Bill > S720

This bill establishes the Strengthen Massachusetts Homes Program and Fund within the division of insurance to help property owners retrofit residential properties to be more resilient against climate-related natural disasters like floods, hurricanes, tornados, and windstorms. The program aims to apply for financial grants to help property owners modify their homes to better withstand potential damage from these types of events. The fund will be maintained separately from other state funds and cannot be transferred or redistributed, with monies dedicated specifically to program purposes. While the program does not create an entitlement for property owners and is subject to legislative appropriations and available grants, it will seek federal and other funding sources to support home retrofitting efforts. The program can also provide grants to nonprofit entities for similar retrofitting projects, provided they follow specific administrative guidelines. All mitigation projects must comply with local building codes, obtain necessary permits, and may be subject to random reinspection. The division of insurance will have the authority to establish rules and eligibility requirements for the program, ensuring proper implementation and management of the climate resilience initiative.

Budget and Finance, Business and Industry

https://malegislature.gov/Bills/194/S720