H.R.2868 - National Flood Insurance Program Policyholder Protection Act of 2017115th Congress (2017-2018)
|Sponsor:||Rep. Zeldin, Lee M. [R-NY-1] (Introduced 06/08/2017)|
|Committees:||House - Financial Services|
|Committee Reports:||H. Rept. 115-211|
|Latest Action:||House - 07/11/2017 Placed on the Union Calendar, Calendar No. 148. (All Actions)|
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Summary: H.R.2868 — 115th Congress (2017-2018)All Information (Except Text)
Reported to House without amendment (07/11/2017)
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
National Flood Insurance Program Policyholder Protection Act of 2017
(Sec. 2) This bill amends the National Flood Insurance Act of 1968 to limit the chargeable flood insurance premium for a residential property having 4 or fewer residences to no more than $10,000 a year, subject to adjustments for future inflation.
(Sec. 3) In determining chargeable premium rates, the Federal Emergency Management Agency (FEMA) shall offer a rate reduction if policyholders implement specified mitigation methods. Mitigation techniques that qualify for such rate reduction include methods that can be utilized on a block or neighborhood scale, and the elevation of mechanical systems.
(Sec. 4) FEMA shall conduct a study of the feasibility of providing coverage for individual units in cooperative housing projects.