STORM FORTIFIED and Wildfire Prepared Act

This bill, known as the Safeguarding Tomorrow through Ongoing Risk Mitigation FORTIFIED and Wildfire Prepared Act, aims to enhance residential resilience against natural disasters. It authorizes the appropriation of $100,000,000 annually for fiscal years 2027 through 2036 to capitalize or recapitalize the STORM FORTIFIED Roof Revolving Loan Funds administered by the Federal Emergency Management Agency (FEMA). FEMA is authorized to provide capitalization grants to eligible states, referred to as entities, to establish their own revolving loan funds. These state-level funds will then offer financial assistance to homeowners for installing mitigation measures that achieve FORTIFIED Roof, FORTIFIED Home, or Wildfire Prepared Home designations . Participating entities must contribute a local share of at least 35 percent of the capitalization grant amount to their loan funds. The entity loan funds can be used to make loans to state agencies at an interest rate of not more than 1 percent, with repayment periods of up to 20 or 30 years for low-income areas. These funds also cover reasonable administrative costs, ensuring the program's operational efficiency. Each participating entity must submit an annual intended use plan detailing targeted geographies, expected grant numbers, and projected loan schedules. State agencies receiving loans from these revolving funds must establish homeowner grant programs. Eligibility criteria for homeowners include the dwelling being a primary residence , proof of appropriate insurance coverage (wind, flood, or fire depending on the designation), and the dwelling being suitable for the mitigation work. New construction, condominiums, and mobile homes are explicitly excluded from eligibility. Grants under these programs can cover specific construction upgrades, including labor and materials, up to a state-set cap of $10,000 per project . All work must be performed by qualified contractors and verified by certified evaluators to ensure compliance with the FORTIFIED or Wildfire Prepared Home standards. A key provision mandates the forgiveness of repayment or cost-share obligations for grants made to individual homeowners whose income is below 120 percent of the area median income. The Administrator will conduct regular reviews and audits to ensure the effectiveness of the funds and may make recommendations for improvements. Furthermore, the bill encourages state agencies to coordinate with insurers to recognize FORTIFIED Roof, FORTIFIED Home, or Wildfire Prepared Home certifications for actuarially justified premium discounts , thereby promoting broader adoption of resilient building standards.