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HR 219 105th Congress House

Homeowners' Insurance Availability Act of 1998

Official title: To establish a Federal program to provide reinsurance for State disaster insurance programs.

Introduced: April 24, 1997 See on congress.gov
Finance and Financial Sector CommerceCongressCongressional reporting requirementsDisaster insurance
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Earthquake insuranceEconomics and Public FinanceEmergency ManagementFederal advisory bodiesFire insuranceGovernment Operations and PoliticsGovernment liabilityGovernment trust fundsHousing and Community DevelopmentHurricanesInsurance companiesInsurance ratesLawProperty insuranceReinsurance
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 12 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 7, 1998
Placed on the Union Calendar, Calendar No. 389.
Aug 7, 1998
Reported (Amended) by the Committee on Banking and Financial Services. H. Rept. 105-687.
Jul 15, 1998
Committee Consideration and Mark-up Session Held.
Jul 15, 1998
Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 12.
Jun 25, 1998
Committee Consideration and Mark-up Session Held.
Apr 23, 1998
Committee Hearings Held.
Feb 4, 1998
Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 16 - 6.
Feb 4, 1998
Subcommittee Consideration and Mark-up Session Held.
Feb 14, 1997
Referred to the Subcommittee on Housing and Community Opportunity.
Jan 7, 1997
Referred to the House Committee on Banking and Financial Services.
Jan 7, 1997
Sponsor introductory remarks on measure. (CR E66-67)
Jan 7, 1997
Introduced in House
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 Latest action August 7, 1998

Placed on the Union Calendar, Calendar No. 389.

 Plain-English summary Congressional Research Service

Homeowners' Insurance Availability Act of 1997 - Directs the Secretary of the Treasury to carry out a program under this Act to make reinsurance coverage available to eligible State insurance programs. Requires that such program shall be designed to improve the availability of homeowners' insurance for the purpose of facilitating the pooling, and spreading the risk, of catastrophic financial losses from natural disasters and to improve the solvency of homeowners' insurance markets.

Directs the Secretary to offer reinsurance coverage through contracts with eligible purchasers which shall: (1) provide coverage based solely on insurance industry losses within the State of the eligible purchaser purchasing the contract; (2) not interfere in private markets; and (3) minimize the administrative costs of the Federal Government.

(Sec. 4) Makes the following entities qualified to purchase contracts for reinsurance coverage made available under this Act: (1) State insurance programs; and (2) State reinsurance programs.

(Sec. 5) Sets forth: (1) qualified lines of coverage; (2) covered perils; and (3) terms and conditions of the reinsurance contracts.

(Sec. 9) Establishes, within the Treasury, the Disaster Reinsurance Fund. Specifies: (1) the amounts with which the Fund shall be credited; and (2) the uses of the amounts in the Fund.

(Sec. 10) Directs the Secretary to establish the National Commission on Catastrophe Risks and Insurance Loss Costs. Requires the Commission to meet for the sole purpose of advising the Secretary regarding the estimated loss costs associated with the reinsurance contracts. Authorizes appropriations. Provides for an offset amount to be obtained from purchasers of reinsurance coverage and deposited in the Fund.

(Sec. 11) Mandates a specified report by the Secretary to the Congress.

 Bill text 2 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Democratic 3
D
Sherman, Brad
California · Apr 29, 1998
 D
Norton, Eleanor Holmes
District of Columbia · Apr 24, 1997
 D
Lofgren, Zoe
California · Feb 13, 1997
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 219: Homeowners' Insurance Availability Act of 1998. 105th Congress. Open America. https://openamerica.io/bill/105-HR-219/
MLA
"H.R. 219: Homeowners' Insurance Availability Act of 1998." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-HR-219/.
Bluebook (legal)
H.R. 219, 105th Cong. (2026), https://openamerica.io/bill/105-HR-219/.
Markdown link
[H.R. 219: Homeowners' Insurance Availability Act of 1998](https://openamerica.io/bill/105-HR-219/)
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