3.0.0 2555 2023-01-11T13:19:09Z 2023-01-11T13:19:09Z House H HR 2009-05-21 111 hsba00 Financial Services Committee House Standing Reported by 2010-07-13T19:48:39Z Markup by 2010-04-27T14:07:25Z Referred to 2009-05-21T14:11:48Z H. Rept. 111-534 2010-07-13 Placed on the Union Calendar, Calendar No. 306. Calendars H12410 2 House floor actions U00306 2010-07-13 Reported (Amended) by the Committee on Financial Services. H. Rept. 111-534. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2010-07-13 Reported (Amended) by the Committee on Financial Services. H. Rept. 111-534. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2010-04-27 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 39 - 26. Committee 2010-04-27 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2009-05-21 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-05-21 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-05-21 Introduced in House IntroReferral 1000 9 Library of Congress K000366 Rep. Klein, Ron [D-FL-22] Ron Klein D FL 22 N F000339 Rep. Frank, Barney [D-MA-4] BARNEY FRANK D MA 4 2009-05-21 True G000556 Rep. Grayson, Alan [D-FL-8] Alan Grayson D FL 8 2009-05-21 True K000370 Rep. Kosmas, Suzanne M. [D-FL-24] Suzanne Kosmas D FL M. 24 2009-05-21 True L000557 Rep. Larson, John B. [D-CT-1] JOHN LARSON D CT B. 1 2009-05-21 True C000537 Rep. Clyburn, James E. [D-SC-6] JAMES CLYBURN D SC E. 6 2009-05-21 True C001038 Rep. Crowley, Joseph [D-NY-7] JOSEPH CROWLEY D NY 7 2009-05-21 True T000057 Rep. Tauscher, Ellen O. [D-CA-10] ELLEN TAUSCHER D CA O. 10 2009-05-21 True H001040 Rep. Hare, Phil [D-IL-17] Phil Hare D IL 17 2009-05-21 True M001148 Rep. Meek, Kendrick B. [D-FL-17] Kendrick Meek D FL B. 17 2009-05-21 True W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT 0 2009-05-21 True C001066 Rep. Castor, Kathy [D-FL-11] Kathy Castor D FL 11 2009-05-21 True W000314 Rep. Wexler, Robert [D-FL-19] ROBERT WEXLER D FL 19 2009-05-21 True D000210 Rep. Delahunt, Bill [D-MA-10] Bill Delahunt D MA 10 2009-05-21 True K000113 Rep. Kennedy, Patrick J. [D-RI-1] PATRICK KENNEDY D RI J. 1 2009-05-21 True B001247 Rep. Brown-Waite, Ginny [R-FL-5] Ginny Brown-Waite R FL 5 2009-05-21 True A000014 Rep. Abercrombie, Neil [D-HI-1] NEIL ABERCROMBIE D HI 1 2009-05-21 True P000599 Rep. Posey, Bill [R-FL-15] Bill Posey R FL 15 2009-05-21 True R000435 Rep. Ros-Lehtinen, Ileana [R-FL-18] ILEANA ROS-LEHTINEN R FL 18 2009-05-21 True B001260 Rep. Buchanan, Vern [R-FL-13] Vern Buchanan R FL 13 2009-05-21 True G000557 Rep. Griffith, Parker [D-AL-5] Parker Griffith D AL 5 2009-05-21 True M001161 Rep. Melancon, Charlie [D-LA-3] Charlie Melancon D LA 3 2009-05-21 True S001150 Rep. Schiff, Adam B. [D-CA-29] ADAM SCHIFF D CA B. 29 2009-05-21 True W000799 Rep. Walz, Timothy J. [D-MN-1] Timothy Walz D MN J. 1 2009-05-21 True B001231 Rep. Berkley, Shelley [D-NV-1] SHELLEY BERKLEY D NV 1 2009-05-21 True J000032 Rep. Jackson-Lee, Sheila [D-TX-18] SHEILA JACKSON-LEE D TX 18 2009-05-21 True H000324 Rep. Hastings, Alcee L. [D-FL-23] ALCEE