Flood Insurance Fairness Act

Bill: 117-hr-4226
Sponsor: full_name: Rep. Gimenez, Carlos A. [R-FL-26]
Introduced: 2021-06-29
Policy area: Finance and Financial Sector
Subjects: Disaster relief and insurance

Floods and storm protection
Latest action: action_date: 2021-06-29
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2021-06-29
action_desc: Introduced in House
text: <p><strong>Flood Insurance Fairness Act </strong></p> <p>This bill prohibits the Federal Emergency Management Agency (FEMA) from adjusting the premium rate of flood insurance issued under the National Flood Insurance Program. Under current law, FEMA has statutory authority to set premium rates subject to certain limitations on annual increases.</p>

tv_txt: I 117th CONGRESS 1st Session H. R. 4226 IN THE HOUSE OF REPRESENTATIVES June 29, 2021 Mr. Gimenez introduced the following bill; which was referred to the Committee on Financial Services A BILL To restrict the ability of the Administrator of the Federal Emergency Management Agency to adjust the rates for flood insurance coverage under the National Flood Insurance Program, and for other purposes.

1. Short title This Act may be cited as the Flood Insurance Fairness Act . 2. Chargeable premium rates Notwithstanding any other provision of law, including section 1308 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4015 ), with respect to the chargeable premium rates described in subsection (a)(1) of that section, as in effect on the date of enactment of this Act, the Administrator of the Federal Emergency Management Agency may not adjust those rates unless a duly enacted law of the United States enacted after the date of enactment of this Act provides the Administrator with that authority.