S. 2832 · 117th Congress
No NFIP Subsidies for Millionaires 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
LeeSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill requires that the premium rate for flood insurance provided through the National Flood Insurance Program (NFIP) for single-family homes valued at more than $1 million be based on sound actuarial principles and not be subject to any rate caps. Under current law, certain types of property are not charged actuarial rates for NFIP coverage.
What it does: CRS summary · Introduced in Senate · Sep 23, 2021
No NFIP Subsidies for Millionaires Act
This bill requires that the premium rate for flood insurance provided through the National Flood Insurance Program (NFIP) for single-family homes valued at more than $1 million be based on sound actuarial principles and not be subject to any rate caps. Under current law, certain types of property are not charged actuarial rates for NFIP coverage.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: No NFIP Subsidies for Millionaires Act
Latest action (Sep 23, 2021): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Sep 23, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.