A bill to amend the National Flood Insurance Act of 1968 to modify the amount by which the chargeable risk premium rate for flood insurance under that Act may be increased in any year.
Flood Insurance Affordability Act
This bill lowers the annual limit on National Flood Insurance Program (NFIP) premium increases applicable to primary residences from 18% to 9%.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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