Gov't Affairs, Govt - Nation

President Signs Flood Insurance Bill

On Friday, March 21 President Obama signed the “Homeowner Flood Insurance Affordability Act” into law. This law repeals FEMA’s authority to increase premium rates at time of sale or new flood map, and refunds the excessive premium to those who bought a property before FEMA warned them of the rate increase. The bill makes the… Continue reading President Signs Flood Insurance Bill

Gov't Affairs, Govt - Nation

House Passes Flood Insurance With Amendments

On March 4, 2014, the House voted 306-91 to approve the Homeowner Flood Insurance Affordability Act (H.R. 3370) with amendments. The House amendments further reign in and hold the Federal Emergency Management Agency (FEMA) accountable for the Biggert-Waters implementation issues. As passed, the bill would repeal FEMA’s authority to increase premium rates at time of… Continue reading House Passes Flood Insurance With Amendments

Gov't Affairs, Govt - National Assoc. of Realtors® (NAR)

NAR Supports Bill to Delay Changes in Flood Insurance

On Oct. 29, 2013, Senators Robert Menendez and Johnny Isakson introduced the NAR-supported “Homeowner Flood Insurance Affordability Act” (S. 1610), to delay unintended rate increases under the Biggert-Waters law and its implementation. Congress passed the Biggert-Waters Flood Insurance Reform Act in 2012. It required the Federal Emergency Management Agency (FEMA), and other agencies, to make… Continue reading NAR Supports Bill to Delay Changes in Flood Insurance

Gov't Affairs, Govt - National Assoc. of Realtors® (NAR), Govt - Northeastern Colorado, Govt - State of Colorado

NAR’s Concerns about Flood Insurance Program

NAR continues to press for a delay of flood insurance rate increases. A Presidential Advisory Group was convened to investigate the rate increases, find solutions and reevaluate NAR policy based on the findings.  The PAG spent several days meeting with key experts and deliberating and has produced a report consisting of 40 recommendations to provide… Continue reading NAR’s Concerns about Flood Insurance Program