SB 558

The bill requires the Department of Military Affairs to create a program to award grants to individuals and businesses that are adversely affected by a disaster that is the subject of a state of emergency declared by the governor on or after January 1, 2025.

Under the bill, a grant of not more than $25,000 may be awarded to an individual for the eligible disaster-related expenses of fixing or replacing personal property damaged by a disaster, home repair conducted by a contractor approved by the federal Department of Housing and Urban Development that is necessary due to damage from a disaster, and temporary housing assistance.

Also under the bill, a grant of not more than $50,000 may be awarded to a business for the eligible disaster-related expenses of fixing or replacing the business’s property damaged by a disaster, repair to the business necessary due to damage from a disaster, payroll assistance, working capital, and other normal business operating expenses. “Business” is defined in the bill to mean business or financial institution authorized to conduct the activities of the business or financial institution in this state pursuant to a certificate of authority from the Department of Financial Institutions.

Under the bill, individuals and businesses must provide to DMA a receipt for any disaster-related eligible expenses for which they seek a grant; apply for the grant in the manner determined by DMA within 90 days after the governor declares an emergency or within 90 days after the date on which the bill becomes law, whichever is later; and sign and provide to DMA an affidavit committing to return to DMA any part of a grant received that is duplicated by the receipt of insurance money or other source of disaster-related assistance that is not a loan awarded directly by the federal government. Additionally, no grants for individuals or businesses may be awarded if the president of the United States has declared a major disaster to exist in this state and federal aid is made available to individuals and businesses in a manner similar to the grant program under this section. DMA must process applications for grants and award to qualified individuals and businesses a grant within 14 days of the individual’s or business’s application for the grant. However, DMA is not required to make a grant if it does not have sufficient funds available to do so.

The bill allows DMA to request supplemental funding from the Joint Committee on Finance in any year in which DMA estimates or concludes that it needs additional funding in order to award grants relating to all eligible requests it receives.