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United States · Bill · S

S. 3829 (117th)

Flood Insurance Pricing Transparency Act

referredUnited States· United States Congress· EN

Introduced

14 March 2022

Last action

Status

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

Subjects

Discovery layer

Source updated

14 January 2025

Summary

Flood Insurance Pricing Transparency Act This bill directs the Federal Emergency Management Agency (FEMA) to publish all formulas used by FEMA to calculate mitigation credits available to properties insured under the National Flood Insurance Program (NFIP). (Under current NFIP rating methodology, individuals can receive premium credits for mitigation activity on their property such as installing flood openings, elevating the structure, and elevating machinery and equipment above the lowest floor.) FEMA must also develop a publicly available tool that estimates NFIP premium rates based on user inputs, including the change in rates as a result of mitigation activities.

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3 official files

Introduced in Senate (text)

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