HASTINGS D FL L. 23 2009-05-21 True B001259 Rep. Braley, Bruce L. [D-IA-1] Bruce Braley D IA L. 1 2009-05-21 True B000716 Rep. Boyd, Allen [D-FL-2] ALLEN BOYD D FL JR. 2 2009-05-21 True R000577 Rep. Ryan, Tim [D-OH-17] TIM RYAN D OH 17 2009-05-21 True W000797 Rep. Wasserman Schultz, Debbie [D-FL-20] Debbie Wasserman Schultz D FL 20 2009-05-21 True B000410 Rep. Berman, Howard L. [D-CA-28] HOWARD BERMAN D CA L. 28 2009-05-21 True C001045 Rep. Crenshaw, Ander [R-FL-4] ANDER CRENSHAW R FL 4 2009-05-21 True I000026 Rep. Inslee, Jay [D-WA-1] JAY INSLEE D WA 1 2009-05-21 True K000365 Rep. Kagen, Steve [D-WI-8] Steve Kagen D WI 8 2009-05-21 True M001166 Rep. McNerney, Jerry [D-CA-11] Jerry McNerney D CA 11 2009-05-21 True P000593 Rep. Perlmutter, Ed [D-CO-7] Ed Perlmutter D CO 7 2009-05-21 True B000911 Rep. Brown, Corrine [D-FL-3] CORRINE BROWN D FL 3 2009-05-21 True H000213 Rep. Harman, Jane [D-CA-36] JANE HARMAN D CA 36 2009-05-21 True D000299 Rep. Diaz-Balart, Lincoln [R-FL-21] LINCOLN DIAZ-BALART R FL 21 2009-05-21 True A000022 Rep. Ackerman, Gary L. [D-NY-5] GARY ACKERMAN D NY L. 5 2009-05-21 True Y000062 Rep. Yarmuth, John A. [D-KY-3] John Yarmuth D KY A. 3 2009-05-21 True R000583 Rep. Rooney, Thomas J. [R-FL-16] Thomas Rooney R FL J. 16 2009-05-21 True D000607 Rep. Donnelly, Joe [D-IN-2] Joe Donnelly D IN 2 2009-05-21 True J000288 Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4] Henry Johnson D GA C. "Hank" 4 2009-06-02 False C001037 Rep. Capuano, Michael E. [D-MA-8] MICHAEL CAPUANO D MA E. 8 2009-06-02 False E000288 Rep. Ellison, Keith [D-MN-5] Keith Ellison D MN 5 2009-06-02 False H001042 Rep. Hirono, Mazie K. [D-HI-2] Mazie Hirono D HI K. 2 2009-06-02 False M000933 Rep. Moran, James P. [D-VA-8] JAMES MORAN D VA P. 8 2009-06-02 False P000596 Resident Commissioner Pierluisi, Pedro R. [D-PR-At Large] Pedro Pierluisi D PR R. 0 2009-06-02 False D000600 Rep. Diaz-Balart, Mario [R-FL-25] Mario Diaz-Balart R FL 25 2009-06-02 False G000554 Rep. Giffords, Gabrielle [D-AZ-8] Gabrielle Giffords D AZ 8 2009-06-09 False H001030 Rep. Hill, Baron P. [D-IN-9] BARON HILL D IN P. 9 2009-06-09 False S001165 Rep. Sires, Albio [D-NJ-13] Albio Sires D NJ 13 2009-06-09 False C000714 Rep. Conyers, John, Jr. [D-MI-14] JOHN CONYERS D MI 14 2009-06-09 False C001068 Rep. Cohen, Steve [D-TN-9] Steve Cohen D TN 9 2009-06-09 False D000197 Rep. DeGette, Diana [D-CO-1] DIANA DEGETTE D CO 1 2009-06-09 False C001064 Rep. Campbell, John [R-CA-48] John Campbell R CA 48 2009-07-27 False M001140 Rep. Moore, Dennis [D-KS-3] DENNIS MOORE D KS 3 2009-07-27 False S001171 Rep. Shuler, Heath [D-NC-11] Heath Shuler D NC 11 2009-09-09 False 2010-07-01 W000738 Rep. Woolsey, Lynn C. [D-CA-6] LYNN WOOLSEY D CA 6 2009-09-09 False C001074 Rep. Childers, Travis [D-MS-1] Travis Childers D MS 1 2009-09-09 False S000030 Rep. Sanchez, Loretta [D-CA-47] LORETTA SANCHEZ D CA 47 2009-09-16 False P000149 Rep. Payne, Donald M. [D-NJ-10] DONALD PAYNE D NJ M. 10 2009-09-17 False A000210 Rep. Andrews, Robert