U.S. Congress - H.R.3959 To amend the National Flood Insurance Act of 1968 to provide for the phase-in of actuar...
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.
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- Official: To amend the National Flood Insurance Act of 1968 to provide for the phase-in of actuarial rates for certain pre-FIRM properties. as introduced.
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Official Summary
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 tOfficial Summary
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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Recent News Coverage
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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bill introduced: hr3959 to amend the national flood insurance act ...
to amend the national flood insurance act of 1968 to provide for the phase-in of actuarial rates for certain pre-firm properties. www.opencongress.org/bill/110-h3959/show.
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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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