Bill Title: Amends the Home Equity Assurance Act. Provides that a governing commission may establish a program to provide a one-time per household direct relief payment in the form of a rebate to a member who owns a residence that is subject to flood damage. Provides that the governing commission may establish a limit on the amount of rebates that may be issued under this subsection. Provides that members shall be required to submit qualified receipts to the governing showing costs incurred as a result of flood damage to receive a rebate under the rebate program established under the provisions. Provides that the rebate shall provide up to 50% reimbursement, but shall not exceed $1,000. Provides that the rebate program shall last for 3 years unless reapproved by the governing commission.

Sponsorship: Partisan Bill (Democrat 5)

Status: (Passed) 2026-08-14 - Public Act . . . . . . . . . 104-0834 [SB3925 Detail]

Text: Latest bill text (Enrolled) [HTML]

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