Flood Insurance Fairness Act of 2015
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jun 25, 2015)
Flood Insurance Fairness Act of 2015
Amends the National Flood Insurance Act of 1968 to repeal provisions that prohibit the Federal Emergency Management Agency (FEMA) from estimating subsidized risk premium rates for flood insurance coverage on: (1) residential property which is not the primary residence of an individual, and (2) any business property. Qualifies those properties for such rates.
Requires FEMA, when developing guidance and rate tables necessary to implement this Act, to consult with Write Your Own companies, which are participating property and casualty insurance companies that write and service standard flood insurance policies in cooperation with FEMA.
Directs Write Your Own companies to implement the changes required by the final guidance and rate tables within six to eight months after their issuance.
What just happenedJun 25, 2015
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseJun 25, 2015
- Jun 25, 2015IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Jun 25, 2015IntroReferralIntro-H
Introduced in House
- Jun 25, 2015IntroReferral1000
Introduced in House