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Congressional Research Service
Version 00 · Introduced in House · Mar 26, 2007
Flood Insurance Reform and Modernization Act of 2007 - Instructs the Comptroller General to study and report to Congress on: (1) the status of the national flood insurance program for specified pre-FIRM properties (containing a structure neither constructed nor substantially improved after the later of December 31, 1974, or the effective date of the initial rate map published by the Director of the Federal Emergency Management Agency (FEMA) under the National Flood Insurance Act of 1968 (NFIA) for the pertinent area); (2) the extension of mandatory flood insurance coverage purchase requirements to properties located in any area that would be designated as having special flood hazards but for the existence of a structural flood protection system; and (3) the mandatory purchase requirement in connection with non-federally related loans.
Amends the NFIA to include nonresidential properties and nonprimary residences within the guidelines for actuarial rate properties.
Amends the Flood Disaster Protection Act of 1973 to increase civil monetary penalties.
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Amends the NFIA to: (1) increase flood insurance coverage for residential property; (2) provide coverage for necessary increases in living expenses, basement improvements, business interruption, and replacement cost of contents; (3) provide for notification to tenants of the availability of contents insurance; and (4) increase borrowing authority for the flood insurance program.
Requires FEMA, upon request, to participate in state disaster claims mediation programs.
Authorizes grants for outreach to property owners and renters to encourage purchase of flood insurance protection.
Extends funding through FY2011 for the pilot program for mitigation of severe repetitive loss properties.
Includes demolition and rebuilding activities within the flood mitigation assistance program.
Amends the Real Estate Settlement Procedures Act of 1974 to require good faith estimates to state that flood insurance coverage for residential real estate is generally available, whether or not the real estate is located in an area having special flood hazards.
Instructs the FEMA Director to: (1) establish a decisions appeals process for flood insurance policyholders; (2) establish a program to review, update, and maintain flood insurance program maps; and (3) clarify the applicability of replacement cost coverage.
Reestablishes the Technical Mapping Advisory Council.
People & committees
Rep. Frank, Barney [D-MA-4] · D–MA
Legislative record
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Subcommittee Hearings Held.
Referred to the Subcommittee on Housing and Community Opportunity.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.
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