Summary: H.R.471 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.471. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (01/10/2019)

Taxpayer Exposure Mitigation Act

This bill requires the Federal Emergency Management Agency (FEMA) to annually transfer a portion of the risk from the National Flood Insurance Program (NFIP) to private reinsurance or capital markets. The amount of transferred risk must be based on a probable maximum loss target for NFIP established by FEMA each fiscal year.