Fire Prevention and Investigation - As enacted, creates the rescue squad grant program to provide annual grants to rescue squads for the purchase of firefighting equipment and training; directs the commissioner of commerce and insurance to evaluate grant requests and select grant award recipients each year. - Amends TCA Title 68, Chapter 102.

HB 2531 establishes an annual grant program for rescue squads in Tennessee to purchase firefighting and rescue equipment (excluding vehicles). It directly affects municipal, county, or nonprofit rescue squads providing emergency response services. The bill requires the Commissioner of Commerce and Insurance to evaluate grant applications, select recipients annually, and disburse funds - ensuring equal funding across Tennessee's three grand divisions. Grants must cover equipment costs or federal grant matching requirements, with unspent funds carried forward to future years. The program is funded through annual state appropriations.