Homeowner's Wildfire Insurance Premium Assistance Voucher Pilot Program

(a) Establishment Not later than 180 days after the date of enactment of this Act, the United States Fire Administrator, in consultation with the Chief of the Forest Service and the Secretary of the Interior, shall establish a pilot program to provide means-tested voucher-based premium assistance for wildfire insurance to eligible households in the form of grants to States that would distribute vouchers to qualifying households. (b) Qualifying household defined For purposes of this section, a qualifying household means a household— (1) residing in a residential dwelling with an elevated wildfire risk, as determined by the State insurance commissioner using the National Risk Index of the Federal Emergency Management Agency or a State-approved risk index; (2) that has completed risk reduction investments toward an industry standard for fire safety under section 2(c)(2); and (3) with a household income equal to or less than 80 percent of the area median income, using the most recent census data, for the area in which the property is located. (c) Value of voucher The value of any voucher distributed under subsection (a) shall be determined by the State insurance commissioner. (d) Administrative costs The pilot program established under subsection (a) may use not more than 10 percent of the amounts made available for the program for administrative costs. (e) Reports Not later than 1 year after the date of enactment of this Act, and annually thereafter, the United States Fire Administrator, in coordination with the administering agencies of each State receiving a grant under the pilot program under subsection (a), shall submit to Congress a report on the results of the pilot program and an assessment of whether the pilot program has reduced the cost burden of insurance premiums and retained private insurers in State markets. (f) Sunset This section shall cease to have force or effect on the date that is five years after the date of establishment of the pilot program under subsection (a).