The bill amends Chapter 27-76 of the General Laws by establishing the "Strengthen Rhody Homes" program within the Department of Business Regulation's Division of Insurance. This program is designed to provide grants to residential property owners in Rhode Island for resilience construction or retrofitting to protect homes against hurricanes and other catastrophic events. The implementation of the program is contingent upon securing federal grants or other funding sources, and it explicitly states that it does not create an entitlement for property owners or obligate the state to fund inspections or construction.

The insurance superintendent is responsible for obtaining necessary funding and may establish rules and eligibility requirements for the program. Homeowners seeking grants must meet specific eligibility criteria, including requirements related to property type, insurance coverage, and the use of certified evaluators and contractors. The bill also creates a revolving fund, designated the "Strengthen Rhody Homes Revolving Fund," to support the program, ensuring that funds are dedicated solely to its purpose and are not subject to fiscal year limitations.

Additionally, the legislation emphasizes compliance with local building codes and the standards set by the Insurance Institute for Business and Home Safety (IBHS). It allows for random inspections to detect fraud and ensures that all mitigation projects are based on securing required local permits and applicable inspections. The act will take effect upon passage.

Statutes affected:
7865: 35-4-27