A bill to clarify that any private flood insurance policy accepted by a State shall satisfy the mandatory purchase requirement under the Flood Disaster Protection Act of 1973.
Flood Insurance Market Parity and Modernization Act of 2014 - Amends the Flood Disaster Protection Act of 1973 to redefine "private flood insurance" to include a policy issued by an insurance company that is eligible as a nonadmitted insurer to provide insurance in the state or jurisdiction where the property to be insured is located.
Referred to the House Committee on Financial Services.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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