[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 601 Introduced in Senate (IS)]

<DOC>






118th CONGRESS
  1st Session
                                 S. 601

To amend the National Flood Insurance Act of 1968 to modify the amount 
  by which the chargeable risk premium rate for flood insurance under 
                 that Act may be increased in any year.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 1, 2023

Mr. Kennedy (for himself and Mr. Rubio) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To amend the National Flood Insurance Act of 1968 to modify the amount 
  by which the chargeable risk premium rate for flood insurance under 
                 that Act may be increased in any year.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Flood Insurance Affordability Act''.

SEC. 2. ANNUAL LIMITATION ON PREMIUM INCREASES.

    Section 1308(e)(1) of the National Flood Insurance Act of 1968 (42 
U.S.C. 4015(e)(1)) is amended, in the matter preceding subparagraph 
(A), by striking ``18 percent'' and inserting ``9 percent''.
                                 <all>