Mississippi Windstorm Mitigation Association; establish under Commissioner of Insurance.
SB 2405 creates the “Make Mississippi Resilient and Strong Act” and establishes the Mississippi Windstorm Mitigation Association as a nonprofit entity under the supervision of the Mississippi Insurance Commissioner. The association would be composed of all property insurers authorized to do business in Mississippi and would be governed by a board of directors selected by member insurers, subject to commissioner approval. Its core purpose is to promote economic development and public welfare by helping owners of qualifying residential and commercial property retrofit buildings to better withstand hurricanes, tornadoes, and other catastrophic windstorm events.
The bill authorizes the association to award grants for mitigation work, with grants capped at $15,000 per property. To qualify, property must be retrofitted to approved mitigation standards, including standards tied to the Insurance Institute for Business and Home Safety or other approved techniques recommended by the Mississippi Windstorm Mitigation Coordinating Council and approved by the association and commissioner. The bill also sets out application procedures, reporting requirements, board governance, assessment authority, tax offsets for insurers, and commissioner oversight, and it becomes effective July 1, 2025.
The bill would add a new statutory framework in Mississippi insurance law for a windstorm mitigation grant program funded by assessments on member insurers. It requires all authorized property insurers to participate, allows annual assessments up to $10 million, permits insurers to offset a portion of those assessments against premium, franchise, or income tax liability over five years, and provides certificates of contribution that may be treated as assets with commissioner approval. It also grants the association tax and fee exemptions, establishes enforcement tools for nonpayment, and gives the commissioner rulemaking, supervisory, and disciplinary authority over the association and participating insurers.
The available record shows no committee transcript, vote tally, or recorded floor debate, so there is no direct evidence of support or opposition from the legislative process in the materials provided. Based on the bill text alone, the proposal appears policy-driven and constructive, aiming to reduce storm damage and strengthen property resilience while spreading costs across the property insurance market. The overall framing is affirmative and programmatic rather than punitive or controversial.
The main likely points of contention are the mandatory participation of all property insurers, the annual assessment authority up to $10 million, and the extent to which those costs may be shifted through tax offsets or indirectly reflected in premiums. Insurers may also scrutinize the grant standards, the commissioner’s oversight role, and the liability immunity provisions for the association, board members, insurers, and the commissioner. Property owners may focus on eligibility limits, the exclusion of manufactured homes except in limited circumstances, and the requirement that retrofits meet approved mitigation standards before grant funds are paid.