To require the use of replacement cost value in determining the premium rates for flood insurance coverage under the National Flood Insurance Act, and for other purposes.
Summary
This bill directs the Federal Emergency Management Agency (FEMA) to incorporate the replacement cost value of a structure insured under the National Flood Insurance Program of 1968 in its consideration of chargeable premium rates. FEMA must conduct a study regarding risk rating redesign utilizing replacement cost and report the findings to Congress.
Bill status
in committee
1 of 4 stages cleared
Introduction
Mar 2023
Committee Review
Floor Vote
President
Introduced Mar 1, 2023
Last action Mar 1, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Mar 1, 2023
Committee
Referred to the House Committee on Financial Services.
lower
Mar 1, 2023
Introduced
Introduced in House
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Blaine Luetkemeyer
RRepublican
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