The proposed bill establishes the "Strengthen Washington Homes Program," which aims to provide financial grants to property owners, building contractors, and nonprofit organizations for wildfire risk mitigation in insurable dwellings. The program will assist in implementing wildfire preparedness standards set by the Insurance Institute for Business and Home Safety. To manage the program, a dedicated account will be created, funded through grants and appropriations from the legislature, and the commissioner will have the authority to accept donations and conduct pilot projects. Additionally, the bill amends existing laws to prevent insurers from using wildfire risk as a disqualifying factor for property insurance coverage if the property meets specific wildfire preparedness designations. Furthermore, the bill introduces the strengthen Washington homes program account as an eligible recipient of earnings from the treasury income account, reflecting a commitment to support housing initiatives. It also clarifies that no appropriation is required for certain payments and refunds related to the federal Cash Management Improvement Act. The state treasurer will distribute earnings from the treasury income account monthly, crediting the general fund and ensuring that various accounts receive their proportionate share based on their average daily balance. The bill includes provisions for the expiration of certain sections, with specific dates outlined for their termination, reinforcing the temporary nature of some of its provisions.

Statutes affected:
Original bill: 48.02.190