National Flood Insurance Program Amendatory Act

Summary

National Flood Insurance Program Amendatory Act - Amends the National Flood Insurance Act of 1968 to make additional flood insurance coverage available to every insured upon renewal and every applicant for insurance on certain residential properties. Requires the Secretary of Housing and Urban Development to enter into negotiations with the owners of real property located in flood-risk areas or covered by flood insurance under the Act whenever such property sustains specified damage of a substantial nature. Stipulates that the Secretary shall offer to pay as the purchase price the difference between the insurance proceeds and the fair market value of the property as of a date immediately prior to the identification of the area as a special flood hazard area. Authorizes the Secretary to make loans to the owners of certain damaged single-family dwellings for the purpose of elevating such dwellings when repair is deemed impossible or undesirable by reason of the structure's location within a regulatory floodway. Authorizer appropriations to carry out the purchase and loan programs established under this Act. Requires reimbursement of expenses incurred by owners or lessees of real property in connection with the services of surveyors or engineers or engineers in the effecting of a wholly or partly successful appeal of flood elevation determinations which adversely affect such property.

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1 official file

• Introduced in House

  summary · EN · 5 May 1977

  Open at official source

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