3.0.0 3997 2025-05-27T14:15:00Z 2025-05-27T14:15:00Z House H HR 2023-06-09 118 <pre>[Congressional Record Volume 169, Number 101 (Friday, June 9, 2023)][House]From the Congressional Record Online through the Government Publishing Office [<a href="https://www.gpo.gov">www.gpo.gov</a>]By Ms. WILSON of Florida:H.R. 3997.Congress has the power to enact this legislation pursuantto the following:This bill is enacted pursuant to the power granted toCongress under Article I, Section 8, clause 3 of the UnitedStates Constitution.The single subject of this legislation is:Establishment of an American reinsurance fund, a nationalconsortium, and pre-disaster mitigation programs.[Page H2791]</pre> hsba00 Financial Services Committee House Standing Referred To 2023-06-09T13:08:10Z 2023-06-09 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2023-06-09 Introduced in House IntroReferral Intro-H 9 Library of Congress 2023-06-09 Introduced in House IntroReferral 1000 9 Library of Congress W000808 Rep. Wilson, Frederica S. [D-FL-24] Frederica Wilson D FL S. 24 N J000288 Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4] Henry Johnson D GA C. "Hank" 4 2023-07-17 False Finance and Financial Sector Finance and Financial Sector 2023-07-12T16:46:33Z

00 2023-06-09 Introduced in House 2024-03-08T17:54:38Z <p><b>Homeowners' Defense Act of 2023 </b></p> <p>This bill allows the Department of the Treasury to guarantee the debt issued by an eligible state catastrophe insurance program, with limitations on the total amount of debt guaranteed. To qualify, a state program must (1) be established and authorized by state law as an insurance program or a reinsurance program designed to support the private insurance market, and (2) offer residential property insurance coverage for losses arising from any personal residential line of insurance. Treasury must pay the portion of the principal and interest on guaranteed debt due for payment if the state program has insufficient funds.</p> <p>Treasury must also make reinsurance coverage available to eligible state programs. (Reinsurance protects insurers from large losses.) The bill also establishes the Federal Natural Catastrophe Reinsurance Fund, funded in part by the sale of reinsurance contracts, to pay out eligible losses. </p> <p>The bill also establishes the National Catastrophe Risk Consortium which must maintain an inventory of catastrophic risk obligations held by natural catastrophe insurance, among other functions.</p> <p>The Department of Housing and Urban Development must provide grants to entities (such as states) for the purpose of preventing and mitigating losses from natural catastrophes. </p> <p>The Government Accountability Office must report on risk-based rate pricing and state insurance program rates.</p>

Display Title 45 2024-07-24T15:21:40Z Short Title(s) as Introduced 101 2024-05-24T13:38:56Z Introduced in House IH Official Title as Introduced 6 2024-03-18T20:58:18Z Introduced in House IH Introduced in House 2023-06-09T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr3997ih/xml/BILLS-118hr3997ih.xml 2023-06-09 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.