HI HB2036

Establishes the Fire-free Loan Program administered by the Director of Commerce and Consumer Affairs to provide interest-free loans to condominiums for installing fire sprinkler systems or alternative life-safety improvements required by county ordinance.

Loan terms are limited to a maximum of 20 years with no interest charges, and repayment of the first installment may be deferred for 6 months from the loan date.

Creates the fire-free revolving fund to be funded by legislative appropriations, loan repayments, and investment earnings, with moneys used for loans and administrative costs of the program.

Prioritizes loans to projects with the greatest impact on reducing risk of loss of life and property, with loans capped at an amount to be specified (amount left blank in bill).

Takes effect July 1, 2024, and includes declaration that the appropriation exceeds the state general fund expenditure ceiling for fiscal year 2024-2025 (specific amount left blank in bill).