(1) There is established within the Mississippi Department of Insurance the Strengthen Mississippi Homes Program to aid homeowners across the state in retrofitting insurable property to resist loss due to hurricane, tornado, hail, or other catastrophic windstorm events. This section does not create an entitlement for property owners or obligate the state in any way to fund the inspection or retrofitting of residential property in this state. The program is established to make financial grants to retrofit dwellings to resist loss due to hurricane, tornado, hail, or other catastrophic events that meet or exceed the FORTIFIED roof standard of the Insurance Institute for Business and Home Safety (IBHS) or an IBHS successor designation. For a dwelling to be considered for a retrofit grant from the Strengthen Mississippi Homes Program:(a) An eligible dwelling must be a single-family residence and not a condominium or manufactured home;(b) The dwelling must be the applicant’s primary residence;(c) The dwelling must be insured for windstorm loss and, if in a Special Flood Hazard Area, flood insurance is required;(d) The dwelling is in good repair, excluding roof condition; and(e) The dwelling has not previously been retrofitted to meet the IBHS FORTIFIED roof standard or an IBHS successor designation.
(a) An eligible dwelling must be a single-family residence and not a condominium or manufactured home;
(b) The dwelling must be the applicant’s primary residence;
(c) The dwelling must be insured for windstorm loss and, if in a Special Flood Hazard Area, flood insurance is required;
(d) The dwelling is in good repair, excluding roof condition; and
(e) The dwelling has not previously been retrofitted to meet the IBHS FORTIFIED roof standard or an IBHS successor designation.
No grant shall be awarded to an approved applicant without the eligible dwelling being inspected by a qualified Insurance Institute for Business and Home Safety (IBHS) evaluator and the homeowner receiving an IBHS FORTIFIED certificate. The Mississippi Department of Insurance shall adopt rules and regulations governing the Strengthen Mississippi Homes Program and funds deposited into the Strengthen Mississippi Homes Fund pursuant to Section 83-5-73, Mississippi Code of 1972, and as appropriated by the Legislature, or funds from any other source.
(2) The Mississippi Department of Insurance may enter into contracts for personal or professional services with a third-party administrator(s) for implementing the Strengthen Mississippi Homes Program, administering funds according to source, and managing functions with the Strengthen Mississippi Homes Program. Administration and issuance costs of the Strengthen Mississippi Homes Program may vary by source of funds, but no more than five percent (5%) of annual deposits in the Strengthen Mississippi Homes Program Fund created in Section 83-5-73, Mississippi Code of 1972, may be used for the administration and issuance of grants with the Strengthen Mississippi Homes Program.
(3) The Mississippi Department of Insurance is authorized to enter into a contract with an appropriate state or federal agency, Mississippi Windstorm Underwriters Association, or any appropriate entity to act on behalf of, administer, and perform any of the duties within the Strengthen Mississippi Homes Program. The Mississippi Department of Insurance shall segregate funds received based on contracts with other entities. For funds provided by any source other than in Section 83-5-73, Mississippi Code of 1972:(a) The Mississippi Department of Insurance may establish applicant eligibility requirements pursuant to and/or a condition of the source of funds.(b) The Mississippi Department of Insurance may receive a fee for services or resources attributed to the direct and indirect costs of administering funds received for the Strengthen Mississippi Homes Program, which shall not be subject to the five percent (5%) administrative cap applicable to state-sourced funds.
(a) The Mississippi Department of Insurance may establish applicant eligibility requirements pursuant to and/or a condition of the source of funds.
(b) The Mississippi Department of Insurance may receive a fee for services or resources attributed to the direct and indirect costs of administering funds received for the Strengthen Mississippi Homes Program, which shall not be subject to the five percent (5%) administrative cap applicable to state-sourced funds.
(4) (a) To meet the baseline eligibility requirements for the funds provided by legislative appropriation to the Strengthen Mississippi Homes Fund identified in Section 83-5-73, no financial grant made under this section shall exceed Ten Thousand Dollars ($10,000.00) per recipient. To be eligible for participation in the Strengthen Mississippi Homes Program and considered for a conditional grant, an applicant and subject dwelling must comply with rules and regulations of the program to meet or exceed the FORTIFIED roof standard of the Insurance Institute for Business and Home Safety (IBHS) or an IBHS successor designation. Applications shall be submitted via an online portal. Eligible applicants shall be selected through a lottery or other allocation mechanism established by the Mississippi Department of Insurance for eligibility requirements by source of funds and subject to the availability of funds. Upon successful completion of program requirements and receipt of the homeowners IBHS certificate, the Mississippi Department of Finance and Administration shall notify the applicant homeowner of the grant amount to be awarded to the homeowner’s certified building contractor and shall request information necessary for payment, as specified by the rules and regulations of the Mississippi Department of Insurance. Any grant award shall include the following language: “Funds were made available for this grant by the Mississippi State Legislature.”(b) For funds provided by any source other than those identified in Section 83-5-73, Mississippi Code of 1972, the Mississippi Department of Insurance may adjust grant maximums and eligibility criteria, including building code requirements, to remain in compliance with the specific mandates or conditions of that funding source.
