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S. 2832 117th Congress Senate

No NFIP Subsidies for Millionaires Act

Official title: A bill to prohibit the National Flood Insurance Program from providing flood insurance subsidies for single-family residences that are valued at more than $1,000,000, and for other purposes.

Introduced: September 23, 2021 Introduced by: Mike Lee Republican · Utah See on congress.gov
Finance and Financial Sector
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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
Sep 23, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sep 23, 2021
Introduced in Senate
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 Latest action September 23, 2021

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Plain-English summary Congressional Research Service

No NFIP Subsidies for Millionaires Act

This bill requires that the premium rate for flood insurance provided through the National Flood Insurance Program (NFIP) for single-family homes valued at more than $1 million be based on sound actuarial principles and not be subject to any rate caps. Under current law, certain types of property are not charged actuarial rates for NFIP coverage.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Scott, Rick
Florida · Sep 23, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2832: No NFIP Subsidies for Millionaires Act. 117th Congress. Open America. https://openamerica.io/bill/117-S-2832/
MLA
"S. 2832: No NFIP Subsidies for Millionaires Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-2832/.
Bluebook (legal)
S. 2832, 117th Cong. (2026), https://openamerica.io/bill/117-S-2832/.
Markdown link
[S. 2832: No NFIP Subsidies for Millionaires Act](https://openamerica.io/bill/117-S-2832/)
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