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United States · Bill · HR

H.R. 1422 (115th)

Private Flood Insurance Market Development Act of 2017

openUnited States· United States Congress· EN

Introduced

8 March 2017

Last action

14 July 2017 · Reported

Status

Placed on the Union Calendar, Calendar No. 155.

Sponsors

Rep. Ross, Dennis A. [R-FL-15], Rep. Castor, Kathy [D-FL-14], Rep. Hollingsworth, Trey [R-IN-9], Rep. Mooney, Alexander X. [R-WV-2], Rep. Posey, Bill [R-FL-8], Rep. Loudermilk, Barry [R-GA-11], Rep. Palazzo, Steven M. [R-MS-4], Rep. Kind, Ron [D-WI-3], Rep. Rooney, Thomas J. [R-FL-17], Rep. Hastings, Alcee L. [D-FL-20], Rep. Rokita, Todd [R-IN-4], Rep. Diaz-Balart, Mario [R-FL-26], Rep. Bilirakis, Gus M. [R-FL-12], Sen. Budd, Ted [R-NC], Rep. Fitzpatrick, Brian K. [R-PA-1], Rep. Coffman, Mike [R-CO-6], Rep. Demings, Val Butler [D-FL-10], Rep. Luetkemeyer, Blaine [R-MO-3], Rep. Smith, Jason [R-MO-8], Rep. Himes, James A. [D-CT-4], Rep. Williams, Roger [R-TX-25], James Renacci

Subjects

Discovery layer

Source updated

5 December 2025

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Summary

Flood Insurance Market Parity and Modernization Act This bill amends the Flood Disaster Protection Act of 1973 to revise requirements for federal and private flood insurance. This bill revises the financial requirements that apply to flood insurance for home loans or loan guarantees by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Private flood insurance must meet any financial strength requirements set forth by Fannie Mae and Freddie Mac. Private flood insurance may include nonadmitted insurers (including surplus lines insurance) as long as the insurer is eligible to provide insurance in the home state of the insured and complies with the laws and regulations of that state. The National Flood Insurance Act of 1968 is amended to direct the Federal Emergency Management Agency (FEMA) to consider any period during which a property was continuously covered by private flood insurance to be a period of continuous insurance coverage, including for the purposes of National Flood Insurance Program subsidies.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 8 March 2017

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 8 March 2017

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 8 March 2017

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 21 June 2017

    Vote

    Ordered to be Reported (Amended) by the Yeas and Nays: 58 - 0.

    Source: Committee

  5. 21 June 2017

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  6. 14 July 2017

    Calendars

    Placed on the Union Calendar, Calendar No. 155.

    Source: Calendars

  7. 14 July 2017

    Reported

    Reported (Amended) by the Committee on Financial Services. H. Rept. 115-220.

    Source: Committee

  8. 14 July 2017

    Reported

    Reported (Amended) by the Committee on Financial Services. H. Rept. 115-220.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

6 official files

Reported in House (text)

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Leesvertaling

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  • Reported in House (text)

    Reported in House · EN · 14 July 2017

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  • Reported in House (PDF)

    Reported in House · EN · 14 July 2017

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  • Reported to House with amendment(s)

    summary · EN · 14 July 2017

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  • Introduced in House (text)

    Introduced in House · EN · 8 March 2017

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  • Introduced in House (PDF)

    Introduced in House · EN · 8 March 2017

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  • Introduced in House

    summary · EN · 8 March 2017

    Open at official source

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Sponsors

Related records

Sources

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