3.0.0 928 2023-01-11T19:45:42Z 2023-01-11T19:45:42Z Senate S S 2007-03-20 110 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2007-03-20T19:44:57Z 2007-03-20 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S3364-3368) IntroReferral 2007-03-20 Sponsor introductory remarks on measure. (CR S3360-3362) IntroReferral B00100 9 Library of Congress 2007-03-20 Introduced in Senate IntroReferral 10000 9 Library of Congress N000032 Sen. Nelson, Bill [D-FL] CLARENCE NELSON D FL WILLIAM N M001162 Sen. Martinez, Mel [R-FL] Mel Martinez R FL 2007-03-20 True Finance and Financial Sector Administrative procedure Building construction Building laws Building materials Casualty insurance Coinsurance Commerce Congress Congressional investigations Congressional reporting requirements Department of the Treasury Disaster insurance Earthquakes Economics and Public Finance Emergency Management Federal advisory bodies Fires Floods Government Operations and Politics Government publicity Government trust funds Governmental investigations Housing and Community Development Hurricanes Indexing (Economic policy) Insurance companies Insurance premiums Law Losses Property insurance Reinsurance Risk State laws Storms Tornadoes Tsunamis Volcanoes Finance and Financial Sector 00 2007-03-20 Introduced in Senate 2007-04-27T16:02:07Z Homeowners Protection Act of 2007 - Directs the Secretary of the Treasury to establish the National Commission on Catastrophe Preparation and Protection to advise the Secretary regarding: (1) estimated loss costs associated with the contracts for reinsurance coverage; and (2) development of prevention, mitigation, recovery, and rebuilding standards that better prepare and protect the United States from catastrophes.

Instructs the Secretary to implement a program designed to make homeowners protection coverage available through contracts for reinsurance.

Prescribes guidelines governing: (1) qualified lines of coverage; (2) covered perils; (3) contracts for reinsurance coverage for eligible state programs; and (4) minimum level of retained losses and maximum federal liability.

Establishes the Consumer HELP Fund for: (1) payments to covered purchasers under contracts for reinsurance coverage; and (2) operating and administrative costs.

]]> Homeowners Protection Act of 2007 Official Title as Introduced A bill to establish a program to provide more protection at lower cost through a national backstop for State natural catastrophe insurance programs to help the United States better prepare for and protect its citizens against the ravages of natural catastrophes, to encourage and promote mitigation and prevention for, and recovery and rebuilding from such catastrophes, to better assist in the financial recovery from such catastrophes, and to develop a rigorous process of continuous improvement. Introduced in Senate IS Display Title Homeowners Protection Act of 2007 Short Titles as Introduced Homeowners Protection Act of 2007 Introduced in Senate 2007-03-20T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s928is/xml/BILLS-110s928is.xml 2007-03-20 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S3364-3368) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.