Amendment ID: S3050-95

Amendment 95

Climate Resilient Homes

Messrs. Cyr, Fernandes and Eldridge move that the proposed new draft be amended in section 2F, in item 1100-2524, by adding the following words:- “; provided further, that not less than $20,000,000 shall be expended on a pilot program in which financial grants are made available to individual residents and nonprofit entities to retrofit residential properties covered by basic property insurance, as defined in section 1 of chapter 175C, to resist loss due to flood, hurricane, tornado or other significant weather events that result in property damage; provided further, that the executive office in consultation with the division of insurance may establish guidelines for the grant program established under this item; provided further, that the executive office shall submit a report that shall include, but not be limited to: (i) the number of projects funded through said grants; (ii) projected reductions in repair and rebuilding costs after incurred and anticipated climate related events; and (iii) best practices for state-level guidelines in administering such a program to maximize property risk reduction and insurance premium costs; provided further, that not later than June 30, 2027, said report shall be submitted to the house and senate committees on ways and means, the clerks of the house of representatives and senate, the chairs of the joint committee on financial services and the chairs of the joint committee on emergency preparedness and management”, and by striking out the figure “$50,000,000” and inserting in place thereof the following figure:- “$70,000,000”.