1. Short title; table of contents (a) Short title This Act may be cited as the Homeowners’ Defense Act of 2023 . (b) Table of contents The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. Sec. 2. Findings and purposes. Title I—National Catastrophe Risk Consortium Sec. 101. Establishment; chairperson; membership; bylaws. Sec. 102. Functions. Sec. 103. Authorization of appropriations. Title II—Catastrophe Obligation Guarantees Sec. 201. Purposes. Sec. 202. Establishment of debt guarantee program. Sec. 203. Effect of guarantee. Sec. 204. Full faith and credit. Sec. 205. Fees for guarantees; amount; collection. Sec. 206. Payment of losses. Sec. 207. Regulations. Title III—Reinsurance coverage for eligible State programs Sec. 301. Program authority. Sec. 302. Contract principles. Sec. 303. Terms of reinsurance contracts. Sec. 304. Maximum Federal liability. Sec. 305. Federal Natural Catastrophe Reinsurance Fund. Sec. 306. Consideration of rebuilding. Sec. 307. Regulations. Title IV—Mitigation grant program Sec. 401. Mitigation grant program. Title V—General provisions Sec. 501. Eligible State programs. Sec. 502. Study and conditional coverage of commercial residential lines of insurance. Sec. 503. Study of risk-based pricing and State program rates. Sec. 504. Definitions. Sec. 505. Regulations. 2. Findings and purposes (a) Findings The Congress finds that— (1) the United States has a history of catastrophic natural disasters, including hurricanes, tornadoes, flood, fire, earthquakes, and volcanic eruptions; (2) although catastrophic natural disasters occur infrequently, their costs are likely to escalate in the coming years, in part because of the intensifying impacts of climate change, coastal development patterns, and increasing property values along the hurricane-prone or earthquake-vulnerable coastlines of the United States; (3) such disasters present physical risk to assets, publicly traded securities, private investments, and companies