Bill Title: Amends the Home Equity Assurance Act. In provisions authoring a governing commission with no less than $4,000,000 in its guarantee fund to establish a Low Interest Home Improvement Loan Program, provides that the loan may be used for repair or maintenance of a guaranteed residence's water and sewer pipes and repair of a guaranteed residence, including, but not limited to, basement repairs, following flooding damage or other natural disaster damage to the property (rather than following flooding damage to the property). Provides that a commission may use loan funds to issue a grant or rebate for repairs, maintenance, remodeling, alteration, or improvement of a guaranteed residence for purposes of preventing or repairing damage as a result of a natural disaster, including, but not limited to, flooding.

Sponsorship: Strong Partisan Bill (Democrat 14-1)

Status: (Passed) 2024-08-05 - Public Act . . . . . . . . . 103-0737 [HB4921 Detail]

Text: Latest bill text (Chaptered) [HTML]

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