Bill > SF619

This bill establishes comprehensive new regulatory frameworks and appropriations related to several key areas of disaster recovery and insurance regulation in Iowa. The bill creates a Natural Hazard Mitigation Financing Program that allows the Iowa Finance Authority to issue bonds and provide loans to eligible entities for projects that mitigate natural hazard risks, such as drought, flooding, wildfires, and earthquakes. It also reforms regulations around disaster recovery housing assistance by expanding the types of financial assistance available and clarifying the application process. The bill introduces new licensing and conduct standards for public adjusters, appraisers, and umpires in insurance claims, including detailed requirements for professional conduct, conflict of interest disclosures, and disciplinary procedures. Additionally, the legislation modifies the Iowa Economic Emergency Fund to allow for more flexible appropriations during disaster emergencies, with a specific provision to appropriate 10% of the fund's maximum balance annually for disaster response and recovery activities. The bill also includes specific appropriations, such as $2 million for nuisance property remediation and $11.6 million for disaster recovery housing assistance. The provisions aim to improve the state's capacity to respond to and recover from natural disasters while enhancing professional standards in insurance claims processes.

Budget and Finance

Appropriations (S)

https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=SF619