NFIP Risk Rating 2.0 Delay Act of 2021

Bill: 117-s-2869
Sponsor: full_name: Sen. Rubio, Marco [R-FL]
Introduced: 2021-09-28
Policy area: Finance and Financial Sector
Latest action: action_date: 2021-09-28
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2021-09-28
action_desc: Introduced in Senate
text: <p><strong>NFIP Risk Rating 2.0 Delay Act of 2021 </strong></p> <p>This bill freezes premium rates for flood insurance provided through the National Flood Insurance Program through September 30, 2022.</p>

tv_txt: II 117th CONGRESS 1st Session S. 2869 IN THE SENATE OF THE UNITED STATES September 28, 2021 Mr. Rubio (for himself, Mr. Cassidy , Mrs. Hyde-Smith , and Mr. Cornyn ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To temporarily limit the authority of the Administrator of the Federal Emergency Management Agency to prescribe chargeable premium rates for flood insurance under the National Flood Insurance Program.

1. Short title This Act may be cited as the NFIP Risk Rating 2.0 Delay Act of 2021 . 2. Premium rate freeze Notwithstanding section 1308(a) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4015(a) ), during the period beginning on the date of enactment of this Act and ending on September 30, 2022, the chargeable premium rates for flood insurance coverage under the National Flood Insurance Act of 1968 ( 42 U.S.C. 4001 et seq. ), as in effect on the day before that date of enactment— (1) shall remain in effect; and (2) may not be adjusted by the Administrator of the Federal Emergency Management Agency.