legislation: 113-hr-1485

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
113-hr-1485 113 hr 1485 To amend the National Flood Insurance Act of 1968 to modify the phase-in increases in flood insurance premium rates for certain properties, and for other purposes. Emergency Management 2013-04-11 2013-04-11 Referred to the House Committee on Financial Services. House Rep. LoBiondo, Frank A. [R-NJ-2] NJ R L000554 18 Amends the National Flood Insurance Act of 1968 to authorize the Administrator of the Federal Emergency Management Agency (FEMA) to provide flood insurance to certain prospective insureds at rates less than certain statutory estimates. Increases by 12.5% each year the chargeable risk premium rates for flood insurance for business property and for residential property which is not the primary residence of an individual until the average risk premium rate for such properties is equal to the average of the risk premium rates for specified other properties. Increases by 12.5% each year the chargeable risk premium rates for flood insurance for primary residences purchased after the enactment of the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters [enacted July 6, 2012]) as if such increase began on the date of such enactment, until the average risk premium rate for such primary residences is equal to the average of the risk premium rates for specified other properties. Requires the FEMA Administrator to adjust the chargeable risk premium rates for flood insurance, for properties subject to such 12.5% increase, as if the amendments made by this Act were enacted at the same time as Biggert-Waters. 2022-11-15T16:33:36Z  

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