HB 5209, AN ACT IMPOSING A SURCHARGE ON CERTAIN INSURANCE POLICIES AND ESTABLISHING THE HEALTHY HOMES FUND

I cosponsored this Public Act and worked across the isle to get it passed:

This act imposes a $12 surcharge on the named insured under certain homeowners insurance policies issued over the next 11 years and authorizes the insurance commissioner to adopt implementing regulations. Revenue from the surcharge is deposited into the Healthy Homes Fund, which the act establishes.

Under the act, 85% of the surcharges collected, after subtracting an amount to cover the cost of an Insurance Department employee to facilitate collection, must be deposited into the Crumbling Foundations Assistance Fund to assist homeowners with concrete foundations damaged by the presence of pyrrhotite. The remaining 15% must be used by the Department of Housing (DoH) to fund:

  1. grants, up to a total of $1 million, from the Department of Economic and Community Development (DECD) to certain homeowners in New Haven and Woodbridge with structural damage from subsidence or water infiltration; and
  2. lead, radon, and other contaminant abatement activities, including necessary administrative expenses. (PA 18-179 limits these particular funds to lead removal, remediation, and abatement only. See “Related Acts” below.)

EFFECTIVE DATE: January 1, 2019, for the insurance surcharge provisions, and applicable to policies delivered, issued, or renewed on or after that date; and upon passage for the Healthy Homes Fund provisions.

Crumbling foundation surcharge PA18-160-HB-05209

HB-05209- Strike all AMD