[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2995 Introduced in House (IH)]
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117th CONGRESS
1st Session
H. R. 2995
To require a report regarding the potential impacts of any changes to
the risk-rating methodology for the National Flood Insurance Program of
the Federal Emergency Management Agency before implementation, and for
other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
May 4, 2021
Miss Rice of New York (for herself and Mr. Garbarino) introduced the
following bill; which was referred to the Committee on Financial
Services
_______________________________________________________________________
A BILL
To require a report regarding the potential impacts of any changes to
the risk-rating methodology for the National Flood Insurance Program of
the Federal Emergency Management Agency before implementation, and for
other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``National Flood Insurance Program
Reporting on Impact to Seaboards and Counties Act of 2021'' or the
``NFIP RISC Act of 2021''.
SEC. 2. CONGRESSIONAL FINDINGS.
The Congress finds that--
(1) 30 percent of the population of the United States and
50 percent of the gross domestic product of the United States
is located on the Atlantic coast or the Gulf of Mexico coast,
areas frequently hit by coastal storms and hurricanes;
(2) 90 percent of all natural disasters involve flooding;
(3) all 50 States have experienced floods and flash floods
between 2015 and 2020;
(4) in most States, enrollment in the National Flood
Insurance Program has decreased between 15 and 35 percent since
2011;
(5) some of the poorest, most disenfranchised populations
live in floodplains because the land is cheaper and moving out
of such areas is not a feasible solution; and
(6) such communities are significantly impacted by floods
and other extreme weather events and are often less equipped to
rebuild or relocate afterwards.
SEC. 3. REPORT ON IMPACTS OF CHANGES TO FLOOD INSURANCE METHODOLOGY.
Not later than 6 months before implementing any chargeable premium
rate for flood insurance coverage pursuant to section 1308 of the
National Flood Insurance Act of 1968 that is related to a change in
flood-risk assessment methodology, the Administrator of the Federal
Emergency Management Agency shall report on the website of the Agency
an analysis of the expected impacts of such resulting new rates on--
(1) participation of communities in the National Flood
Insurance Program;
(2) chargeable premium rates for flood insurance coverage
under such Program and estimated rates for such coverage
pursuant to section 1307 of the National Flood Insurance Act of
1968 (42 U.S.C. 4014);
(3) chargeable premiums for various categories of
properties, including properties paying less than risk base
rate and properties that are low income, very low income, and
extremely low income, as defined by the Federal Emergency
Management report to the Congress entitled ``An Affordability
Framework for the National Flood Insurance Program'', released
April 17, 2018 (Release Number HQ-18-035);
(4) National Flood Insurance Program policyholders,
including annual premium increases and decreases;
(5) the extent to which the number of flood insurance
claims on a property will influence the property's rating;
(6) the finances of the National Flood Insurance Program;
(7) the community rating system and flood hazard area
mapping, including the funding for such systems, public
communications of any such changes, and floodplain management
procedures;
(8) flood mitigation programs, including changes to flood
mitigation grant programs resulting from a change in rating
methodology;
(9) replacement cost value, due to fluctuations in premium
prices; and
(10) the results and conclusions of the report specified in
paragraph (3) of this section.
SEC. 4. PANDEMIC PROTECTION.
The Administrator of the Federal Emergency Management Agency may
not implement any changes to the flood-risk assessment methodology for
the National Flood Insurance Program--
(1) during the effective period of the emergency declared
by the President on March 13, 2020, pursuant to section 501(b)
of the Robert T. Stafford Disaster Relief and Emergency
Assistance Act (42 U.S.C. 5121(b)), relating to the Coronavirus
Disease 2019 (COVID-19); or
(2) during the 6-month period that begins upon the
termination of such effective period.
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