RI H7865

Establishes the "Strengthen Rhody Homes" program within the Department of Business Regulation to provide grants to Rhode Island homeowners for retrofitting homes to resist hurricane and catastrophic weather damage

Program implementation is contingent on receiving federal grants or other external funding sources; does not create any entitlement or state funding obligation

Eligible properties must be owner-occupied single-family primary residences in good repair; condominiums and mobile homes are excluded

Requires homes to be retrofitted to Insurance Institute for Business and Home Safety (IBHS) FORTIFIED standards (Roof, Silver, or Gold designation) using IBHS-certified contractors and evaluators

Creates a dedicated "Strengthen Rhody Homes Revolving Fund" exempt from the state's 15% indirect cost recovery requirement, with priority given to lower-income applicants and those in areas with higher susceptibility to catastrophic weather events