PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Financial Services.
Congressional Research Service
Version 00 · Introduced in House · Apr 11, 2013
Amends the National Flood Insurance Act of 1968 to authorize the Administrator of the Federal Emergency Management Agency (FEMA) to provide flood insurance to certain prospective insureds at rates less than certain statutory estimates.
Increases by 12.5% each year the chargeable risk premium rates for flood insurance for business property and for residential property which is not the primary residence of an individual until the average risk premium rate for such properties is equal to the average of the risk premium rates for specified other properties.
Increases by 12.5% each year the chargeable risk premium rates for flood insurance for primary residences purchased after the enactment of the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters [enacted July 6, 2012]) as if such increase began on the date of such enactment, until the average risk premium rate for such primary residences is equal to the average of the risk premium rates for specified other properties.
Showing the opening paragraphs of the official summary.
Requires the FEMA Administrator to adjust the chargeable risk premium rates for flood insurance, for properties subject to such 12.5% increase, as if the amendments made by this Act were enacted at the same time as Biggert-Waters.
People & committees
Rep. LoBiondo, Frank A. [R-NJ-2] · R–NJ
Legislative record
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Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Jan 3, 2025. Consult Congress.gov for the current record.
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