The bill amends Chapter 27-76 of the General Laws to establish the "Strengthen Rhody Homes" program within the Department of Business Regulation, Division of Insurance. This program is designed to provide grants to residential property owners in Rhode Island for resilience construction or retrofitting to enhance homes' ability to withstand hurricanes and other catastrophic events. The implementation of the program is contingent upon the availability of federal grants or other funding sources, and it does not create an entitlement for property owners.

The insurance superintendent is tasked with seeking additional funding and may also provide grants to nonprofit entities for similar projects, provided they adhere to specific guidelines. Eligibility for the grants is defined by criteria including that the property must be an owner-occupied single-family residence in good repair, and grant funds cannot be used for maintenance or repairs unrelated to resilience improvements.

The bill outlines the grant application process, which requires evaluations by certified IBHS evaluators and the hiring of IBHS-certified contractors. It establishes a revolving fund, designated the "Strengthen Rhody Homes Revolving Fund," to support the program, ensuring that funds are not subject to fiscal year limitations and can only be used for the program's purposes. Additionally, the bill includes provisions for the confidentiality of documents submitted in support of grant applications and allows for inspections to detect fraud. The act is set to take effect immediately upon passage.

Statutes affected:
3150: 35-4-27