[Congressional Record Volume 149, Number 2 (Wednesday, January 8, 2003)]
[Extensions of Remarks]
[Page E3]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




    IN SUPPORT OF THE LOW INCOME FAMILIES FLOOD INSURANCE ACCESS ACT

                                 ______
                                 

                            HON. GENE GREEN

                                of texas

                    in the house of representatives

                        Tuesday, January 7, 2003

  Mr. GREEN of Texas. Mr. Speaker, in June of 2001, Texas and other 
States witnessed the damage wrought by Tropical Storm Allison after it 
swept through Texas and up the East Coast, and the importance of the 
National Flood Insurance Program (NFIP) really hit home. Thousands of 
my constituents suffered substantial flood damage to their homes and 
businesses, but many of these losses were mitigated because they had 
federal flood insurance.
  Unfortunately, not all my constituents who needed flood insurance 
could afford to purchase a policy. Because of a recent redraw of 
Houston's Flood Insurance Rate Map (FIRM) many of my low-income folks 
were brought into the 100-year flood plain, but could not afford the 
insurance. As a consequence of my constituents' experience, I rise 
today to introduce the Low Income Families Flood Insurance Access Act.
  This legislation helps bridge the insurance gap between those that 
can afford a flood policy and those that cannot. The bill would provide 
discounted flood insurance over a five-year term for low-income 
homeowners or renters whose primary residence is placed within a 
Special Flood Hazard Area (flood plain) by a redraw of the Flood 
Insurance Rate Map (FIRM). If their property is worth no more than 
$75,000, they would be eligible to receive a 50% discount on their 
flood insurance premiums for a five-year period.
  It also provides for limited retroactivity if their residence is 
placed within the flood plain within two years of the enactment of the 
legislation; otherwise, the five years would begin upon the placement 
of the property within the flood plain. I hope that this legislation 
will not only increase participation in the National Flood Insurance 
Program (NFIP), but make this program more affordable for the 
economically disadvantaged. It provides an incentive for those who are 
most vulnerable to huge losses in floods to get the protection they 
need at a price they can afford.
  The NFIP plays a crucial role in lessening the impact of a major 
flooding disaster, but to make the program operate most effectively we 
need greater participation. I believe my legislation will extend the 
helping hand associated with flood insurance down to those people in 
greatest need of assistance.
  Mr. Speaker, I hope that we can speed this bill through the 108th 
Congress.

                          ____________________