No NFIP Subsidies for Millionaires Act 2021-09-23 Introduced in Senate No NFIP Subsidies for Millionaires Act

This bill requires that the premium rate for flood insurance provided through the National Flood Insurance Program (NFIP) for single-family homes valued at more than $1 million be based on sound actuarial principles and not be subject to any rate caps. Under current law, certain types of property are not charged actuarial rates for NFIP coverage.

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