To require the provision of information sufficient for homebuyers and homeowners to insure themselves against loss from subsidence resulting from underground coal or clay mines.
Mine Subsidence Right To Know Act - Requires the lender of any federally related mortgage loan for the purchase of a dwelling located in a mine subsidence hazard State to provide written and oral notice to the borrower contemporaneous with the purchase agreement of: (1) the potential or actual hazards facing the property as a result of its location; (2) the availability or results of Federal determination of potential or actual hazard in the property area; and (3) the availability of insurance protection.
Requires the insurer of a homeowner's insurance policy to timely notify the policyholder of the absence or availability of coverage for mine subsidence damage.
Requires the Director of the Office of Surface Mining Reclamation and Enforcement of the Department of the Interior to: (1) identify, certify, and subsequently publish in the Federal Register all areas in each State that are subject to mine subsidence hazard risk; and (2) periodically review such areas.
Introduced in House
Introduced in House
Referred to House Banking and Financial Services
Referred to the Committee on Banking and Financial Services, and in addition to the Committee on Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to House Resources
Referred to the Subcommittee on Energy and Mineral Resources.
Executive Comment Requested from Interior.
Referred to the Subcommittee on Housing and Community Opportunity.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line