§ 8590.17

(a) The CRMP shall develop and administer the program in accordance with this article.

(b) The program shall do all of the following:

(1) Encourage cost-effective seismic retrofitting for existing affordable multifamily housing in California.

(2) Provide financial assistance to owners of multifamily housing that have been determined to be at risk of collapse in earthquakes for seismic retrofitting to protect individuals living in multifamily housing.

(3) Prioritize financial assistance to benefit communities with high social vulnerability.

(4) Prioritize financial assistance to owners of multifamily housing in communities with high concentrations of soft story multifamily housing or in areas of high seismicity.

(c) The CRMP shall receive a reasonable amount not to exceed 10 percent of funding under this program to provide technical assistance to cities and local building departments to develop inventories and seismic retrofit programs for multifamily housing in high seismic areas.

(d) The CRMP shall receive reasonable funds, as required, to offset administrative, operational, information technology, and finance costs to administer the program and is prohibited from using funds from policyholders to offset any costs associated with this program.

(e) The CRMP may use up to 5 percent of funds appropriated pursuant to this article to provide technical assistance to municipalities for developing inventories of multifamily housing in high seismic areas to increase eligibility for participation in the program.

(Added by Stats. 2022, Ch. 48, Sec. 17. (SB 189) Effective June 30, 2022. Inoperative July 1, 2042, pursuant to Section 8590.21. Repealed as of January 1, 2043, pursuant to Section 8590.21.)