Assembly Bill 695 establishes a landlord fire prevention grant program administered by the Department of Administration (DOA) to support landlords in implementing fire prevention and suppression measures in residential buildings. The program will provide grants to cover up to 50 percent of the costs incurred by landlords for measures such as installing fire sprinklers and providing fire extinguishers. Grants will be awarded on a first-come, first-served basis, with a total funding cap of $10,000,000 for the program.

The bill also includes provisions for the DOA to create application procedures and establish eligibility criteria for grant recipients. Additionally, it introduces new statutory sections, specifically 16.265 for the grant program and 20.505 (1) (ft) for the associated appropriation, ensuring that the necessary funding is allocated for the program's implementation.