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S 1679 114th Congress Senate Finance and Financial Sector American Samoa Caribbean area Disaster relief and insurance Floods and storm protection Housing finance and home ownership Northern Mariana Islands Puerto Rico Virgin Islands

Flood Insurance Market Parity and Modernization Act

Introduced: June 25, 2015 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 13, 2016
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 114-451.
Jun 30, 2016
Committee on Small Business and Entrepreneurship. Hearings held.
Jun 25, 2015
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jun 25, 2015
Introduced in Senate
 Plain-English summary Congressional Research Service

Flood Insurance Market Parity and Modernization Act

This bill amends the Flood Disaster Protection Act of 1973 to make technical amendments to requirements for flood insurance under either the federal program or private flood insurance.

"Private flood insurance" shall include any policy issued by an insurance company eligible as a nonadmitted insurer to provide flood insurance in the state or jurisdiction where the property to be insured is located.

The flood insurance program under the Act, including both private and federal flood insurance, shall extend to Puerto Rico, Guam, the Northern Mariana Islands, the Virgin Islands, and American Samoa.

The National Flood Insurance Act of 1968 is amended to direct the Federal Emergency Management Agency to consider any period during which a property was continuously covered by private flood insurance to be a period of continuous insurance coverage.

What's happening now September 13, 2016

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 114-451.

 Committees of jurisdiction 2
 Cosponsors 4
All 4 Republican 4