Bill > A02805

This bill enacts the "Residential Structure Fire Prevention Act of 2023," which provides several key measures to address fire hazards in homes. The bill: 1. Establishes a tax credit of up to $5,000 for homeowners who remove "cock loft" fire hazards, which refers to enclosed spaces between rafters and a suspended ceiling. 2. Requires the state insurance superintendent to provide an actuarially appropriate reduction in fire insurance or homeowners insurance premiums for residential properties equipped with smoke detecting alarm devices in cock lofts. 3. Mandates that state housing programs include the repair of cock lofts for the purpose of fire prevention and safety as a qualifying expenditure. The bill aims to incentivize homeowners to address these specific fire hazards, reduce insurance costs for those who install smoke detectors, and make it easier for homeowners to access state housing program funds to repair these fire-prone areas.