NFIP Underwater Properties Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Sep 23, 2021)
NFIP Underwater Properties Act
This bill requires that the premium rate for flood insurance provided through the National Flood Insurance Program (NFIP) for structures that have incurred repetitive flood-related damage 1) be based on sound actuarial principles, and 2) not be subject to any rate caps if the structure is located in a special flood hazard area. Under current law, certain types of property are not charged actuarial rates for NFIP coverage.
What just happenedSep 23, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Who’s behind it
- Introduced in SenateSep 23, 2021
- Sep 23, 2021IntroReferral
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Banking, Housing, and Urban Affairs Committee - Sep 23, 2021IntroReferral10000
Introduced in Senate