Insurance; Fire Programs Fund; purposes; Aid to Localities Grant Program. Increases the assessment on certain insurance companies from one percent to 1.5 percent. The bill provides that the portion of the Fire Programs Fund allocated to localities may be used for the additional purposes of (i) constructing, improving, or expanding fire station facilities; (ii) providing mental health resources for fire personnel; or (iii) hiring additional fire personnel and funding recruitment and retention programs. The bill also prohibits such funds from being used, except as provided, for the purposes of investments, operating expenses, debt repayment, taxes, or fees. The bill also establishes the Aid to Localities Grant Program, to be funded by 0.25 percent of the assessments on insurance companies, for the purposes of providing assistance to local fire departments that are at risk of closing or facing major violations due to the lack of funds needed to be in compliance with relevant laws and regulations.

Statutes affected:
Introduced: 38.2-401
Labor and Commerce Subcommittee Substitute : 38.2-401