CO HB1208

Creates a Natural Disaster Mitigation Enterprise within the Department of Public Safety to administer a fee-based grant program for local governments implementing disaster mitigation measures

Imposes a $2 per policy fee on insurers offering fire, allied lines, private crop, farmers multiple peril, homeowners multiple peril, and commercial multiple peril insurance covering Colorado property, with collections beginning in 2022

Establishes a 13-member board appointed by the Department of Public Safety executive director, including representatives from government agencies, local governments, scientists, environmental justice advocates, and the insurance industry

Requires the enterprise to award at least 85% of annual fund revenue in grants to eligible entities (counties, municipalities, school districts, special districts) for resilience projects, with up to 10% for technical assistance and 5% for administrative costs

Repeals the enterprise effective January 1, 2030, and caps total fee revenue at $100 million over the first five fiscal years