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HB21-1208

Natural Disaster Mitigation Enterprise

Concerning the creation of an enterprise that is exempt from the requirements of section 20 of article X of the state constitution to administer a fee-based natural disaster mitigation grant program.
Session:
2021 Regular Session
Subjects:
Natural Resources & Environment
State Government
Bill Summary

Section 1 of the bill creates the natural disaster mitigation enterprise (enterprise). The enterprise collects a fee on insurance companies that offer certain insurance policies and uses the fee revenue to finance the natural disaster mitigation grant program and provide local governments technical assistance on natural disaster mitigation. The enterprise awards natural disaster mitigation grants to assist local governments in implementing resilience and natural disaster mitigation measures and to assist entities that apply for federal grants that require matching funds and are dedicated to assisting in the implementation of pre-disaster natural disaster mitigation measures.Section 2 sets the fee at $1.25 of every $1,000 in insurance premiums collected on certain policies by the insurance companies that offer those insurance policies.

The board of directors of the enterprise shall submit a report by July 1 of each year to the committees of reference of the general assembly to which the department of public safety is assigned regarding the grant program.


(Note: This summary applies to this bill as introduced.)

Status

Introduced
Under Consideration

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Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. L. Cutter, Rep. M. Gray
Sen. K. Priola, Sen. F. Winter

Sponsor

Co-sponsor

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