Bill113th Congress

H.R. 960

Flood Victim Premium Relief Act of 2013

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Introduced
Mar 5, 2013
Origin Chamber
House
Policy Area
Emergency Management
Latest Action
Mar 5, 2013

Sponsor

Rep. Grimm, Michael G. [R-NY-11]

Republican·NY-11
Bioguide ID: G000569
First Name: Michael
Middle Name: G.
Last Name: Grimm
By Request: N
16
Cosponsors
1
Committees
3
Actions
0
Amendments
0
Related Bills
2
Subjects
1
Summaries
3
Titles
1
Text Versions

Bill Details

Update Date
Nov 15, 2019
Origin Chamber
House
Bill Type
HR
Bill Number
960
Congress
113
Introduced Date
Mar 5, 2013
Policy Area
Emergency Management
Is Law
No
Mar 5, 2013IntroReferralH11100

Referred to the House Committee on Financial Services.

Source: House floor actions

Mar 5, 2013IntroReferralIntro-H

Introduced in House

Source: Library of Congress

Mar 5, 2013IntroReferral1000

Introduced in House

Source: Library of Congress

Introduced in House· Mar 5, 20130

Flood Victim Premium Relief Act of 2013 - Amends the National Flood Insurance Act of 1968, with respect to adjustments to flood insurance premiums to reflect the current risk of flood, to limit premium rate increases on specified residential property in federally declared major disaster areas.

Requires premium rate increases or new premium rates on such properties which become effective after July 6, 2012, to be phased in over an 8-year period, at the rate of 5% for each of the first 4 years and 20% for each of the last 4s.

Defines such properties as those located within a major disaster area: (1) for which revised or updated flood insurance rate maps become effective during the 2-year period beginning upon the occurrence of the disaster; or (2) that upon enactment of this Act are eligible for preferred risk rate method premiums for flood insurance coverage, or that were eligible for them at any time during the 12-month period ending upon the occurrence of the disaster.

Requires such a property also to be: (1) owned by the same owner who owned the property at the time of the disaster; and (2) the owner's primary residence since the disaster (except for any periods of non-occupancy resulting from it).

Financial Services Committee

House· Standing
Disaster relief and insuranceFloods and storm protection

Introduced in House

Mar 5, 2013

Flood Victim Premium Relief Act of 2013 — Informed