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H.R. 1422 115th Congress House

Private Flood Insurance Market Development Act of 2017

Official title: To amend the Flood Disaster Protection Act of 1973 to require that certain buildings and personal property be covered by flood insurance, and for other purposes.

Introduced: June 12, 2017 See on congress.gov
Finance and Financial Sector American SamoaCaribbean areaDisaster relief and insuranceFloods and storm protection
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Housing finance and home ownershipNorthern Mariana IslandsPuerto RicoVirgin Islands
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This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) 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 6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 14, 2017
Placed on the Union Calendar, Calendar No. 155.
Jul 14, 2017
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-220.
Jun 21, 2017
Ordered to be Reported (Amended) by the Yeas and Nays: 58 - 0.
Jun 21, 2017
Committee Consideration and Mark-up Session Held.
Mar 8, 2017
Referred to the House Committee on Financial Services.
Mar 8, 2017
Introduced in House
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 Latest action July 14, 2017

Placed on the Union Calendar, Calendar No. 155.

 Plain-English summary Congressional Research Service

Private Flood Insurance Market Development Act of 2017

This bill amends the Flood Disaster Protection Act of 1973 to revise requirements for federal and private flood insurance.

The bill revises the financial requirements that apply to flood insurance for home loans or loan guarantees by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and other federal mortgage entities. Private flood insurance must meet any financial strength requirements set forth by the Federal Housing Finance Agency.

Private flood insurance may include nonadmitted insurers (including surplus lines insurance) as long as the insurer is eligible to provide insurance in the home state of the insured and complies with the laws and regulations of that state.

The National Flood Insurance Act of 1968 is amended to direct the Federal Emergency Management Agency (FEMA) to consider any period during which a property was continuously covered by private flood insurance to be a period of continuous insurance coverage, including for the purposes of National Flood Insurance Program subsidies.

 Related & companion bills 3
  • S 563 Identical bill Flood Insurance Market Parity and Modernization Act
  • HR 3823 Disaster Tax Relief and Airport and Airway Extension Act of 2017
  • HR 2874 21st Century Flood Reform Act
 Bill text 2 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 12
All 12 Democratic 2 Republican 7
Renacci, James
· Jun 22, 2017
 R
Williams, Roger
Texas · Jun 13, 2017
 D
Himes, James A.
Connecticut · Jun 12, 2017
 R
Smith, Jason
Missouri · Jun 8, 2017
 R
Fitzpatrick, Brian K.
Pennsylvania · May 23, 2017
 R
Budd, Ted
North Carolina · May 22, 2017
 R
Bilirakis, Gus M.
Florida · May 18, 2017
 R
Diaz-Balart, Mario
Florida · May 17, 2017
Rooney, Thomas
· May 11, 2017
 R
Loudermilk, Barry
Georgia · Mar 16, 2017
Hollingsworth, Trey
· Mar 9, 2017
 D
Castor, Kathy
Florida · Mar 8, 2017
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1422: Private Flood Insurance Market Development Act of 2017. 115th Congress. Open America. https://openamerica.io/bill/115-HR-1422/
MLA
"H.R. 1422: Private Flood Insurance Market Development Act of 2017." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-HR-1422/.
Bluebook (legal)
H.R. 1422, 115th Cong. (2026), https://openamerica.io/bill/115-HR-1422/.
Markdown link
[H.R. 1422: Private Flood Insurance Market Development Act of 2017](https://openamerica.io/bill/115-HR-1422/)
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