HI HB1474

Establishes a three-year Insurance Affordability Assistance Pilot Program within the Department of Commerce and Consumer Affairs' Insurance Division to help homeowners facing sudden property insurance premium increases

Provides one-time grants of up to $5,000 per household or 50% of the premium increase (whichever is less) to eligible homeowners who experienced at least a 25% premium increase

Eligibility requires demonstrated financial hardship, including household income at or below 80% of area median income, recent unemployment, high debt-to-income ratio, or fixed income status

Appropriates $1,000,000 from general revenues for fiscal year 2025-2026 and the same amount for fiscal year 2026-2027, deposited into the compliance resolution fund

Requires the Insurance Division to submit progress reports to the legislature by 2027 and a final report by 2028; program sunsets on June 30, 2028