HB507 Summary

• Establishes the Strengthen Alabama Homes Program within the Department of Insurance to provide grants for retrofitting residential property to resist hurricane and catastrophic windstorm damage.

• Creates the Strengthen Alabama Homes Fund within the State Treasury to administer the program, with funding dependent on annual legislative appropriations, federal grants, and other sources.

• Requires residential property owners to have homestead exemptions to be eligible for grants, which must be used for retrofitting work complying with local building codes and the Fortified for Existing Homes Program standards.

• Mandates mitigation contractors participate in a reimbursement process, with all projects requiring local permits and inspections subject to random reinspection by the department.

• Becomes effective January 1, 2012, with the Department of Insurance authorized to promulgate rules and eligibility requirements for program administration.