IL HB5529

Creates the Strengthen Illinois Homes Program, a pilot grant program to help homeowners in high-risk areas retrofit properties against catastrophic wind and hail damage, with individual grants capped at $15,000 and priority given to applicants earning 80% or less of county median income.

Establishes the Strengthen Illinois Homes Fund to receive gifts, grants, and donations, with the Department of Insurance required to identify areas of need by July 1, 2028 based on historical weather data, premium-to-income ratios, and other risk factors.

Requires insurers to provide actuarially justified premium discounts to homeowners who meet FORTIFIED or equivalent mitigation standards, and mandates that insurers offer optional policy riders allowing claim payments to cover upgrades to mitigation standards.

Creates the Climate Risk Disclosure Law requiring insurance companies to participate in climate surveys issued by the National Association of Insurance Commissioners upon direction from the Department of Insurance.

Extends cancellation and non-renewal notice periods for homeowners insurance from 30 days to 60 days and establishes contractor eligibility requirements including FORTIFIED certification, $1 million liability coverage, and workers compensation insurance.