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United States · Bill · HR

H.R. 219 (105th)

Homeowners' Insurance Availability Act of 1998

openUnited States· United States Congress· EN

Introduced

7 January 1997

Last action

7 August 1998 · Reported

Status

Placed on the Union Calendar, Calendar No. 389.

Sponsors

Rep. Lazio, Rick [R-NY-2], Rep. Fazio, Vic [D-CA-3], Rep. McCollum, Bill [R-FL-8], Rep. Solomon, Gerald B. H. [R-NY-22], Rep. Castle, Michael N. [R-DE-At Large], Rep. Ackerman, Gary L. [D-NY-5], Rep. Fox, Jon D. [R-PA-13], Rep. Campbell, Tom [R-CA-15], Rep. Christensen, Jon [R-NE-2], Rep. Fattah, Chaka [D-PA-2], Rep. Lofgren, Zoe [D-CA-18], Rep. Bilbray, Brian P. [R-CA-50], Del. Christensen, Donna M. [D-VI-At Large], Rep. Davis, Tom [R-VA-11], Sen. Ensign, John [R-NV], Rep. Matsui, Robert T. [D-CA-5], Rep. Franks, Bob [R-NJ-7], Rep. Jones, Walter B., Jr. [R-NC-3], Rep. Dooley, Calvin M. [D-CA-20], Rep. Wexler, Robert [D-FL-19], Rep. Frelinghuysen, Rodney P. [R-NJ-11], Rep. Radanovich, George [R-CA-19], Rep. John, Christopher [D-LA-7], Rep. Frost, Martin [D-TX-24], Rep. Gejdenson, Sam [D-CT-2], Rep. Watkins, Wes [R-OK-3], Rep. Delahunt, William D. [D-MA-10], Sen. Bunning, Jim [R-KY], Rep. Eshoo, Anna G. [D-CA-18], Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. Combest, Larry [R-TX-19], Rep. Filner, Bob [D-CA-51], Rep. Young, Don [R-AK-At Large], Rep. Knollenberg, Joe [R-MI-9], Rep. LoBiondo, Frank A. [R-NJ-2], Rep. Kilpatrick, Carolyn C. [D-MI-13], Rep. Meek, Carrie P. [D-FL-17], Rep. Price, David E. [D-NC-4], Rep. Canady, Charles T. [R-FL-12], Rep. Metcalf, Jack [R-WA-2], Rep. Emerson, Jo Ann [R-MO-8], Rep. Cunningham, Randy (Duke) [R-CA-50], Rep. Andrews, Robert E. [D-NJ-1], Rep. Sherman, Brad [D-CA-32], Rep. Weldon, Dave [R-FL-15], Rep. Dickey, Jay [R-AR-4], Rep. Berman, Howard L. [D-CA-28]

Subjects

Discovery layer

Source updated

7 April 2025

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Summary

Homeowners' Insurance Availability Act of 1997 - Directs the Secretary of the Treasury to carry out a program under this Act to make reinsurance coverage available to eligible State insurance programs. Requires that such program shall be designed to improve the availability of homeowners' insurance for the purpose of facilitating the pooling, and spreading the risk, of catastrophic financial losses from natural disasters and to improve the solvency of homeowners' insurance markets. Directs the Secretary to offer reinsurance coverage through contracts with eligible purchasers which shall: (1) provide coverage based solely on insurance industry losses within the State of the eligible purchaser purchasing the contract; (2) not interfere in private markets; and (3) minimize the administrative costs of the Federal Government. (Sec. 4) Makes the following entities qualified to purchase contracts for reinsurance coverage made available under this Act: (1) State insurance programs; and (2) State reinsurance programs. (Sec. 5) Sets forth: (1) qualified lines of coverage; (2) covered perils; and (3) terms and conditions of the reinsurance contracts. (Sec. 9) Establishes, within the Treasury, the Disaster Reinsurance Fund. Specifies: (1) the amounts with which the Fund shall be credited; and (2) the uses of the amounts in the Fund. (Sec. 10) Directs the Secretary to establish the National Commission on Catastrophe Risks and Insurance Loss Costs. Requires the Commission to meet for the sole purpose of advising the Secretary regarding the estimated loss costs associated with the reinsurance contracts. Authorizes appropriations. Provides for an offset amount to be obtained from purchasers of reinsurance coverage and deposited in the Fund. (Sec. 11) Mandates a specified report by the Secretary to the Congress.

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

Timeline

  1. 7 January 1997

    Introduced

    Referred to the House Committee on Banking and Financial Services.

    Source: IntroReferral

  2. 7 January 1997

    Introduced

    Sponsor introductory remarks on measure. (CR E66-67)

    Source: IntroReferral

  3. 7 January 1997

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 7 January 1997

    Introduced

    Introduced in House

    Source: IntroReferral

  5. 14 February 1997

    Referred

    Referred to the Subcommittee on Housing and Community Opportunity.

    Source: Committee

  6. 4 February 1998

    Vote

    Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 16 - 6.

    Source: Committee

  7. 4 February 1998

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

  8. 23 April 1998

    Committee

    Committee Hearings Held.

    Source: Committee

  9. 25 June 1998

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  10. 15 July 1998

    Vote

    Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 12.

    Source: Committee

  11. 15 July 1998

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  12. 7 August 1998

    Calendars

    Placed on the Union Calendar, Calendar No. 389.

    Source: Calendars

  13. 7 August 1998

    Reported

    Reported (Amended) by the Committee on Banking and Financial Services. H. Rept. 105-687.

    Source: Committee

  14. 7 August 1998

    Reported

    Reported (Amended) by the Committee on Banking and Financial Services. H. Rept. 105-687.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

6 official files

Reported in House (text)

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  • Reported in House (text)

    Reported in House · EN · 7 August 1998

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  • Reported in House (PDF)

    Reported in House · EN · 7 August 1998

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  • Reported to House with amendment(s)

    summary · EN · 7 August 1998

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  • Introduced in House (text)

    Introduced in House · EN · 7 January 1997

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  • Introduced in House (PDF)

    Introduced in House · EN · 7 January 1997

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  • Introduced in House

    summary · EN · 7 January 1997

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Sponsors

Related records

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Sources

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