SB2874 Summary

• Establishes the Safe Home Program to provide grants for installation of wind resistive devices (roof reinforcements, opening protection, door upgrades, structural improvements, etc.) on single-family owner-occupied residences in Hawaii.

• Creates a Safe Home Program Trust Fund that receives $1,000,000 annually in interest from the Hurricane Reserve Trust Fund, with remaining interest going to the general fund.

• Offers nonmatching grants up to $6,500 for applicants with household income at or below 80% of county median income, and matching grants up to $5,200 (dollar-for-dollar match required) for higher-income applicants.

• Requires eligible properties to be primary legal residences with current homeowners or dwelling insurance coverage equal to or greater than fair market value.

• Establishes one temporary full-time position within the Department of Commerce and Consumer Affairs Insurance Division to implement and administer the program; effective July 1, 2050.