SB 1140 Hawaii Senate · 2026 Regular Session

RELATING TO INSURANCE OF LAST RESORT.

Summary

Establishes the Fair Access to Insurance Requirements (FAIR) Program, which shall be established in and administered by the Department of Commerce and Consumer Affairs to ensure that residents in high-risk areas can purchase affordable and comprehensive property insurance coverage for their residential properties. Authorizes the Director of Commerce and Consumer Affairs to issue revenue bonds in amounts authorized by the Legislature, in which case the Premium Stabilization Fund shall be established by the Director. Effective 7/1/2050. (SD1)

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2025

Committee Review

Feb 2025

Senate Passage

Feb 2025

House Passage

Governor

Introduced Jan 17, 2025 Last action Dec 8, 2025

Maddy AI version diff · 1 comparison

What changed between versions

SB1140 → SB1140_SD1 · 7 edits

MODERATE

The bill was updated from a House version to a Senate version, shifting the sponsor and changing the effective date to July 1, 2050. The text was reformatted to match Senate markup standards, and the description was expanded to explicitly mention the Director's authority to issue revenue bonds and establish a Premium Stabilization Fund.

Scope change

The bill's scope remains focused on establishing a state-mandated insurance program for high-risk residential properties, but the description now more clearly outlines the funding mechanisms available to the Director.

TIMELINE

The effective date of the Act was changed from July 1, 2025, to July 1, 2050.

TECHNICAL

The bill title and metadata were updated to reflect the Senate version (SD1) and new sponsor, Jane Lee.

The text was reformatted to align with Senate markup conventions, including adding specific spacing and line breaks.

DEFINITION

The definition of 'Program' was updated to specify that it is established within the Department of Commerce and Consumer Affairs.

REQUIREMENT

Section -3 was modified to explicitly state that the FAIR Program is established within the Department of Commerce and Consumer Affairs.

Section -9 was modified to require that the Premium Stabilization Fund be established in the state treasury rather than just generally established.

DESCRIPTION

The bill description was expanded to explicitly authorize the Director to issue revenue bonds and establish the Premium Stabilization Fund.

Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 10, 2025

Upper · Passed

Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM/JDC.

upper

Feb 10, 2025

Committee

Reported from CPN (Stand. Com. Rep. No. 174) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM/JDC.

upper

Jan 31, 2025

Upper · Passed

The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 3 Aye(s): Senator(s) Keohokalole, Fukunaga, McKelvey; Aye(s) with reservations: none ; 0 No(es): none; and 2 Excused: Senator(s) Richards, Awa.

upper

Jan 24, 2025

Upper · Passed

The committee(s) on CPN has scheduled a public hearing on 01-31-25 9:30AM; Conference Room 229 & Videoconference.

upper

Jan 23, 2025

Committee

Referred to CPN, WAM/JDC.

upper

Jan 17, 2025

Introduced

Introduced.

upper

3 primary · 1 co-sponsor