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Conference committee approves SB 10-44 with multimillion-dollar appropriations to stabilize property insurance
Summary
The Joint House and Senate Conference Committee passed SB 10-44 on April 25, 2025, approving amendments that include reimbursable general-obligation bond appropriations and transfers from the Hawaii Hurricane Relief Fund to support an insurance program and a condominium loan program.
The Joint House and Senate Conference Committee approved Senate Bill 10-44 (Senate Draft 2, House Draft 2) on April 25, 2025, in Conference Room 224 by a voice vote, adopting amendments that include multiple multimillion-dollar appropriations to support a property-insurance stabilization program.
Committee members passed amendments that, as described on the record, include a $30,000,000 reimbursable general-obligation bond appropriation to the Hawaii Hurricane Relief Fund (HHRF) to support a loan facilitated by the Department of Commerce and Consumer Affairs (DCCA) Insurance Division to the Hawaii Property Insurance Association (HPIA); a $20,000,000 reimbursable general-obligation bond appropriation to the Hawaii Green Infrastructure Authority (HGIA) to facilitate a condominium loan program; and a $5,000,000 transfer from the HHRF to HGIA…
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