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United States · Bill · HR

H.R. 7643 (117th)

FAITH Act of 2022

referredUnited States· United States Congress· EN

Introduced

3 May 2022

Last action

3 May 2022 · Introduced

Status

Referred to the House Committee on Financial Services.

Sponsors

Rep. Crist, Charlie [D-FL-13], Rep. Demings, Val Butler [D-FL-10], Rep. Soto, Darren [D-FL-9], Rep. Lawson, Al, Jr. [D-FL-5]

Subjects

Discovery layer

Source updated

3 January 2025

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Summary

Fueling Affordable Insurance for Today's Homeowners Act of 2022 or the FAITH Act of 2022 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.

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

Timeline

  1. 3 May 2022

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 3 May 2022

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 3 May 2022

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 3 May 2022

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  • Introduced in House (PDF)

    Introduced in House · EN · 3 May 2022

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 3 May 2022

    Open at official source

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Sponsors

Related records

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Sources

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