Empowering Homeowners to Mitigate Flood Damage Act of 2017

Bill: 115-hr-1929
Sponsor: full_name: Rep. Crist, Charlie [D-FL-13]
Introduced: 2017-04-05
Policy area: Finance and Financial Sector
Subjects: Disaster relief and insurance

Floods and storm protection
Latest action: action_date: 2017-04-05
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2017-04-05
action_desc: Introduced in House
text: <p><b>Empowering Homeowners to Mitigate Flood Damage Act of 2017</b></p> <p>This bill amends the National Flood Insurance Act of 1968 to increase the amount of coverage available under the National Flood Insurance Program's (NFIP's) Increased Cost of Compliance program. The program insures the cost of mitigating future flood damage to an NFIP-insured structure that has been substantially or repetitively damaged by floods.</p>

tv_txt: I 115th CONGRESS 1st Session H. R. 1929 IN THE HOUSE OF REPRESENTATIVES April 5, 2017 Mr. Crist introduced the following bill; which was referred to the Committee on Financial Services A BILL To increase the maximum amount of increased cost of compliance coverage available under the National Flood Insurance Program, and for other purposes.

1. Short title This Act may be cited as the Empowering Homeowners to Mitigate Flood Damage Act of 2017 . 2. Increased cost of compliance coverage Section 1304(b) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4011(b) ) is amended— (1) in paragraph (4), by redesignating subparagraphs (A) through (D) as clauses (i) through (iv), respectively; (2) by redesignating paragraphs (1) through (4) as subparagraphs (A) through (D), respectively; (3) by inserting before The national flood insurance program the following: (1) In general .— ; (4) by striking The Administrator and inserting the following: (2) Premium The Administrator ; and (5) by adding at the end the following new paragraphs: (3) Amount of coverage Each policy for flood insurance coverage made available under this title shall provide coverage under this subsection having an aggregate liability for any single property of $60,000. (4) Treatment of coverage limits Any amount of coverage for a property provided pursuant to this subsection shall not be considered or counted for purposes of any limitation on coverage applicable to such property under section 1306(b) ( 42 U.S.C. 4013(b) ). .