H.R. 5973 · 115th Congress
Disaster Assistance Risk Transfer Act of 2018
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RossSponsorNo cosponsors.
This bill amends the Robert T. Stafford Disaster Relief and Emergency Assistance Act to direct the Federal Emergency Management Agency (FEMA) to solicit proposals and authorize it to secure contracts from private entities providing insurance, reinsurance, or capital market investments to transfer a portion of the risk of disaster assistance.
What it does: CRS summary · Introduced in House · May 25, 2018
Disaster Assistance Risk Transfer Act of 2018
This bill amends the Robert T. Stafford Disaster Relief and Emergency Assistance Act to direct the Federal Emergency Management Agency (FEMA) to solicit proposals and authorize it to secure contracts from private entities providing insurance, reinsurance, or capital market investments to transfer a portion of the risk of disaster assistance.
FEMA shall deposit any funds collected as the result of transfer of risk arrangements into the Disaster Relief Fund and such funds shall be available for any purpose for which such fund may be used.
FEMA may annually transfer a portion of the risk of the payments that may be made to private insurance, reinsurance, or the capital markets if it determines that transferring such a portion is in the public interest.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Disaster Assistance Risk Transfer Act of 2018
Latest action (May 29, 2018): Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
Policy area: Emergency Management · Origin: House · Introduced: May 25, 2018
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.