Requires the Hawaii Hurricane Relief Fund to implement a grant program to provide financial assistance to residential property owners who install wind damage mitigation devices.

A BILL FOR AN ACT

SECTION 1. Section 431P-12, Hawaii Revised Statutes, is amended to read as follows:

"[[]§431P-12[]] Mitigation. (a) The fund shall develop a comprehensive loss reduction plan for the hurricane peril. The plan shall include standards for new residential and commercial structures and separate standards for existing residential and commercial structures. The plan shall provide a timetable for implementation of mandatory loss mitigation measures for both new and existing structures.

(b) In addition to any plan required under subsection (a), the fund shall develop and implement a program, not subject to chapter 42F, 91, or 103D, to provide grants to residential property owners for installation of fund-approved wind damage mitigation devices that lessen the probability of property loss due to strong winds. Grants shall be available to current and former policyholders of the fund to the extent of available funds. The fund may spend up to $           for the grant program, including for the costs of administering and advertising the program. Grants shall be awarded on a dollar for dollar matching funds basis up to a maximum $3,500 per insured location. The costs of property inspection required by the grant program may be made payable by the property owner and may be used towards meeting the matching funds amounts."

SECTION 2. There is appropriated out of the hurricane reserve trust fund the sum of $         , or so much thereof as may be necessary for fiscal year 2001-2002, and $          , or so much thereof as may be necessary for fiscal year 2002-2003, for the hazard mitigation grant program established in section 431P-12(b).

The sums appropriated shall be expended by the Hawaii hurricane relief fund for the purposes of this Act.

SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 4. This Act shall take effect on July 1, 2001.