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HR 7643 117th Congress House Finance and Financial Sector

FAITH Act of 2022

Introduced: August 19, 2022 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
May 3, 2022
Referred to the House Committee on Financial Services.
May 3, 2022
Introduced in House
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 Plain-English summary Congressional Research Service

Fueling Affordable Insurance for Today's Homeowners Act of 2022 or the FAITH Act of 2022

This bill establishes the Natural Disaster Risk Reinsurance Program within the Department of the Treasury. States may voluntarily participate in the program.

The program provides payments to states for damages from a natural disaster not covered by the National Flood Insurance Program for amounts in excess of trigger amounts. These trigger amounts are calculated by the National Academy of Sciences.

States must present a plan that ensures the coverage of losses by insurers not exceeding the trigger amount. States must also pledge to repay the full amount provided by the program within 10 years.

What's happening now May 3, 2022

Referred to the House Committee on Financial Services.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 1
Demings, Val
· Aug 19, 2022
Lawson, Al
· Aug 19, 2022
 D
Soto, Darren
Florida · Aug 19, 2022
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 7643: FAITH Act of 2022. 117th Congress. Open America. https://openamerica.io/bill/117-HR-7643/
MLA
"H.R. 7643: FAITH Act of 2022." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-7643/.
Bluebook (legal)
H.R. 7643, 117th Cong. (2026), https://openamerica.io/bill/117-HR-7643/.
Markdown link
[H.R. 7643: FAITH Act of 2022](https://openamerica.io/bill/117-HR-7643/)
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