Flood Insurance Reform and Modernization Act of 2006

Summary

Flood Insurance Reform and Modernization Act of 2006 - Instructs the Comptroller General to study and report to Congress on: (1) the status of the national flood insurance program for specified pre-FIRM properties; (2) the extension of mandatory flood insurance coverage purchase requirements to properties located in any area that would be designated as having special flood hazards but for the existence of a structural flood protection system; and (3) the mandatory purchase requirement in connection with non-federally related loans. Amends the National Flood Insurance Act of 1968 to include nonresidential properties and non-primary residences within the guidelines for actuarial rate properties. Amends the Flood Disaster Protection Act of 1973 to increase civil monetary penalties. Amends the National Flood Insurance Act of 1968 to: (1) increase flood insurance coverage for residential property; (2) provide coverage for necessary increases in living expenses, basement improvements, business interruption, and replacement cost of contents; and (3) increase borrowing authority for the flood insurance program. Requires the Federal Emergency Management Agency (FEMA), upon request, to participate in state disaster claims mediation programs. Extends funding through FY2011 for the pilot program for mitigation of severe repetitive loss properties. Amends the Real Estate Settlement Procedures Act of 1974 to require good faith estimates to state that flood insurance coverage for residential real estate is generally available, whether or not the real estate is located in an area having special flood hazards. Instructs the FEMA Director to: (1) establish a decisions appeals process for flood insurance policyholders; (2) establish a program to review, update, and maintain flood insurance program maps; (3) maintain a national levee inventory; and (4) clarify the applicability of replacement cost coverage. Reestablishes the Technical Mapping Advisory Council.

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Documents

11 official files

• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN · 28 June 2006

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• Placed on Calendar Senate (PDF)

  Placed on Calendar Senate · EN · 28 June 2006

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• Engrossed in House (text)

  Engrossed in House · EN · 27 June 2006

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• Engrossed in House (PDF)

  Engrossed in House · EN · 27 June 2006

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• Passed House amended

  summary · EN · 27 June 2006

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• Reported in House (text)

  Reported in House · EN · 6 April 2006

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• Reported in House (PDF)

  Reported in House · EN · 6 April 2006

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• Reported to House without amendment

  summary · EN · 6 April 2006

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• Introduced in House (text)

  Introduced in House · EN · 16 March 2006

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• Introduced in House (PDF)

  Introduced in House · EN · 16 March 2006

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• Introduced in House

  summary · EN · 16 March 2006

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