Report Title:

Insurance; Loss Mitigation Grant Program

Description:

Reduces reimbursement amount for grants for wind resistive devices to 35% of costs. Deletes reimbursements for inspections under the loss mitigation grant program. Appropriates $1,000,000 for the program.

THE SENATE

S.B. NO.

2528

TWENTY-SECOND LEGISLATURE, 2004

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to insurance.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Section 431:22-104, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

"(a) Subject to the availability of funds and the standards in this article, grants for wind resistive devices shall be awarded by the commissioner:

(1) That reimburse [fifty] thirty-five per cent of costs incurred for the wind resistive devices and their installation [and inspection], up to a maximum total reimbursement of $2,100 per dwelling;

(2) On a first-come first-served basis, as determined by the commissioner; and

(3) For a wind resistive device or devices installed only in a single or multi-family residential dwelling."

SECTION 2. Section 431:22-104, Hawaii Revised Statutes, is amended by amending subsection (c) to read as follows:

"(c) In addition, a grant may be made to an applicant only if the applicant:

(1) Has met the descriptions, specifications, guidelines, and requirements established by the commissioner for the grant program;

(2) Has filed a completed application form, as determined solely by the commissioner, together with all supporting documentation required by the commissioner;

(3) Has, in the case of a building with multiple dwellings, filed together completed grant applications for all dwellings in the building; for installation of wind resistive devices indicated in section 431:22-104(b)(1), (2), and (4); provided that this requirement does not apply [[]to[]] section 431:22-104(b)(3);

(4) Has installed a wind resistive device or devices that have been designated and approved by the commissioner;

(5) Has fully paid, prior to applying for the grant, the cost of the wind resistive device or devices, as well as the installation [and inspection] costs for which the grant is sought. The grant shall be used to reimburse only these costs or a portion thereof;

(6) Has hired an inspector, determined by the commissioner to be qualified in accordance with the requirements of the commissioner, who has verified in writing that the installation of the wind resistive device or devices is complete and is in compliance with the grant program specifications, guidelines, and requirements, as determined by the commissioner;

(7) Has installed the wind resistive device or devices after July 1, 2002;

(8) Has provided any other information deemed necessary by the commissioner; and

(9) Has met all additional requirements needed to implement the grant program as determined by the commissioner."

SECTION 3. There is appropriated out of the general revenues of the State of Hawaii the sum of $1,000,000, or so much thereof as may be necessary for fiscal year 2004-2005, for the loss mitigation grant program established under chapter 431, article 22, Hawaii Revised Statutes.

SECTION 4. The sum appropriated shall be expended by the insurance commissioner for the purposes of this Act.

SECTION 5. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 6. This Act shall take effect upon its approval; provided that sections 3 and 4 shall take effect on July 1, 2004.

INTRODUCED BY:

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