A bill has been introduced that would provide assistance to those homeowners of residential buildings who have been affected by a crumbling concrete foundation.

SB-806, An Act Establishing the Crumbling Foundations Assistance Program and Assisting Homeowners with Crumbling Foundations, would aid in the repair or replacement of houses by offering $150,000 or 75 percent of the cost to remediate the issue.

The bill would seek to add a $12 surcharge on each homeowner’s insurance policy, renter’s insurance policy or a master policy. Lawmakers estimate that approximately $11.8 million worth of revenue would be generated and deposited into a newly created Crumbling Foundations Assistance Fund to assist with the remediation process. This fee is scheduled to sunset in 2025.

“As I’ve stated in the past, this is a tremendous step in the right direction, but we aren’t finished yet,” Rep. Tim Ackert (R-8) said in a statement. “We owe it to each of our residents who have seen their foundations fall apart to pass legislation that provides them with some assurance that they will be fixed. I will continue to work toward providing a workable and realistic resolution to this unfortunate issue.”

Though the defective foundations have so far been limited to the north central part of the state,  Rep. Tom Delnicki (R-14) called them a statewide issue.

“This is an issue that will affect not only banking, but real estate and the desirability of Connecticut as a state to move to,” Delnicki said in a statement. “It is imperative that we get something passed to begin the process of addressing people that are victims of the crumbling foundations problem.”

SB-806 has been referred to the Finance, Revenue and Bonding Committee for further action. The committee is currently scheduled to meet tomorrow morning to discuss the bill.