To establish a means-tested assistance program for national flood insurance program policyholders, and for other purposes.
National Flood Insurance Program Affordability Act
This bill requires the Federal Emergency Management Agency to provide discounts on National Flood Insurance Program coverage to low-income households, small businesses, and not-for-profit entities. Specifically, the chargeable premium rate for an eligible primary residential dwelling and related personal property must not exceed 1% of the median income of the area in which the property is located.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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