[Congressional Record (Bound Edition), Volume 152 (2006), Part 10]
[Extensions of Remarks]
[Page 13035]
[From the U.S. Government Publishing Office, www.gpo.gov]




                          PERSONAL EXPLANATION

                                 ______
                                 

                           HON. SCOTT GARRETT

                             of new jersey

                    in the house of representatives

                        Wednesday, June 28, 2006

  Mr. GARRETT of New Jersey. Mr. Speaker, due to unforseen 
circumstances, I was unavoidably delayed and unable to vote on final 
passage of H.R. 4973, the Flood Insurance Reform and Modernization Act. 
I fully support this bill, which makes significant reforms to the 
National Flood Insurance Program, further updating flood maps and 
increasing the phase-in of actuarial rates on vacation homes, second 
homes, and nonresidential properties that have been subsidized by the 
program since its inception. This bill also includes an amendment that 
I offered that would require purchasers of primary residential homes to 
pay actuarially-based flood insurance prices through the same phase-in 
structure used in the bill for nonresidential properties and non-
primary homes. I look forward to seeing this act signed into law and 
seeing the many improvements contained in this bill enacted. Had I been 
able, I would have voted ``yes'' for this bill.

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