Natural Disaster Risk Reinsurance Program Act of 2023

Summary

Natural Disaster Risk Reinsurance Program Act of 2023 This bill establishes the Natural Disaster Risk Reinsurance Program within the Department of the Treasury. States may voluntarily participate in the program. The program provides payments to states for damages from a natural disaster not covered by the National Flood Insurance Program for amounts in excess of trigger amounts. These trigger amounts are calculated by the National Academy of Sciences. States must present a plan that ensures the coverage of losses by insurers not exceeding the trigger amount. States must also pledge to repay the full amount provided by the program within 10 years.

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Timeline

1. 18 May 2023

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 18 May 2023

   Introduced

   Introduced in House

   Source: IntroReferral

3. 18 May 2023

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

• Introduced in House · 18 May 2023 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 18 May 2023

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 18 May 2023

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 18 May 2023

  Open at official source

Sponsors

• Rep. Moskowitz, Jared [D-FL-23] · D · Sponsor
• · hsba00 · Standing

Related records

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