Flood Insurance Market Parity and Modernization Act

3.0.0 1422 2023-01-11T13:35:42Z 2023-01-11T13:35:42Z House HR 2017-03-08 115 [Congressional Record Volume 163, Number 40 (Wednesday, March 8, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. ROSS:H.R. 1422.Congress has the power to enact this legislation pursuantto the following:Article I, section 8, clause 1; and Article I, section 8,clause 3[Page H1948]]]> hsba00 Financial Services Committee House Standing Reported by 2017-07-14T16:26:45Z Markup by 2017-06-21T19:32:44Z Referred to 2017-03-08T15:00:23Z H. Rept. 115-220 Flood Insurance Market Parity and Modernization Act 115 563 S 2017-05-04 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-16. Identical bill CRS Disaster Tax Relief and Airport and Airway Extension Act of 2017 115 3823 HR 2017-09-29 Signed by President. Related bill CRS 21st Century Flood Reform Act 115 2874 HR 2017-11-15 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS 2017-07-14 Placed on the Union Calendar, Calendar No. 155. Calendars H12410 2 House floor actions U00155 2017-07-14 Reported (Amended) by the Committee on Financial Services. H. Rept. 115-220. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2017-07-14 Reported (Amended) by the Committee on Financial Services. H. Rept. 115-220. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2017-06-21 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 58 - 0. Committee 2017-06-21 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2017-03-08 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2017-03-08 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-03-08 Introduced in House IntroReferral 1000 9 Library of Congress R000593 Rep. Ross, Dennis A. [R-FL-15] Dennis Ross R FL A. 15 N C001066 Rep. Castor, Kathy [D-FL-14] Kathy Castor D FL 14 2017-03-08 True H001074 Rep. Hollingsworth, Trey [R-IN-9] Trey Hollingsworth R IN 9 2017-03-09 False M001195 Rep. Mooney, Alexander X. [R-WV-2] Alexander Mooney R WV X. 2 2017-03-09 False P000599 Rep. Posey, Bill [R-FL-8] Bill Posey R FL 8 2017-03-09 False L000583 Rep. Loudermilk, Barry [R-GA-11] Barry Loudermilk R GA 11 2017-03-16 False P000601 Rep. Palazzo, Steven M. [R-MS-4] Steven Palazzo R MS M. 4 2017-03-16 False K000188 Rep. Kind, Ron [D-WI-3] RON KIND D WI 3 2017-05-02 False R000583 Rep. Rooney, Thomas J. [R-FL-17] Thomas Rooney R FL J. 17 2017-05-11 False H000324 Rep. Hastings, Alcee L. [D-FL-20] ALCEE HASTINGS D FL L. 20 2017-05-16 False R000592 Rep. Rokita, Todd [R-IN-4] Todd Rokita R IN 4 2017-05-17 False D000600 Rep. Diaz-Balart, Mario [R-FL-25] Mario Diaz-Balart R FL 25 2017-05-17 False B001257 Rep. Bilirakis, Gus M. [R-FL-12] Gus Bilirakis R FL M. 12 2017-05-18 False B001305 Rep. Budd, Ted [R-NC-13] Ted Budd R NC 13 2017-05-22 False F000466 Rep. Fitzpatrick, Brian K. [R-PA-8] Brian Fitzpatrick R PA K. 8 2017-05-23 False C001077 Rep. Coffman, Mike [R-CO-6] Mike Coffman R CO 6 2017-06-02 False D000627 Rep. Demings, Val Butler [D-FL-10] Val Demings D FL Butler 10 2017-06-02 False L000569 Rep. Luetkemeyer, Blaine [R-MO-3] Blaine Luetkemeyer R MO 3 2017-06-07 False S001195 Rep. Smith, Jason [R-MO-8] Jason Smith R MO 8 2017-06-08 False H001047 Rep. Himes, James A. [D-CT-4] James Himes D CT A. 4 2017-06-12 False W000816 Rep. Williams, Roger [R-TX-25] Roger Williams R TX 25 2017-06-13 False R000586 Rep. Renacci, James B. [R-OH-16] James Renacci R OH B. 16 2017-06-22 False 2013-04-22T04:00:00Z H.R. 1422, EPA Science Advisory Board Reform Act of 2013 https://www.cbo.gov/publication/52538 As ordered reported by the House Committee on Science, Space, and Technology on April 11, 2013 2017-07-14T15:18:00Z H.R. 1422, Private Flood Insurance Market Development Act of 2017 https://www.cbo.gov/publication/44265 As ordered reported by the House Committee on Financial Services on June 21, 2017 Finance and Financial Sector American Samoa Caribbean area Disaster relief and insurance Floods and storm protection Housing finance and home ownership Northern Mariana Islands Puerto Rico Virgin Islands Finance and Financial Sector

00 2017-03-08 Introduced in House 2018-06-19T21:44:01Z Flood Insurance Market Parity and Modernization Act

This bill amends the Flood Disaster Protection Act of 1973 to revise requirements for federal and private flood insurance.

This bill revises the financial requirements that apply to flood insurance for home loans or loan guarantees by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Private flood insurance must meet any financial strength requirements set forth by Fannie Mae and Freddie Mac.

Private flood insurance may include nonadmitted insurers (including surplus lines insurance) as long as the insurer is eligible to provide insurance in the home state of the insured and complies with the laws and regulations of that state.

The National Flood Insurance Act of 1968 is amended to direct the Federal Emergency Management Agency (FEMA) to consider any period during which a property was continuously covered by private flood insurance to be a period of continuous insurance coverage, including for the purposes of National Flood Insurance Program subsidies.

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17 2017-07-14 Reported to House with amendment(s) 2018-06-20T19:22:48Z Private Flood Insurance Market Development Act of 2017

This bill amends the Flood Disaster Protection Act of 1973 to revise requirements for federal and private flood insurance.

The bill revises the financial requirements that apply to flood insurance for home loans or loan guarantees by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and other federal mortgage entities. Private flood insurance must meet any financial strength requirements set forth by the Federal Housing Finance Agency.

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Private Flood Insurance Market Development Act of 2017 Display Title Private Flood Insurance Market Development Act of 2017 Official Title as Introduced To amend the Flood Disaster Protection Act of 1973 to require that certain buildings and personal property be covered by flood insurance, and for other purposes. Introduced in House IH Short Titles as Introduced Flood Insurance Market Parity and Modernization Act Short Titles as Reported to House Private Flood Insurance Market Development Act of 2017 H House Reported in House 2017-07-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr1422rh/xml/BILLS-115hr1422rh.xml Introduced in House 2017-03-08T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr1422ih/xml/BILLS-115hr1422ih.xml 2017-07-14 Placed on the Union Calendar, Calendar No. 155. 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.