H.R.1267 - Flood Insurance Premium Relief Act of 2013113th Congress (2013-2014)
|Sponsor:||Rep. Palazzo, Steven M. [R-MS-4] (Introduced 03/19/2013)|
|Committees:||House - Financial Services|
|Latest Action:||House - 03/19/2013 Referred to the House Committee on Financial Services. (All Actions)|
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Summary: H.R.1267 — 113th Congress (2013-2014)All Information (Except Text)
Introduced in House (03/19/2013)
Flood Insurance Premium Relief Act of 2013 - States that the flood insurance risk premium rate for property purchased between July 6, 2012, and January 1, 2015, shall, during the 12-month period beginning upon such purchase, be the amount chargeable for such property immediately before its purchase (thus delaying implementation of the rate increase).
Requires phase-in of the rate increase, following expiration of such 12-month period, over a 10-year period, at 10% for each year.
Makes conforming amendments to the National Flood Insurance Act of 1968.