08 Oct Legislation Addresses Crumbling Home Foundations in Connecticut
October 1, 2019
Source: Connecticut General Assembly
PA 19-192–sHB 7179
AN ACT CONCERNING CRUMBLING CONCRETE FOUNDATIONS.
To (1) require the Commissioner of Housing to establish a grant program to support the development of methods and technologies that reduce the average cost of repairing and replacing concrete foundations in this state that have deteriorated due to the presence of pyrrhotite, (2) establish an innovation board to review applications for grants filed as part of such program, (3) appropriate the sum of eight million dollars to fund grants awarded as part of such program, (4) modify the Healthy Homes Fund surcharge, and (5) redefine the term “residential building” as such term applies to various statutes concerning crumbling concrete foundations.
Similar Enacted Bills: Session Year 2019
AN ACT CONCERNING HOME INSPECTORS AND APPRAISERS.
To allow certified home inspectors to inspect certain building foundations and to require appraisal management companies to compensate appraisers fairly.
Signed by Governor: 7/9/19
Effective Date: 10/1/19
Similar Proposed Bills: Session Year 2019
AN ACT CONCERNING DEFICIENCY JUDGMENTS AND RESIDENTIAL PROPERTIES WITH A CONCRETE FOUNDATION AFFECTED BY PYRRHOTITE.
To (1) prohibit deficiency judgments on mortgage loans where the property secured by the mortgage has a crumbling concrete foundation, (2) prohibit mortgage lenders and mortgage correspondent lenders from denying an application for a residential mortgage loan based solely on certain prior defaults, conveyances or foreclosures by the applicant, and (3) prohibit mortgage lenders and mortgage correspondent lenders from reporting to credit rating agencies that mortgage loans secured by property with a crumbling concrete foundation are subject to a deficiency judgment.
AN ACT PROHIBITING THE LENDER OF A HOME EQUITY LOAN FROM SEEKING A DEFICIENCY JUDGMENT AGAINST CERTAIN BORROWERS.
To protect homeowners with crumbling foundations from a deficiency judgment on a home equity loan.
AN ACT CONCERNING THE FORECLOSURE MEDIATION PROGRAM.
To protect a homeowner who is subject to foreclosure as the result of owning a home with a crumbling foundation.
AN ACT CONCERNING THE REASSESSED VALUE OF A RESIDENTIAL BUILDING WITH A FOUNDATION MADE WITH DEFECTIVE CONCRETE.
To allow an owner to request and require a municipality to apply retroactively the reassessed value of a residential building with a foundation made with defective concrete to the date such owner purchased or received such building.
AN ACT ESTABLISHING A COLLAPSING FOUNDATIONS LOAN PROGRAM TO PROVIDE LOW-INTEREST LOANS TO CERTAIN PROPERTY OWNERS.
To provide low-interest loans to property owners who (1) have received the maximum amount of financial assistance provided by the captive insurance company for the purpose of repairing or replacing a concrete foundation that has deteriorated due to the presence of pyrrhotite, and (2) require additional funding for such repair or replacement.
AN ACT REQUIRING THE INSPECTION OF CERTAIN RESIDENTIAL BUILDINGS BY A HOME INSPECTOR AND AN ENGINEER PRIOR TO THE TRANSFER OF TITLE.
To require owners of certain residential buildings to retain a home inspector and an engineer to prepare inspection reports concerning such buildings prior to transferring title to such buildings.
AN ACT CONCERNING THE REASSESSMENT OF RESIDENTIAL BUILDINGS MADE WITH DEFECTIVE CONCRETE.
To increase the number of assessment years for which a reassessment of the value of a residential building made with defective concrete shall be applicable.
AN ACT REQUIRING SELLERS OF RESIDENTIAL PROPERTY TO DISCLOSE THE PRESENCE OF PYRRHOTITE IN RESIDENTIAL CONDITION REPORTS.
To require persons selling residential property in this state to disclose the presence of pyrrhotite.
AN ACT EXPANDING THE DEFINITION OF “RESIDENTIAL BUILDING” IN STATUTES PROVIDING ASSISTANCE TO CERTAIN HOMEOWNERS.
To revise the definition of “residential building” to include any condominium unit or dwelling in a planned unit development.
AN ACT CONCERNING THE RESIDENTIAL DISCLOSURE REPORT AND CRUMBLING CONCRETE FOUNDATIONS.
To require a seller to disclose to a purchaser in the “Residential Condition Report” any facts that are within the seller’s actual knowledge concerning (1) the presence of pyrrhotite in the concrete foundations located on the seller’s property, (2) any testing or inspection done by a licensed professional to determine whether such foundations contain pyrrhotite, (3) any foundation deterioration, problems or settling caused by the presence of pyrrhotite in such foundations, and (4) any repairs to remedy such deterioration, problems or settling.