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HR 3312 113th Congress House Emergency Management Disaster relief and insurance Floods and storm protection

Homeowners Flood Insurance Relief Act of 2013

Introduced: October 23, 2013 Introduced by: Bilirakis, Gus M. Republican · Florida See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 23, 2013
Referred to the House Committee on Financial Services.
Oct 23, 2013
Sponsor introductory remarks on measure. (CR E1554-1555)
Oct 23, 2013
Introduced in House
 Plain-English summary Congressional Research Service

Homeowners Flood Insurance Relief Act of 2013 - Amends the National Flood Insurance Act of 1968 to direct the Administrator of the Federal Emergency Management Agency (FEMA) to provide certain policy holders the option of paying their premiums monthly (or annually or in more frequent installments, as under current law).

Declares the maximum annual chargeable premium rate for a property to be the total appraised value of all structures located on it at the time of its purchase by the current owner of the property divided by 30.

Sets forth a ten-year phase-in period for risk premium rate increases resulting from enactment of the Biggert-Waters Flood Insurance Reform Act of 2012, at the rate of 10% for each year following the effective date of such Act.

Directs FEMA to refund or provide credit to insureds for any flood insurance premiums collected in excess of the mandatory phase-in of rates prescribed by this Act.


What's happening now October 23, 2013

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1