Bill > S580

This bill establishes a Crumbling Concrete Assistance Fund to help homeowners whose residential properties have concrete foundations deteriorating due to the presence of pyrite or pyrrhotite (specific minerals known to cause concrete degradation). The fund, administered by the secretary of housing and livable communities, will provide financial assistance for foundation repair or replacement, minimize municipal fiscal impacts, and potentially reimburse homeowners who have already replaced their foundations. The fund can be credited with state appropriations, public and private donations, federal funds, and interest earnings, and any unspent balance will remain available in subsequent fiscal years. The bill also creates a stakeholder working group comprising government officials, industry representatives, and homeowner advocates to examine the most effective ways to administer assistance, including exploring funding models like insurance surcharges, potential new administrative structures, and consumer protection strategies. The working group is required to submit a comprehensive report with recommendations by February 1, 2026, and notably, any funds issued to homeowners for foundation repairs will be exempt from state income taxation. The bill aims to comprehensively address the significant infrastructure and financial challenges faced by homeowners with deteriorating concrete foundations.

Agriculture and Natural Resources

https://malegislature.gov/Bills/194/S580