3.0.0 7643 2022-12-29T23:48:33Z 2022-12-29T23:48:33Z House HR 2022-05-03 117 [Congressional Record Volume 168, Number 73 (Tuesday, May 3, 2022)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. CRIST:H.R. 7643.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8.[Page H4714]]]> hsba00 Financial Services Committee House Standing Referred to 2022-05-03T14:03:15Z 2022-05-03 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2022-05-03 Introduced in House IntroReferral Intro-H 9 Library of Congress 2022-05-03 Introduced in House IntroReferral 1000 9 Library of Congress C001111 Rep. Crist, Charlie [D-FL-13] Charlie Crist D FL 13 N D000627 Rep. Demings, Val Butler [D-FL-10] Val Demings D FL Butler 10 2022-08-19 False S001200 Rep. Soto, Darren [D-FL-9] Darren Soto D FL 9 2022-08-19 False L000586 Rep. Lawson, Al, Jr. [D-FL-5] Al Lawson D FL 5 2022-08-19 False Finance and Financial Sector Finance and Financial Sector 00 2022-05-03 Introduced in House 2022-09-29T14:49:23Z Fueling Affordable Insurance for Today's Homeowners Act of 2022 or the FAITH Act of 2022

This bill establishes the Natural Disaster Risk Reinsurance Program within the Department of the Treasury. States may voluntarily participate in the program.

The program provides payments to states for damages from a natural disaster not covered by the National Flood Insurance Program for amounts in excess of trigger amounts. These trigger amounts are calculated by the National Academy of Sciences.

States must present a plan that ensures the coverage of losses by insurers not exceeding the trigger amount. States must also pledge to repay the full amount provided by the program within 10 years.

]]> FAITH Act of 2022 Display Title FAITH Act of 2022 Short Title(s) as Introduced FAITH Act of 2022 Introduced in House IH Short Title(s) as Introduced Fueling Affordable Insurance for Today’s Homeowners Act of 2022 Introduced in House IH Official Title as Introduced To establish a Natural Disaster Risk Reinsurance Program, and for other purposes. Introduced in House IH Introduced in House 2022-05-03T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117hr7643ih/xml/BILLS-117hr7643ih.xml 2022-05-03 Referred to the House Committee on Financial Services. 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.