To require the use of replacement cost value in determining the premium rates for flood insurance coverage under the National Flood Insurance Act, and for other purposes.

referredUnited States· United States Congress· EN

Introduced

1 March 2023

Last action

—

Status

Referred to the House Committee on Financial Services.

Summary

This bill directs the Federal Emergency Management Agency (FEMA) to incorporate the replacement cost value of a structure insured under the National Flood Insurance Program of 1968 in its consideration of chargeable premium rates. FEMA must conduct a study regarding risk rating redesign utilizing replacement cost and report the findings to Congress.

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Documents

3 official files

Introduced in House (text)

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Introduced in House (text)
Introduced in House · EN · 1 March 2023
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Introduced in House (PDF)
Introduced in House · EN · 1 March 2023
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Introduced in House
summary · EN · 1 March 2023
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Sources

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Official source: https://www.congress.gov/bill/118th-congress/house-bill/1309
Open data entity: https://api.congress.gov/v3/bill/118/hr/1309