Flood Insurance Reform and Modernization Act of 2007

Summary

Flood Insurance Reform and Modernization Act of 2007 - Amends the National Flood Insurance Act of 1968 (Act) to extend the national flood insurance program (Program) through FY2013. Requires the Director of the Federal Emergency Management Agency (FEMA) to make national flood insurance available for multifamily properties. Revises requirements for: (1) escrow of flood insurance payments; (2) debt forgiveness with respect to FEMA funding of flood insurance claims resulting from the hurricanes of 2005; and (3) minimum deductibles for specified properties. Instructs the Director to establish in the Treasury a National Flood Insurance Reserve Fund. Prohibits FEMA from denying payment of certain flood insurance claims by condominium owners. Establishes the Technical Mapping Advisory Council. Requires FEMA and the heads of specified federal agencies to: (1) coordinate and share flood risk determination data and geospatial data; and (2) make an interagency budget crosscut report to Congress. Directs the National Academy of Public Administration to study and report to Congress on how FEMA can: (1) improve interagency coordination on flood mapping; and (2) establish joint funding mechanisms with other governmental agencies. States that any area located within the 500-year flood plain is not subject to certain mandatory purchase requirements of the Flood Disaster Protection Act of 1973. Provides for: (1) permissible testing of new flood proofing technology; and (2) mandatory participation of FEMA representatives in state disaster claims mediation programs. Instructs FEMA to continue to implement minimum training and education standards for insurance agents who sell flood insurance policies. Authorizes FEMA to to make expense reimbursements to certain private sector companies that have paid claims. Extends the pilot program for mitigation of severe repetitive loss properties. Establishes the Office of the Flood Insurance Advocate to assist insureds resolve problems with FEMA.

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

Timeline

1. 1 November 2007

   Calendars

   Placed on Senate Legislative Calendar under General Orders. Calendar No. 460.

   Source: Calendars

2. 1 November 2007

   Reported

   Committee on Banking, Housing, and Urban Affairs. Original measure reported to Senate by Senator Dodd. With written report No. 110-214.

   Source: Committee

3. 1 November 2007

   Reported

   Committee on Banking, Housing, and Urban Affairs. Original measure reported to Senate by Senator Dodd. With written report No. 110-214.

   Source: Committee

4. 1 November 2007

   Introduced

   Introduced in Senate

   Source: IntroReferral

5. 2 May 2008

   Floor

   Motion to proceed to consideration of measure made in Senate. (consideration: CR S3742)

   Source: Floor

6. 6 May 2008

   Vote

   Cloture on the motion to proceed to the measure invoked in Senate by Yea-Nay Vote. 90 - 1. Record Vote Number: 116. (consideration: CR S3779-3784; text: CR S3779)

   Source: Floor

7. 7 May 2008

   Floor

   Motion to proceed to measure considered in Senate by Unanimous Consent. (consideration: CR S3844-3884)

   Source: Floor

8. 8 May 2008

   Floor

   Considered by Senate. (consideration: CR S3946-3966)

   Source: Floor

9. 13 May 2008

   Floor

   Considered by Senate. (consideration: CR S4048-4050, S4051-4061)

   Source: Floor

Votes

Versions

• Placed on Calendar Senate · 1 November 2007 · Official file

Documents

4 official files

• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN · 1 November 2007

  ViewDownloadOpen at official source

• Placed on Calendar Senate (PDF)

  Placed on Calendar Senate · EN · 1 November 2007

  ViewDownloadOpen at official source

• Reported to Senate without amendment

  summary · EN · 1 November 2007

  Open at official source

• Introduced in Senate

  summary · EN · 1 November 2007

  Open at official source

Sponsors

• Rep. Dodd, Christopher J. [D-CT-2] · D · Sponsor
• · ssbk00 · Standing

Related records

• related to → Flood Insurance Reform and Modernization Act of 2007