraisers, and umpires, detailing the requirements for licensure, including criminal history checks and the consequences for violations. Overall, the legislation aims to enhance disaster recovery efforts and improve the regulatory framework for insurance adjusters and appraisers in Iowa.

Statutes affected:
Introduced: 16.28, 16.232, 16.57B, 29C.6, 422.35, 507B.4, 515.137A, 505.8, 522C.2, 522C.4, 522C.5, 522C.6, 522C.15, 522B.5A, 522B.11, 522F.3, 8.55