To amend the National Flood Insurance Act of 1968 to provide for a phased-in increase of chargeable premium rates for properties affected by updated Flood Insurance Rate Maps.
Referred to the House Committee on Financial Services.
Congressional Research Service
Official summary
Version 00 · Introduced in House · Dec 1, 2009
Amends the National Flood Insurance Act of 1968 to provide that an increase in the risk premium rate charged for covered properties mapped into a higher-risk flood zone as the result of an update to a Flood Insurance Rate Map (post-FIRM properties) shall be limited to an annual increase for 5 years of 20% per year of the difference between: (1) the risk premium rate otherwise chargeable pursuant to such update; and (2) the chargeable risk premium rate for such property that existed before such update.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jan 2, 2025. Consult Congress.gov for the current record.
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