3.0.0 505 2017-12-13T21:39:19Z 2017-12-13T21:39:19Z Senate S S 2009-02-27 111 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2009-02-27T17:22:31Z 2009-02-27 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2009-02-27 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 2009-02-27 True L000550 Sen. Landrieu, Mary L. [D-LA] MARY LANDRIEU D LA 2009-02-27 True Finance and Financial Sector Disaster relief and insurance Housing finance and home ownership Insurance industry and regulation Securities State and local finance Finance and Financial Sector 00 2009-02-27 Introduced in Senate 2009-09-11T21:40:22Z 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 and state residual insurance market entities; (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) use a database to perform research and analysis that encourages standardization of the risk-linked securities market.

Instructs the Secretary of the Treasury to implement a national homeowners' insurance stabilization program to make liquidity loans and catastrophic loans to qualified reinsurance programs to: (1) ensure their solvency; (2) improve the availability and affordability of homeowners' insurance; (3) provide incentive for risk transfer to the private capital and reinsurance markets; and (4) spread the risk of catastrophic financial loss resulting from natural disasters and catastrophic events.

Authorizes the Secretary to establish and collect, from qualified and precertified reinsurance programs, a reasonable fee to offset expenses of the program.

Instructs the Secretary to require full repayment of all loans made under this Act.

]]> Homeowners' Defense Act of 2009 Short Titles as Introduced Homeowners' Defense Act of 2009 Display Title Homeowners' Defense Act of 2009 Official Title as Introduced A bill to establish a National Catastrophe Risks Consortium and a National Homeowner's Insurance Stabilization Program, and for the other purposes. Introduced in Senate 2009-02-27T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111s505is/xml/BILLS-111s505is.xml 2009-02-27 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.