(a) To meet the baseline eligibility requirements for the funds provided by legislative appropriation to the Strengthen Mississippi Homes Fund identified in Section 83-5-73, no financial grant made under this section shall exceed Ten Thousand Dollars ($10,000.00) per recipient. To be eligible for participation in the Strengthen Mississippi Homes Program and considered for a conditional grant, an applicant and subject dwelling must comply with rules and regulations of the program to meet or exceed the FORTIFIED roof standard of the Insurance Institute for Business and Home Safety (IBHS) or an IBHS successor designation. Applications shall be submitted via an online portal. Eligible applicants shall be selected through a lottery or other allocation mechanism established by the Mississippi Department of Insurance for eligibility requirements by source of funds and subject to the availability of funds. Upon successful completion of program requirements and receipt of the homeowners IBHS certificate, the Mississippi Department of Finance and Administration shall notify the applicant homeowner of the grant amount to be awarded to the homeowner’s certified building contractor and shall request information necessary for payment, as specified by the rules and regulations of the Mississippi Department of Insurance. Any grant award shall include the following language: “Funds were made available for this grant by the Mississippi State Legislature.”
(b) For funds provided by any source other than those identified in Section 83-5-73, Mississippi Code of 1972, the Mississippi Department of Insurance may adjust grant maximums and eligibility criteria, including building code requirements, to remain in compliance with the specific mandates or conditions of that funding source.
(5) There are created a series of special funds in the State Treasury to be known as the Strengthen Mississippi Homes Program Fund. Strengthen Mississippi Homes Funds may be segregated by source and eligibility requirements of funds. The funds shall consist of any monies from any source that are designated or made available for deposit into the funds. Monies in the fund shall be expended by the Mississippi Department of Insurance for the purposes as provided in this section. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund. Grants shall be subject to the annual appropriation of the Legislature.
(6) There is hereby created the Strengthen Mississippi Homes Program Advisory Council for the purpose of advising the Mississippi Department of Insurance in performance, efficiency, and operations of the Strengthen Mississippi Homes Program. The Mississippi Department of Insurance shall call a meeting of the advisory council in the months of January, June, and October of each year. The advisory council shall be composed of the following:(a) Three (3) members of the Senate appointed by the Lieutenant Governor, one (1) to be from each Mississippi Public Service Commission District, and one (1) of whom shall be the Chairman of the Senate Insurance Committee, or their designees;(b) Three (3) members of the House of Representatives appointed by the Speaker of the House, one (1) to be from each Mississippi Public Service Commission District, and one (1) of whom shall be the Chairman of the House of Representatives Insurance Committee, or their designees; and(c) The Executive Director of the Mississippi Windstorm Underwriters Association.
(a) Three (3) members of the Senate appointed by the Lieutenant Governor, one (1) to be from each Mississippi Public Service Commission District, and one (1) of whom shall be the Chairman of the Senate Insurance Committee, or their designees;
(b) Three (3) members of the House of Representatives appointed by the Speaker of the House, one (1) to be from each Mississippi Public Service Commission District, and one (1) of whom shall be the Chairman of the House of Representatives Insurance Committee, or their designees; and
(c) The Executive Director of the Mississippi Windstorm Underwriters Association.
Members of the advisory council shall receive per diem and expenses which shall be paid from the contingent expense funds of their respective houses in the same amounts as provided for committee meetings when the Legislature is not in session; however, no per diem and expenses for attending meetings of the advisory council shall be paid to legislative members while the Legislature is in session.
(7) No later than December 1 of each year, the Mississippi Department of Insurance shall submit to the Governor and the Legislature a report detailing for that calendar year the number of grants awarded; the number of homes mitigated; the number of IBHS FORTIFIED certificates issued; the estimated amount of premium discounts grant recipients were given through this program; a map with the location of awards granted; and the number of awards granted in each county. This report shall also be made public by placing it on the department’s website.