[Congressional Record Volume 159, Number 170 (Tuesday, December 3, 2013)]
[House]
[Page H7405]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                 HOMEOWNERS FLOOD INSURANCE RELIEF ACT

  (Mr. BILIRAKIS asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. BILIRAKIS. Mr. Speaker, homeowners in my home State of Florida 
and across the country face significant flood insurance rate increases 
as a result of the reforms made to address the solvency of the National 
Flood Insurance Program.
  To ensure that NFIP remains both affordable for homeowners and 
sustainable for taxpayers, I have introduced H.R. 3312, the Homeowners 
Flood Insurance Relief Act. The bill would cap a homeowner's premiums 
at the end of a 10-year phase-in to no more than the appraised value of 
the structure over the course of a 30-year mortgage. It would also 
allow homeowners to pay premiums on a more affordable monthly basis 
rather than an annual lump sum.
  These commonsense changes will ensure that homeowners stay in the 
program and any increased premiums do not harm the already fragile 
housing market's recovery. Furthermore, they continue the intent of the 
NFIP, protecting homeowners from devastating floods while also ensuring 
the program is able to cover its costs.
  I look forward to working with my colleagues to move this legislation 
forward.

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