Senators have new plan to help with crumbling foundations
HARTFORD, Conn. (AP) — Two Connecticut senators have plans to amend a bill awaiting Senate action with language to financially assist homeowners with foundations crumbling because of an iron sulfide.
East Hartford Sen. Tim Larson and Sprague Sen. Cathy Osten, both Democrats, proposed Monday a $10 fee on new and renewed mortgage loans and a $10 surcharge on new or renewed homeowners and rental insurance policies after July 1.
Their proposal also would require insurance companies to pay a $10 fee on new or renewed policies. All the funds would be deposited into the Crumbling Foundations Assistance Fund.
The amendment would also increase how long homeowners can sue an insurer for denying a claim, from two to four years.
Last week, the Judiciary Committee defeated another bill imposing a $20 surcharge on homeowner policies.