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HR 2632 117th Congress House Finance and Financial Sector Building construction Floods and storm protection Government Accountability Office (GAO) Government information and archives Government studies and investigations Life, casualty, property insurance

Build for Future Disasters Act of 2021

Introduced: April 16, 2021 Introduced by: Peters, Scott H. Democratic · California See on congress.gov
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 16, 2021
Referred to the House Committee on Financial Services.
Apr 16, 2021
Introduced in House
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 Plain-English summary Congressional Research Service

Build for Future Disasters Act of 2021

This bill eliminates certain National Flood Insurance Program (NFIP) rate subsidies for newly constructed property. Specifically, the chargeable rate for NFIP coverage of newly constructed property and any substantial improvements of property started on or after January 1, 2025, must not be not less than the estimated risk premium rate.

The Government Accountability Office must report on the feasibility and effects of (1) eliminating by January 1, 2027, all subsidies that reduce premiums for NFIP coverage to amounts below those necessary to operate to program without a deficit, and (2) prohibiting these subsidies unless flood mitigation activities have been completed on a property.

What's happening now April 16, 2021

Referred to the House Committee on Financial Services.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Barr, Andy
Kentucky · Apr 16, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2632: Build for Future Disasters Act of 2021. 117th Congress. Open America. https://openamerica.io/bill/117-HR-2632/
MLA
"H.R. 2632: Build for Future Disasters Act of 2021." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-2632/.
Bluebook (legal)
H.R. 2632, 117th Cong. (2026), https://openamerica.io/bill/117-HR-2632/.
Markdown link
[H.R. 2632: Build for Future Disasters Act of 2021](https://openamerica.io/bill/117-HR-2632/)
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