STORM FORTIFIED and Wildfire Prepared Act

The STORM FORTIFIED and Wildfire Prepared Act authorizes $100 million annually from 2027 through 2036 to establish state-level revolving loan funds that provide grants to homeowners for installing storm-resistant roofs and wildfire-prepared home improvements. To receive federal capitalization, states must contribute at least 35 percent of the grant amount to their own fund, which then lends money to state agencies at an interest rate of no more than 1 percent. Homeowners are eligible for grants up to $10,000 if they meet specific criteria, including owning a primary residence, maintaining required property insurance, and ensuring the work is verified by qualified evaluators. The bill requires states to forgive the homeowner's repayment obligation for individuals with incomes below 120 percent of the area median income, while excluding new construction, condominiums, and mobile homes from participation.