Flood Protection Modernization Fairness Act of 2020

Bill: 116-hr-8761
Sponsor: full_name: Rep. Gianforte, Greg [R-MT-At Large]
Introduced: 2020-11-17
Policy area: Finance and Financial Sector
Subjects: Disaster relief and insurance

Floods and storm protection

Geography and mapping
Latest action: action_date: 2020-11-17
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2020-11-17
action_desc: Introduced in House
text: <p><b>Flood Protection Modernization Fairness Act of 2020 </b></p> <p>This bill limits the applicable premium rate under the National Flood Insurance Program for 10 years for property located in an area covered by certain incomplete flood mitigation projects.</p>

tv_txt: I 116th CONGRESS 2d Session H. R. 8761 IN THE HOUSE OF REPRESENTATIVES November 17, 2020 Mr. Gianforte introduced the following bill; which was referred to the Committee on Financial Services A BILL To reduce premiums under the National Flood Insurance Program for certain properties, and for other purposes.

1. Short title This Act may be cited as the Flood Protection Modernization Fairness Act of 2020 . 2. Flood insurance premium rates for areas with small flood control projects Notwithstanding section 1308(e) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4015(e) ) or any other provision of law, during the 10-year period beginning on the date of the enactment of this Act, in the case of any property located in an area for which protection is to be provided by a project with respect to which a non-Federal interest has requested assistance pursuant to section 205 of the Flood Control Act of 1948 ( 33 U.S.C. 701s ) but which has not been completed, the premium rate for flood insurance coverage made available under the National Flood Insurance Act of 1968 ( 42 U.S.C. 4001 et seq.) shall be the preferred risk premium rate for such property.