Timely Payments for Flood Victims Act of 2016

Bill: 114-hr-6104
Sponsor: full_name: Rep. Graves, Garret [R-LA-6]
Introduced: 2016-09-21
Policy area: Finance and Financial Sector
Latest action: action_date: 2016-09-21
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2016-09-21
action_desc: Introduced in House
text: <p><strong>Timely Payments for Flood Victims Act of 2016</strong></p> <p>This bill amends the National Flood Insurance Act of 1968 to direct the Federal Emergency Management Agency (FEMA) to require that a final determination and notification regarding approval of a claim for damage to or loss of property under the national flood insurance program be made by the expiration of the 30-day period after such claim was made. Such period may be extended by a single additional period of 15 days if extraordinary circumstances are demonstrated. Claims shall be paid as soon as possible after approval.</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 6104 IN THE HOUSE OF REPRESENTATIVES September 21, 2016 Mr. Graves of Louisiana (for himself, Mr. Boustany , Mr. Richmond , and Mr. Abraham ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To establish a deadline for approval of claims made under the National Flood Insurance Program, and for other purposes.

1. Short title This Act may be cited as the Timely Payments for Flood Victims Act of 2016 . 2. Deadline for approval of claims (a) In general Section 1312 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4019 ) is amended— (1) in subsection (a), by striking The Administrator and inserting Subject to other provisions of this section, the Administrator ; and (2) by adding at the end the following new subsection: (d) Deadline for approval of claims (1) In general The Administrator shall provide that, in the case of any claim for damage to or loss of property under flood insurance coverage made available under this title, a final determination regarding approval of a claim for payment or disapproval of the claim be made, and notification of such determination be provided to the insured making such claim, not later than the expiration of the 30-day period (as such period may be extended pursuant to paragraph (2)) beginning upon the day on which such claim was made. Payment of approved claims shall be made as soon as possible after such approval. (2) Extension of deadline The Administrator shall provide that the period referred to in paragraph (1) may be extended by a single additional period of 15 days in cases where extraordinary circumstances are demonstrated. The Administrator shall, by regulation, establish criteria for demonstrating such extraordinary circumstances and for determining to which claims such extraordinary circumstances apply. . (b) Applicability The amendments made by subsection (a) shall apply to any claim under flood insurance coverage made available under the National Flood Insurance Act of 1968 ( 42 U.S.C. 4001 et seq. ) pending on the date of the enactment of this Act and any claims made after such date of enactment.