To amend the National Flood Insurance Act of 1968 to provide for the phase-in of actuarial rates for certain pre-FIRM properties.

1/23/2008--Passed House amended. Amends the National Flood Insurance Act of 1968 (Act) to provide for phased-in actuarial premium rates for recently purchased pre-FIRM single family properties used as a principal residence and purchased for at least $600,000. (A pre-FIRM structure is one that was not constructed or substantially improved after the later of:
(1) December 31, 1974; or
(2) the effective date of the initial rate map published by the Director of the Federal Emergency Management Agency (FEMA) under the National Flood Insurance Act of 1968 for the area in which such structure is located.)
Declares January 1, 2011, the effective date of this Act.
Sets forth transition provisions under which the Director of the Federal Emergency Management Agency (FEMA) is instructed to increase annually the chargeable premium rates for certain properties covered under the national flood insurance program if those rates are less than the applicable estimated risk premium rates.


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Sponsor

• Rep. Scott Garrett [R, NJ-5]
• and 1 Co-Sponsors
  • Rep. Barney Frank [D, MA-4]
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Committees

• House Financial Services
• 1 more
  • Senate Banking, Housing, and Urban Affairs
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Amendments

This bill has no amendments.

Amendments to H.R.3959

Number	Status	Purpose

Bill Status

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Introduced		Voted on by House		Voted on by Senate		Considered By President		Bill Becomes Law
October 24, 2007		January 23, 2008

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All Bill Actions

• Jan 24, 2008: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
• Passed by voice vote in the House on Jan 23, 2008. On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
• Jan 23, 2008: DEBATE - The House proceeded with forty minutes of debate on H.R. 3959.
• Jan 23, 2008: Mr. Frank (MA) moved to suspend the rules and pass the bill, as amended.
• Jan 23, 2008: Considered under suspension of the rules.
• Jan 16, 2008: Reported (Amended) by the Committee on Financial Services. H. Rept. 110-510.
• Added to calendar on Jan 16, 2008: Placed on the Union Calendar, Calendar No. 311..
• Oct 31, 2007: Committee Consideration and Mark-up Session Held.
• Added to calendar on Oct 31, 2007: Ordered to be Reported (Amended) by Voice Vote..
• Introduced on Oct 24, 2007.
• Oct 24, 2007: Referred to the House Committee on Financial Services.

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Related Issue Areas:

• Emergency management
• Disaster insurance
• Finance
• Floods
• 3 more
• Housing
• Insurance premiums
• Single family housing

Data from the Congressional Research Service

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In the News

January 24, 2008 House Passes Flood Insurance Reform Bill

The House of Representatives passed HR 3959, sponsored by Financial Services Committee Chairman, Barney Frank (D-Mass.), and Rep. Scott Garrett (RN. ...

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Source: Insurance Journal, CA

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July 25, 2008 This is not FFF, this is FFFF. : Free Finger Food

H R 3959… 3SU6ot1 | Asclepias Fruticosa … http://h.vibucbip.com/hk on November 28th, 2008 2:54 am. Recipes For Scallop Seviche… NWuBRt1 | Microfracture Contusion … http://k.vibucbip.com/of on November 28th, 2008 2:56 am ...

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June 13, 2008 H.R. 3959

H.R. 3959. To amend the National Flood Insurance Act of 1968 to provide for the. phase-in of actuarial rates for certain pre-FIRM properties. As ordered reported by the House Committee on Financial Services. on October 31, 2007 ...

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January 28, 2008 Weekly Reader Picks: Monday, January 28, 2008

Jan 24, 2008 -- The House of Representatives passed HR 3959, sponsored by Financial Services Committee Chairman, Barney Frank (D-Mass.), and Rep. Scott Garrett (RN.J.), legislation that would gradually phase-out some of the subsidies in ...

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Source: Insurance life

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