H.R. 7643 · 117th Congress
FAITH Act of 2022
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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.
D
CristSponsor3 cosponsors · 3 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Fueling Affordable Insurance for Today's Homeowners Act of 2022 or the FAITH Act of 2022
What it does: CRS summary · Introduced in House · May 3, 2022
Fueling Affordable Insurance for Today's Homeowners Act of 2022 or the FAITH Act of 2022
This bill establishes the Natural Disaster Risk Reinsurance Program within the Department of the Treasury. States may voluntarily participate in the program.
The program provides payments to states for damages from a natural disaster not covered by the National Flood Insurance Program for amounts in excess of trigger amounts. These trigger amounts are calculated by the National Academy of Sciences.
States must present a plan that ensures the coverage of losses by insurers not exceeding the trigger amount. States must also pledge to repay the full amount provided by the program within 10 years.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: FAITH Act of 2022
Also known as: Fueling Affordable Insurance for Today’s Homeowners Act of 2022
Latest action (May 3, 2022): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: May 3, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.