Bill > HB1219

This bill requires the University System of Maryland to conduct a study, in coordination with various state agencies and emergency management representatives, to examine the connection between climate change, the availability and cost of homeowner's insurance, and disaster preparedness. The study will assess how climate change affects insurance, analyze the impact of federal disaster preparedness policies, evaluate federal funding for emergency management, and identify local disaster recovery resources. By July 1, 2027, the University System must report its findings and recommendations to the General Assembly, including an overview of the National Flood Insurance Program and the private flood insurance market, and suggestions on how the state can encourage residents to protect their homes from extreme weather through incentives like tax credits or grants, and how insurance rates could be adjusted for resilient homes or areas with improved infrastructure. The bill also allocates up to $100,000 from the Strategic Energy Investment Fund for this study and specifies an effective date of June 1, 2026.