A bill to expand the eligible premium refund opportunities for persons who, as a result of new mapping data do not reside in a special flood hazard area.
Flood Insurance Refund Adjustment Act - Instructs the Administrator of the Federal Emergency Management Agency (FEMA) to modify certain regulations governing premium refunds so that a standard flood insurance policyholder, whose property has been determined not to be in a special flood hazard area as a result of a specified flood map revision, has one year to submit a policy adjustment claim for a policy cancellation and refund.
Declares such adjustment claims inapplicable to flood claims that have been paid or are pending.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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