H.R.3317 - Flood Insurance Integrity Act of 2015114th Congress (2015-2016)
|Sponsor:||Rep. Bilirakis, Gus M. [R-FL-12] (Introduced 07/29/2015)|
|Committees:||House - Financial Services|
|Latest Action:||House - 07/29/2015 Referred to the House Committee on Financial Services. (All Actions)|
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Summary: H.R.3317 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in House (07/29/2015)
Flood Insurance Integrity Act of 2015
Directs the Government Accountability Office (GAO) to review every four years the rate tables established by the Federal Emergency Management Agency for implementing the national flood insurance program under the National Flood Insurance Act of 1968, and determine whether: (1) the chargeable premium rates for flood insurance coverage determined by those tables are actuarially sound, based on standard actuarial practices used in the private sector; and (2) such chargeable premium rates are sufficient to ensure the long-term financial sustainability of the national flood insurance program.
Directs GAO to review annually the process for establishing and updating flood insurance rate maps and determine the degree of accuracy of the mapping process.