[Congressional Record Volume 160, Number 38 (Thursday, March 6, 2014)]
[Extensions of Remarks]
[Page E320]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          HOMEOWNER FLOOD INSURANCE AFFORDABILITY ACT OF 2014

                                 ______
                                 

                               speech of

                        HON. MICHAEL E. CAPUANO

                            of massachusetts

                    in the house of representatives

                         Tuesday, March 4, 2014

  Mr. CAPUANO. Mr. Speaker, I support H.R. 3370, the Homeowner Flood 
Insurance Affordability Act of 2013, because we need to fix the 
National Flood Insurance Program, create more transparency in how it is 
administered and get the program out of debt. This bill is a step 
forward in that direction. In addition to lowering rates for some 
policyholders who have seen sharp spikes in their annual premiums, the 
bill requires FEMA to implement a flood mapping program that results in 
technically credible flood hazard data; designate a flood insurance 
advocate to educate policyholders and coordinate with local officials; 
consult with communities before using new flood maps; and make publicly 
available any changes to rate tables and underwriting guidelines before 
instituting any such changes.
  I also believe, however, that we could do more. By rushing this bill 
through the Congress we failed even to debate, let alone address, the 
Program's impact on non-primary residences--moderately priced second 
homes, small businesses, houses of worship, schools, non-profits. While 
H.R. 3370 will stop the spike in premiums for some primary homeowners, 
it will do nothing to keep premiums affordable for the small businesses 
that provide vital services to and strengthen the economies of coastal 
communities; and it will do nothing to ensure that the churches, 
schools, and non-profit institutions that anchor these communities will 
be able to afford their rising premiums. On the contrary, the bill 
includes a premium surcharge of $250 per year on second homes and non-
residential properties as a way to offset its cost.
  Clearly, H.R. 3370 is not perfect, but it is an improvement over the 
status quo and that's why I will vote for it. On balance, I feel that 
it is better to accept an imperfect bill than wait for a perfect 
measure. However, we must continue to seek opportunities to address 
these defects as we move forward.

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