# 117-hr-7221: Increased Cost of Compliance Modernization Act of 2022

117-hr-7221, Increased Cost of Compliance Modernization Act of 2022, is a 117th Congress bill sponsored by Rep. Rice, Tom [R-SC-7] (R-SC); status Referred to the House Committee on Financial Services. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/117-hr-7221
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 117-hr-7221
- Congress: 117
- Title: Increased Cost of Compliance Modernization Act of 2022
- Status: Referred to the House Committee on Financial Services.
- Introduced: 2022-03-24
- Sponsor: Rep. Rice, Tom [R-SC-7] (R-SC)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Increased Cost of Compliance Modernization Act of 2022 This bill increases insurance coverage available to structures in high-risk flood areas under the National Flood Insurance Program (NFIP), commonly known as Increased Cost of Compliance (ICC) coverage. ICC coverage applies to costs related to flood mitigation requirements for repairs to, or the rebuilding of, flood-damaged structures with existing NFIP coverage. Currently, ICC coverage is capped at $30,000. The bill increases this amount to 20% of the maximum amount of flood insurance coverage (currently $50,000) with additional coverage available of up to 40% of the maximum amount of coverage (currently $100,000). The bill removes the cap on ICC premiums and requires the premium amount to be calculated pursuant to other NFIP rates. Additionally, ICC coverage does not count towards the cap on overall NFIP coverage. Finally, ICC policyholders are allowed to assign the rights or benefits of this coverage to a governmental agency to satisfy certain cost-sharing requirements applicable to mitigation assistance programs.

## Cosponsors (1)

- Rep. Gonzalez, Vicente [D-TX-34] (D-TX), 2022-03-24T00:00:00.000Z

## Related bills

- 117-hr-1448: PAWS for Veterans Therapy Act
- 117-hr-5142: To award posthumously a Congressional Gold Medal, in commemoration to the servicemembers who perished in Afghanistan on August 26, 2021, during the evacuation…
- 117-hr-310: To posthumously award the Congressional Gold Medal, collectively, to Glen Doherty, Tyrone Woods, J. Christopher Stevens, and Sean Smith, in recognition of thei…
- 117-hr-1842: Harriet Tubman Bicentennial Commemorative Coin Act
- 117-hr-1057: Greatest Generation Commemorative Coin Act
- 117-hres-1525: Condemning antisemitism by public figures.

## Sources
- [117-hr-7221 on Congress.gov](https://www.congress.gov/bill/117th-congress/house-bill/7221)

## Related
- [117-hr-1448: PAWS for Veterans Therapy Act](https://policyrisk.com/legislation/117-hr-1448)
- [117-hr-5142: To award posthumously a Congressional Gold Medal, in commemoration to the servi…](https://policyrisk.com/legislation/117-hr-5142)
- [117-hr-310: To posthumously award the Congressional Gold Medal, collectively, to Glen Doher…](https://policyrisk.com/legislation/117-hr-310)
- [117-hr-1842: Harriet Tubman Bicentennial Commemorative Coin Act](https://policyrisk.com/legislation/117-hr-1842)
- [117-hr-1057: Greatest Generation Commemorative Coin Act](https://policyrisk.com/legislation/117-hr-1057)
- [117-hres-1525: Condemning antisemitism by public figures.](https://policyrisk.com/legislation/117-hres-1525)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/117-hr-7221 (as of 2025-11-18).