VA HB394

Increases the insurance assessment rate funding Virginia's Fire Programs Fund from 1% to 1.5% of direct gross premium income on July 1, 2026, then to 2% on July 1, 2027.

Assessment applies to licensed insurance companies writing fire, extended coverage, and related property insurance policies in Virginia.

Fire Programs Fund distributes 75% of available funds to localities based on population for fire service improvements, with minimum allocations of $10,000 for counties/cities and $4,000 for towns.

Fund supports firefighter training, equipment purchases, fire prevention education, training facility construction, and cancer prevention products for firefighters.

Fire Services Grant Program receives $1 million annually and Dry Fire Hydrant Grant Program receives $100,000 annually from the assessments.