House Bill No. 1576 establishes a new grant program aimed at hurricane and windstorm loss mitigation for single-family residential properties in Texas. The bill introduces Chapter 1813 to the Insurance Code, which outlines the creation of a hurricane and windstorm loss prevention grant program. This program will allow eligible property owners to apply for grants to retrofit their homes to better withstand hurricane and windstorm damage. The bill specifies that the program does not create an entitlement for property owners and does not obligate the state to fund inspections or retrofitting. The commissioner of insurance is tasked with establishing the program, setting eligibility requirements, and adopting necessary rules for implementation.

Additionally, the bill details the use of grant funds, which must be allocated for retrofitting properties to meet specific standards, such as those set by the Institute for Business and Home Safety. It also establishes a dedicated Hurricane and Windstorm Mitigation Account within the general revenue fund, which will be funded through various sources, including donations and legislative appropriations. The bill allows for the possibility of grants being administered through nonprofit organizations, ensuring that the funds are used in accordance with the program's requirements. The act is set to take effect on September 1, 2025.

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