A bill to require the Administrator of the Federal Emergency Management Agency to take certain actions relating to the National Flood Insurance Program, and for other purposes.
Risk Rating 2.0 Transparency Act
This bill requires the Federal Emergency Management Agency (FEMA) to release specified information regarding the National Flood Insurance Program's new Risk Rating 2.0. Risk Rating 2.0 went into effect on October 1, 2021, for new policies and on April 1, 2022, for existing policies. It bases premium rates on an individual property's specific flood risk instead of the flood risk of a general location and property type.
Under the bill, FEMA must
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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