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 bill outlines specific eligibility requirements for homeowners, which include that the homes must be owner-occupied, single-family primary residences in good repair, and not be condominiums or mobile homes. It mandates that all mitigation projects comply with local building codes and the standards set by the Insurance Institute for Business and Home Safety (IBHS). Additionally, the program allows for the application and receipt of financial grants or gifts to assist in constructing or retrofitting insurable properties.

A revolving fund, designated as the "Strengthen Rhody Homes Revolving Fund," is created to support the program, consisting of funds received from federal grants or other sources. The insurance superintendent is responsible for administering the program, including the approval of grant applications and oversight of contractors and evaluators involved in the projects. The legislation emphasizes the need for documentation and compliance with program rules, ensuring that grant funds are utilized specifically for enhancing home resilience against weather-related losses.

Statutes affected:
3150: 35-4-27