3.0.0 2833 2023-03-08T20:12:14Z 2023-03-08T20:12:14Z Senate S 2021-09-23 117 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2021-09-23T21:31:47Z 2021-09-23 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2021-09-23 Introduced in Senate IntroReferral 10000 9 Library of Congress L000577 Sen. Lee, Mike [R-UT] Mike Lee R UT N S001217 Sen. Scott, Rick [R-FL] Rick Scott R FL 2021-09-23 True Finance and Financial Sector Finance and Financial Sector 00 2021-09-23 Introduced in Senate 2022-02-11T20:58:36Z NFIP Underwater Properties Act

This bill requires that the premium rate for flood insurance provided through the National Flood Insurance Program (NFIP) for structures that have incurred repetitive flood-related damage 1) be based on sound actuarial principles, and 2) not be subject to any rate caps if the structure is located in a special flood hazard area. Under current law, certain types of property are not charged actuarial rates for NFIP coverage.

]]> NFIP Underwater Properties Act Display Title NFIP Underwater Properties Act Official Title as Introduced A bill to amend the National Flood Insurance Act of 1968 to address the premium rates for certain properties under the National Flood Insurance Program, and for other purposes. Introduced in Senate IS Short Title(s) as Introduced NFIP Underwater Properties Act Introduced in Senate IS Introduced in Senate 2021-09-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s2833is/xml/BILLS-117s2833is.xml 2021-09-23 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.