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United States · Bill · HR

H.R. 8616 (116th)

Build for Future Disasters Act of 2020

referredUnited States· United States Congress· EN

Introduced

16 October 2020

Last action

16 October 2020 · Introduced

Status

Referred to the House Committee on Financial Services.

Sponsors

Rep. Peters, Scott H. [D-CA-50], Rep. Barr, Andy [R-KY-6]

Subjects

Discovery layer

Source updated

3 January 2025

Summary

Build for Future Disasters Act of 2020 This bill eliminates certain National Flood Insurance Program (NFIP) rate subsidies for newly constructed property. Specifically, the chargeable rate for NFIP coverage of newly constructed property and any substantial improvements of property started on or after January 1, 2025, must not be not less than the estimated risk premium rate. The Government Accountability Office must report on the feasibility and effects of (1) eliminating by January 1, 2027, all subsidies that reduce premiums for NFIP coverage to amounts below those necessary to operate to program without a deficit, and (2) prohibiting these subsidies unless flood mitigation activities have been completed on a property.

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

Timeline

  1. 16 October 2020

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 16 October 2020

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 16 October 2020

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 16 October 2020

    ViewDownloadOpen at official source

  • Introduced in House (PDF)

    Introduced in House · EN · 16 October 2020

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 16 October 2020

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Sponsors

Related records

Sources

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