S. 2833 · 117th Congress
NFIP Underwater Properties 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 structures that have incurred repetitive flood-related damage 1) be based on sound actuarial principles, and 2) not be subject to any rate caps if the structure is located in a special flood hazard area.
What it does: CRS summary · Introduced in Senate · Sep 23, 2021
NFIP Underwater Properties Act
This bill requires that the premium rate for flood insurance provided through the National Flood Insurance Program (NFIP) for structures that have incurred repetitive flood-related damage 1) be based on sound actuarial principles, and 2) not be subject to any rate caps if the structure is located in a special flood hazard area. 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: NFIP Underwater Properties 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.