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117-hr-7364117th Congress

Stop Flood Insurance Rate Hikes Act

Sponsored By: Representative Graves, Garret [R-LA-6]

Unknown

Summary

Stop Flood Insurance Rate Hikes Act This bill allows National Flood Insurance Program policyholders to elect to pay premiums at the rate in effect prior to the implementation of Risk Rating 2.0 and to receive refunds for previously paid premiums. Risk Rating 2.0 bases premium rates on an individual property's specific flood risk instead of the flood risk of a general location and property type. Policyholders may elect to pay the previous rate until the Federal Emergency Management Agency performs several actions regarding Risk Rating 2.0, including publishing all data and methods used to calculate premium rates under Risk Rating 2.0, creating an online database where policyholders can see premium rates for their property using specified calculations, and publishing an assessment of the economic, social, and environmental impacts of Risk Rating 2.0.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Graves, Garret [R-LA-6]

LA • R

Cosponsors

  • Rep. Pascrell, Bill, Jr. [D-NJ-9]

    NJ • D

    Sponsored 4/1/2022

  • Rep. Weber, Randy K. Sr. [R-TX-14]

    TX • R

    Sponsored 4/1/2022

  • Rep. Carter, Troy A. [D-LA-2]

    LA • D

    Sponsored 4/1/2022

  • Rep. Pallone, Frank [D-NJ-6]

    NJ • D

    Sponsored 4/1/2022

  • Rep. Rouzer, David [R-NC-7]

    NC • R

    Sponsored 4/1/2022

Roll Call Votes

No roll call votes available for this bill.

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