SB3925 amends the Home Equity Assurance Act to allow governing commissions to establish a rebate program for flood damage.
SB3925 amends the Home Equity Assurance Act to allow governing commissions to establish a rebate program for flood damage. The program provides up to 50% reimbursement, not exceeding $1,000, for eligible applicants who own a residence subject to flood damage. The rebate program lasts for three years unless reapproved by the governing commission. The bill also outlines conditions for establishing various loan programs, including foreclosure prevention and delinquent tax repayment loans.
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- Legal Framework
- Critical Issues
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