To protect National Flood Insurance Program policyholders from unreasonable premium rates and to require the Program to consider the unique characteristics of urban properties, and for other purposes.
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
National Flood Insurance Program Policyholder Protection Act of 2017
(Sec. 2) This bill amends the National Flood Insurance Act of 1968 to limit the chargeable flood insurance premium for a residential property having 4 or fewer residences to no more than $10,000 a year, subject to adjustments for future inflation.
(Sec. 3) In determining chargeable premium rates, the Federal Emergency Management Agency (FEMA) shall offer a rate reduction if policyholders implement specified mitigation methods. Mitigation techniques that qualify for such rate reduction include methods that can be utilized on a block or neighborhood scale, and the elevation of mechanical systems.
(Sec. 4) FEMA shall conduct a study of the feasibility of providing coverage for individual units in cooperative housing projects.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported by the Yeas and Nays: 53 - 0.
Reported by the Committee on Financial Services. H. Rept. 115-211.
Reported by the Committee on Financial Services. H. Rept. 115-211.
Placed on the Union Calendar, Calendar No. 148.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line