Flood Insurance Transparency Act of 2021
Bill: S.2916 | Sponsor: Sen. Scott, Rick (R-FL)
Policy area: Finance and Financial Sector

Summary:
Flood Insurance Transparency Act of 2021
This bill requires the Federal Emergency Management Agency (FEMA) make publicly available all data, models, assessments, analytical tools, and other information relating to the National Flood Insurance Program that is used in assessing flood risk or identifying and establishing flood elevations and premiums. This includes data relating to the risks of individual properties, loss ratio information, and current and historical policy and claims information.
To accomplish this, FEMA must establish an open source data system through which all such information may be electronically accessed by the public. Further, FEMA must establish a public database that provides information regarding each community participating in the program.

To amend the National Flood Insurance Act of 1968 to require that 
certain information is made publicly available, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Flood Insurance Transparency Act of 
2021''.

SEC. 2. PUBLIC AVAILABILITY OF PROGRAM INFORMATION.

    Part C of chapter II of the National Flood Insurance Act of 1968 
(42 U.S.C. 4081 et seq.) is amended by adding at the end the following:

``SEC. 1349. PUBLIC AVAILABILITY OF PROGRAM INFORMATION.

    ``(a) Definitions.--In this section--
            ``(1) the term `loss ratio' means, with respect to the 
        national flood insurance program in a fiscal year, the ratio of 
        the amount of claims paid under that program during that fiscal 
        year to the amount of premiums paid under that program during 
        that fiscal year; and
            ``(2) the term `multiple-loss property' means--
                    ``(A) a repetitive loss structure; or
                    ``(B) a severe repetitive loss structure, as that 
                term is defined in section 1366(h).
    ``(b) Flood Risk Information.--
            ``(1) In general.--To facilitate the national flood 
        insurance program becoming a source of information and data for 
        research and development of technology that better understands 
        flooding, the risk of flooding, and the predictability of the 
        perils of flooding, the Administrator shall make publicly 
        available all data, models, assessments, analytical tools, and 
        other information in the possession of the Administrator 
        relating to that program under this title that is used in 
        assessing flood risk or identifying and establishing flood 
        elevations and premiums, including--
                    ``(A) data relating to risk on individual 
                properties, loss ratio information, and other 
                information identifying losses under that program;
                    ``(B) current and historical policy information, 
                limited to the amount and term only, for properties 
                covered by flood insurance under the national flood 
                insurance program (as of the date on which the 
                information is made available) and for properties that 
                are no longer covered by flood insurance under the 
                national flood insurance program (as of the date on 
                which the information is made available);
                    ``(C) current and historical claims information, 
                limited to the date and amount paid only, for 
                properties covered by flood insurance under the 
                national flood insurance program (as of the date on 
                which the information is made available) and for 
                properties that are no longer covered by flood 
                insurance under the national flood insurance program 
                (as of the date on which the information is made 
                available);
                    ``(D) identification of whether a property was 
                constructed before or after the effective date of the 
                first flood insurance rate map for the community in 
                which that property is located;
                    ``(E) identification of properties that have been 
                mitigated through elevation, a buyout, or any other 
                mitigation action; and
                    ``(F) identification of multiple-loss properties 
                with respect to which mitigation measures have not been 
                undertaken.
            ``(2) Open source data system.--In carrying out paragraph 
        (1), the Administrator shall establish an open source data 
        system by which all information required to be made publicly 
        available by that paragraph may be accessed by the public on an 
        immediate basis by electronic means.
    ``(c) Community Information.--Not later than 1 year after the date 
of enactment of this section, the Administrator shall establish and 
maintain a publicly searchable database that provides information about 
each community participating in the national flood insurance program, 
which shall include the following information:
            ``(1) The status of the compliance by that community with 
        the requirements of that program, including any findings of 
        noncompliance, the status of any enforcement actions initiated 
        by a State or by the Administrator, and the number of days of 
        any such continuing noncompliance.
            ``(2) The number of properties located in areas having 
        special flood hazards in the community that were built before 
        the effective date of the first flood insurance rate map for 
        the community.
            ``(3) The number of properties located in areas having 
        special flood hazards in the community that were built after 
        the effective date of the first flood insurance rate map for 
        the community.
            ``(4) The total number of current and historical claims 
        located outside areas having special flood hazards in the 
        community.
            ``(5) The total number of multiple-loss properties in the 
        community.
            ``(6) The portion of the community, stated as a percentage 
        and in terms of square miles, that is located within areas 
        having special flood hazards.
    ``(d) Identification of Properties.--The information provided 
pursuant to subsections (b) and (c) shall--
            ``(1) be based on data that identifies properties at the 
        zip code or census block level; and
            ``(2) with respect to a property, include the name of the 
        community and State in which the property is located.
    ``(e) Protection of Personally Identifiable Information.--The 
information provided pursuant to subsections (b) and (c) shall be 
disclosed in a format that does not reveal individually identifiable 
information about property owners in accordance with section 552a of 
title 5, United States Code.''.
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