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H.R. 2874: 21st Century Flood Reform Act

CBO Score

$129 million

Date of Report

Tue November 14th, 2017

CBO Report Details

Legislation Details

115th Congress

To achieve reforms to improve the financial stability of the National Flood Insurance Program, to enhance the development of more accurate estimates of flood risk through new technology and better maps, to increase the role of private markets in the management of flood insurance risks, and to provide for alternative methods to insure against flood peril, and for other purposes.

Sponsor: Rep. Sean Duffy — R — WI

This bill amends the National Flood Insurance Act of 1968 to extend the National Flood Insurance Program (NFIP) through FY2022. (Sec. 102) The bill changes annual minimums and limits on premium increases for specified policies subsidized through NFIP to: (1) increase the minimum from 5% to 5.5% for the second year after enactment, (2) increase the minimum from 5% to 6% for the third year, (3) increase ...

View the full vote history of this bill on GovTrack.us.

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