Official Summary

Digest: The Act says that a portion of dividends paid by SAIF must be redirected into a fund for disaster preparedness. The Act creates a board to advise on how the fund is used. (Flesch Readability Score: 72.1). Provides that a percentage of dividends paid by the State Accident Insurance Fund Corporation are redirected to a fund for catastrophic disaster preparedness. Creates an advisory board to advise on expenditures from the fund and on other policy improvements. Directs the advisory board to make recommendations on or before February 1, 2027.