H.R. 4313 · 113th Congress
Flood Insurance Premium Parity Act of 2014
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
JollySponsor4 cosponsors · 3 D, 1 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Flood Insurance Premium Parity Act of 2014 - Amends the National Flood Insurance Act of 1968 (NFIA) to prohibit the Administrator of the Federal Emergency Management Administration (FEMA) from estimating reduced (subsidized) risk premium rates for flood insurance for residential property that is neither the primary residence of an individual (as under…
What it does: CRS summary · Introduced in House · Mar 26, 2014
Flood Insurance Premium Parity Act of 2014 - Amends the National Flood Insurance Act of 1968 (NFIA) to prohibit the Administrator of the Federal Emergency Management Administration (FEMA) from estimating reduced (subsidized) risk premium rates for flood insurance for residential property that is neither the primary residence of an individual (as under current law) nor the secondary residence of the property owner.
Directs FEMA to establish standards for a residential property to qualify as a secondary residence eligible for subsidized risk flood insurance premium rates that: (1) require the owner to occupy the property for an appropriate minimum period of time each year, and (2) limit subsidized risk premium rates to but a single property of the owner.
Repeals the prohibition against estimating subsidized risk premium rates for business property (thus qualifying business property for such rates).
Directs FEMA to refund directly to insureds any flood insurance premiums collected in excess of the rates required under this Act.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Flood Insurance Premium Parity Act of 2014
Latest action (Mar 26, 2014): Referred to the House Committee on Financial Services.
Policy area: Emergency Management · Origin: House · Introduced: Mar 26, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.