H.R. 7364 · 117th Congress
Stop Flood Insurance Rate Hikes Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GravesSponsor5 cosponsors · 3 D, 2 R
5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill allows National Flood Insurance Program policyholders to elect to pay premiums at the rate in effect prior to the implementation of Risk Rating 2.0 and to receive refunds for previously paid premiums.
What it does: CRS summary · Introduced in House · Apr 1, 2022
Stop Flood Insurance Rate Hikes Act
This bill allows National Flood Insurance Program policyholders to elect to pay premiums at the rate in effect prior to the implementation of Risk Rating 2.0 and to receive refunds for previously paid premiums. Risk Rating 2.0 bases premium rates on an individual property's specific flood risk instead of the flood risk of a general location and property type.
Policyholders may elect to pay the previous rate until the Federal Emergency Management Agency performs several actions regarding Risk Rating 2.0, including
- publishing all data and methods used to calculate premium rates under Risk Rating 2.0,
- creating an online database where policyholders can see premium rates for their property using specified calculations, and
- publishing an assessment of the economic, social, and environmental impacts of Risk Rating 2.0.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Stop Flood Insurance Rate Hikes Act
Latest action (Apr 1, 2022): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Apr 1, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.