E. [D-NJ-1] ROBERT ANDREWS D NJ E. 1 2009-09-22 False W000792 Rep. Weiner, Anthony D. [D-NY-9] ANTHONY WEINER D NY D. 9 2009-09-25 False J000283 Rep. Jackson, Jesse L., Jr. [D-IL-2] JESSE JACKSON D IL L. 2 2009-09-29 False C000984 Rep. Cummings, Elijah E. [D-MD-7] ELIJAH CUMMINGS D MD E. 7 2009-10-07 False C001049 Rep. Clay, Wm. Lacy [D-MO-1] WM. CLAY D MO LACY 1 2009-12-01 False M001137 Rep. Meeks, Gregory W. [D-NY-6] GREGORY MEEKS D NY W. 6 2010-01-13 False C001059 Rep. Costa, Jim [D-CA-20] Jim Costa D CA 20 2010-01-20 False B001234 Rep. Baca, Joe [D-CA-43] JOE BACA D CA 43 2010-03-02 False M001144 Rep. Miller, Jeff [R-FL-1] Jeff Miller R FL 1 2010-03-09 False Y000031 Rep. Young, C. W. Bill [R-FL-10] C. W. Young R FL Bill 10 2010-03-09 False D000096 Rep. Davis, Danny K. [D-IL-7] DANNY DAVIS D IL K. 7 2010-04-13 False F000116 Rep. Filner, Bob [D-CA-51] BOB FILNER D CA 51 2010-04-28 False M000689 Rep. Mica, John L. [R-FL-7] JOHN MICA R FL L. 7 2010-04-28 False D000610 Rep. Deutch, Theodore E. [D-FL-19] Theodore Deutch D FL E. 19 2010-04-28 False B000490 Rep. Bishop, Sanford D., Jr. [D-GA-2] SANFORD BISHOP D GA D. 2 2010-05-13 False R000581 Rep. Richardson, Laura [D-CA-37] Laura Richardson D CA 37 2010-05-13 False E000215 Rep. Eshoo, Anna G. [D-CA-14] ANNA ESHOO D CA G. 14 2010-05-26 False 2010-06-02T04:00:00Z H.R. 2555, Homeowners' Defense Act of 2010 http://www.cbo.gov/publication/21515 <p>Cost estimate for the bill as ordered reported by the House Committee on Financial Services on April 27, 2010</p> 2010-06-02T04:00:00Z H.R. 2555, Homeowners' Defense Act of 2010 https://www.cbo.gov/publication/21515 Cost estimate for the bill as ordered reported by the House Committee on Financial Services on April 27, 2010 Finance and Financial Sector Disaster relief and insurance Government corporations and government-sponsored enterprises Government lending and loan guarantees Government studies and investigations Government trust funds Housing finance and home ownership Intergovernmental relations Land use and conservation Life, casualty, property insurance Natural disasters State and local finance State and local government operations User charges and fees Finance and Financial Sector 00 2009-05-21 Introduced in House 2009-09-11T21:43:43Z Homeowners' Defense Act of 2009 - Establishes the National Catastrophe Risk Consortium as a nonprofit, nonfederal entity to: (1) maintain an inventory of catastrophe risk obligations held by state reinsurance funds, state residual insurance market entities, and state-sponsored providers of natural catastrophe insurance; (2) issue, on a conduit basis, securities and other financial instruments linked to catastrophe risks insured or reinsured through Consortium members; (3) coordinate reinsurance contracts; (4) act as a centralized repository of state risk information accessible by certain private-market participants; and (5) establish a database to perform research and analysis that encourages standardization of the risk-linked securities market.

