Kentucky
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House Bill 256

Actions | Amendments

Last Action	04/05/24: signed by Governor
Title	AN ACT relating to the promotion of stronger homes to resist losses due to catastrophic weather events and making an appropriation therefor.
Bill Documents	Current/Final Introduced
Fiscal Impact Statements	Fiscal Note Additional Fiscal Impact Statements Exist
Bill Request Number	1360
Sponsor	M. Pollock
Summary of Original Version	Create a new section of Subtitle 2 of KRS Chapter 304 to establish the Strengthen Kentucky Homes Program; establish purpose; create the Strengthen Kentucky Homes Program fund; require the commissioner of insurance to promulgate administrative regulations to implement and administer program; create new sections of Subtitle 13 of KRS Chapter 304 to require property insurance companies to provide a premium discount or rate reduction for properties that have received a qualifying certificate of compliance under certain circumstances; permit the insurance commissioner to promulgate administrative regulations to establish standard discount amounts, targets, or benchmarks for coverage; require property insurance companies to offer an optional rider, endorsement, or supplemental policy provision to upgrade non-FORTIFIED single-family dwellings under certain circumstances; provide that Sections 2 and 3 of Act apply to insurance policies and contracts issued or renewed on or after March 1, 2026; provide when submissions are required for premium discounts or rate reductions and the optional rider, endorsement, or supplemental policy provision under Sections 2 and 3 of this Act; provide that the Act may be cited as the Strengthen Kentucky Homes Act; APPROPRIATION.
Index Headings of Original Version	Fiscal Note - Strengthen Kentucky Homes Program, creation Housing, Building, and Construction - Property insurance, requirements, FORTIFIED homes Housing, Building, and Construction - Strengthen Kentucky Homes Program, creation Insurance - Property insurance, requirements, FORTIFIED homes Insurance - Strengthen Kentucky Homes Program, creation Real Estate - Property insurance, requirements, FORTIFIED homes Real Estate - Strengthen Kentucky Homes Program, creation Safety - Property insurance, requirements, FORTIFIED homes Safety - Strengthen Kentucky Homes Program State Agencies - Department of Insurance, Strengthen Kentucky Homes Program, implementation and administration Administrative Regulations and Proceedings - Insurance commissioner, standard insurance discounts, targets, and benchmarks, FORTIFIED Homes Administrative Regulations and Proceedings - Insurance commissioner, Strengthen Kentucky Homes Program, implementation and administration Appropriations - Strengthen Kentucky Homes Program fund, creation Short Titles and Popular Names - Strengthen Kentucky Homes Act
Jump to Proposed Amendments	House Committee Substitute 1 with Fiscal Impact Statements House Committee Substitute 2 with Fiscal Impact Statements
Votes	Vote History

Actions

Top | Amendments

01/16/24	introduced in House to Committee on Committees (H)
01/23/24	to Banking & Insurance (H)
01/31/24	reported favorably, 1st reading, to Calendar with Committee Substitute (1)
02/01/24	2nd reading, to Rules
02/02/24	recommitted to Appropriations & Revenue (H)
03/05/24	reported favorably, to Rules with Committee Substitute (2)
03/06/24	posted for passage in the Regular Orders of the Day for Thursday, March 07, 2024
03/07/24	3rd reading, passed 91-0 with Committee Substitute (2)
03/08/24	received in Senate to Committee on Committees (S)
03/13/24	to Banking & Insurance (S)
03/21/24	reported favorably, 1st reading, to Consent Calendar
03/22/24	2nd reading, to Rules as a consent bill
03/25/24	posted for passage in the Consent Orders of the Day for Tuesday, March 26, 2024
03/26/24	passed over and retained in the Consent Orders of the Day
03/27/24	passed over and retained in the Consent Orders of the Day
03/28/24	3rd reading, passed 37-1 received in House enrolled, signed by Speaker of the House enrolled, signed by President of the Senate delivered to Governor
04/05/24	signed by Governor

Proposed Amendments

Top | Actions

Amendment	House Committee Substitute 1
Fiscal Impact Statement	Fiscal Note to House Committee Substitute 1
Summary	Retain original provisions, except remove exclusions of manufactured or mobile home; remove approval requirement for premium discounts or rate reductions required under Section 2 of Act; specify that an insurer may provide a premium discount or rate reduction in accordance with any standard discount amounts, targets, or benchmarks established by the insurance commissioner.
Index Headings	Fiscal Note - Property insurance, requirements, FORTIFIED homes Housing, Building, and Construction - Property insurance, requirements, FORTIFIED homes Insurance - Property insurance, requirements, FORTIFIED homes Real Estate - Property insurance, requirements, FORTIFIED homes Safety - Property insurance, requirements, FORTIFIED homes State Agencies - Department of Insurance, Strengthen Kentucky Homes Program, implementation and administration Administrative Regulations and Proceedings - Insurance commissioner, standard insurance discounts, targets, and benchmarks, FORTIFIED Homes

Amendment	House Committee Substitute 2
Fiscal Impact Statement	Fiscal Note to House Committee Substitute 2
Summary	Retain original provisions, except remove exclusions of manufactured or mobile home; provide that a financial grant may be provided to mitigate owner-occupied insurable dwellings; require the insurance commissioner to establish eligibility criteria for evaluators of insurable dwellings; amend requirements for providing a premium discount, rate reduction, or other adjustment; specify that an insurer may provide a premium discount or rate reduction in accordance with any standard discount amounts, targets, or benchmarks established by the insurance commissioner; amend definitions of "cost to upgrade the single-family dwelling" and "non-FORTIFIED dwelling."
Index Headings	Fiscal Note - Property insurance, requirements, FORTIFIED homes Housing, Building, and Construction - Property insurance, requirements, FORTIFIED homes Insurance - Property insurance, requirements, FORTIFIED homes Real Estate - Property insurance, requirements, FORTIFIED homes Safety - Property insurance, requirements, FORTIFIED homes State Agencies - Department of Insurance, Strengthen Kentucky Homes Program, implementation and administration Administrative Regulations and Proceedings - Insurance commissioner, standard insurance discounts, targets, and benchmarks, FORTIFIED Homes

Last updated: 4/22/2024 3:57 PM (EDT)