3.0.0 563 2023-01-11T13:36:18Z 2023-01-11T13:36:18Z Senate S 2017-03-08 115 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Hearings by 2017-05-04T14:00:00Z Hearings by 2017-03-14T20:30:51Z Referred to 2017-03-08T15:05:53Z Private Flood Insurance Market Development Act of 2017 115 1422 HR 2017-07-14 Placed on the Union Calendar, Calendar No. 155. 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 2017-05-04 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-16. Committee 2017-03-14 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-16. Committee 2017-03-08 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2017-03-08 Introduced in Senate IntroReferral 10000 9 Library of Congress H001041 Sen. Heller, Dean [R-NV] Dean Heller R NV N T000464 Sen. Tester, Jon [D-MT] Jon Tester D MT 2017-03-08 True R000595 Sen. Rubio, Marco [R-FL] Marco Rubio R FL 2017-03-13 False D000607 Sen. Donnelly, Joe [D-IN] Joe Donnelly D IN 2017-04-04 False P000449 Sen. Portman, Rob [R-OH] Rob Portman R OH 2017-05-02 False C001095 Sen. Cotton, Tom [R-AR] Tom Cotton R AR 2017-05-08 False E000295 Sen. Ernst, Joni [R-IA] Joni Ernst R IA 2017-05-10 False C000567 Sen. Cochran, Thad [R-MS] Thad Cochran R MS 2017-06-08 False P000612 Sen. Perdue, David [R-GA] David Perdue R GA Alfred 2017-07-20 False S001184 Sen. Scott, Tim [R-SC] Tim Scott R SC 2017-11-06 False H001079 Sen. Hyde-Smith, Cindy [R-MS] Cindy Hyde-Smith R MS 2018-06-28 False 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 Senate 2018-06-20T19:11:49Z 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.

]]> Flood Insurance Market Parity and Modernization Act Display Title Flood Insurance Market Parity and Modernization Act Official Title as Introduced A bill 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 Senate IS Short Titles as Introduced Flood Insurance Market Parity and Modernization Act Introduced in Senate 2017-03-08T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s563is/xml/BILLS-115s563is.xml 2017-05-04 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-16. 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.