Authorizes the Secretary of the Treasury to guarantee holders of debt against loss of principal or interest, or both, on any such debt issued by eligible state programs for purposes of promoting the availability of private capital to provide liquidity and capacity to state catastrophe insurance programs and expediting the payment of claims under such programs and better assist the financial recovery from significant natural catastrophes. Provides separate limits on the total principal amount of such obligations for programs that cover earthquake peril and those that cover all other perils.

Directs the Secretary to make contracts for reinsurance coverage available for purchase by eligible state programs. Provides pricing guidelines and a limit on aggregate potential federal liability.

Establishes a Federal Natural Catastrophe Reinsurance Fund in the Treasury to be funded by amounts received from the sale of reinsurance coverage contracts, amounts appropriated for liability for claims payment, and earnings on investments.

Directs the Secretary of Housing and Urban Development (HUD) to establish and carry out a program of grants to eligible entities to develop, enhance, or maintain programs to prevent and mitigate losses from natural catastrophes.

Requires a study of the need for and impact of expanding the programs established by this Act to apply to insured losses of eligible state programs for losses arising from commercial insurance policies that provide coverage for properties composed predominantly of residential rental units.

]]> 17 2010-07-13 Reported to House with amendment(s) 2010-09-02T16:19:39Z Homeowners' Defense Act of 2010 - Title I: National Catastrophe Risk Consortium - (Sec. 101) Establishes the National Catastrophe Risk Consortium as a nonprofit, nonfederal entity to: (1) maintain an inventory of catastrophe risk obligations held by state reinsurance funds, state residual insurance market entities, and state-sponsored providers of natural catastrophe insurance; (2) issue, on a conduit basis, securities and other financial instruments linked to catastrophe risks insured or reinsured through Consortium members; (3) coordinate reinsurance contracts; (4) act as a centralized repository of state risk information accessible by certain private-market participants; and (5) establish a database to perform research and analysis that encourages standardization of the risk-linked securities market.

(Sec. 104) Prohibits the Consortium from: (1) engaging in federal election and lobbying activities; (2) making any contribution to a candidate for election for any state or local office or to any group that receives contributions or makes expenditures for the purpose of influencing any election; (3) employing or retaining any person who engages in influencing any such election or the legislating of any state or local legislative body; or (4) providing any thing of value, other than educational materials or information, to any elected official of a governmental entity.

(Sec. 107) Shields the federal government and the Consortium from liability for Consortium actions. Declares that participating states retain all catastrophe risk until the Consortium: (1) issues securities and other financial instruments linked to the catastrophe risks insured or reinsured through members of the Consortium in the capital markets; and (2) coordinates reinsurance contracts between participating, qualified reinsurance funds and private parties.

(Sec. 108) Authorizes appropriations for FY2010-FY2014.

Title II: Catastrophe Obligation Guarantees - (Sec. 202) Authorizes the Secretary of the Treasury to guarantee holders of debt against loss of principal or interest, or both, on debt issued by eligible state programs that: (1) promote the availability of private capital to provide liquidity and capacity to state catastrophe insurance programs; (2) expedite claims payments; and (3) assist financial recovery from significant natural catastrophes.

Provides separate limits on the total principal amount of such obligations for programs that cover earthquake peril and those that cover all other perils.

Subjects the catastrophic debt guarantee to specified requirements.

(Sec. 204) Pledges the full faith and credit of the United States to the payment of all guarantees with respect to principal and interest.

(Sec. 205) Directs the Secretary to charge and collect fees for such guarantees.

Title III: Reinsurance Coverage for Eligible State Programs - (Sec. 301) Directs the Secretary to make contracts for reinsurance coverage available for purchases only by eligible state programs.

(Sec. 302) Sets pricing guidelines and limits aggregate potential federal liability.

(Sec. 305) Establishes a Federal Natural Catastrophe Reinsurance Fund to be funded by: (1) sales of reinsurance coverage contracts; (2) amounts appropriated for liability for claims payment; and (3) earnings on investments.

Title IV: Mitigation Grant Program - (Sec. 401) Directs the Secretary of Housing and Urban Development (HUD) to establish and implement a program of grants to eligible entities to develop, enhance, or maintain programs to prevent and mitigate losses from natural catastrophes. Includes among such eligible entities a nationally recognized, congressionally chartered disaster response non-profit organization.

Requires the Secretary of HUD to use for such grants at least 35% of the net investment income from the Federal Natural Catastrophe Reinsurance Fund earned in each fiscal year.

Title V: General Provisions - (Sec. 501) Prescribes grant criteria for eligible state programs.

Prohibits this Act from being construed to limit or prevent any eligible state program from obtaining reinsurance coverage for insured losses retained by insurers.

(Sec. 502) Directs the Secretary to study the need for and impact of expanding the programs established by this Act to apply to insured losses of eligible state programs for losses arising from commercial insurance policies that provide coverage for properties composed predominantly of residential rental units.

(Sec. 503) Directs the Comptroller General to study and report to Congress on: (1) risk-based rate pricing, to determine the use of actuarially sound pricing for state insurance, reinsurance, or residual market programs (including what measures states are taking to implement actuarially sound rates); and (2) rates for state insurance, reinsurance, or residual market programs that fail to cover the expected value of all future costs, including the cost of capital, associated with insurance policies or reinsurance contracts written by such programs, or that fail to have sufficient assets above their indebtedness to meet their obligations.

]]> Homeowners' Defense Act of 2010 Display Title Homeowners' Defense Act of 2010 Official Title as Introduced To ensure the availability and affordability of homeowners' insurance coverage for catastrophic events. Introduced in House IH Short Titles as Reported to House Homeowners' Defense Act of 2010 H House Reported in House 2010-07-13T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr2555rh/xml/BILLS-111hr2555rh.xml Introduced in House 2009-05-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr2555ih/xml/BILLS-111hr2555ih.xml 2010-07-13 Placed on the Union Calendar, Calendar No. 306. 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.