S 2833
117th Congress
Senate
Finance and Financial Sector
NFIP Underwater Properties Act
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
Plain-English summary
NFIP Underwater Properties Act
This bill requires that the premium rate for flood insurance provided through the National Flood Insurance Program (NFIP) for structures that have incurred repetitive flood-related damage 1) be based on sound actuarial principles, and 2) not be subject to any rate caps if the structure is located in a special flood hazard area. Under current law, certain types of property are not charged actuarial rates for NFIP coverage.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1
Cosponsors
1