HI SR84

Requests the Insurance Commissioner to consult with the Department of Taxation regarding establishment of a Wind Resistance Retrofit Tax Credit Program for property owners installing wind-resistant devices.

Proposes an income tax credit for installation of wind-resistant devices approved by the Insurance Commissioner to reduce property damage from hurricanes, tropical storms, and strong winds.

Aims to protect public health and safety while stimulating economic growth through business and employment opportunities in the sale and installation of wind-resistant devices.

Requires the Insurance Commissioner to submit findings, recommendations, and any proposed legislation to the Legislature no later than twenty days prior to the Regular Session of 2025.