Flood Protection Modernization Fairness Act of 2020

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8761 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 8761

   To reduce premiums under the National Flood Insurance Program for 
              certain properties, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                           November 17, 2020

Mr. Gianforte introduced the following bill; which was referred to the 
                    Committee on Financial Services

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                                 A BILL


 
   To reduce premiums under the National Flood Insurance Program for 
              certain properties, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Flood Protection Modernization 
Fairness Act of 2020''.

SEC. 2. FLOOD INSURANCE PREMIUM RATES FOR AREAS WITH SMALL FLOOD 
              CONTROL PROJECTS.

    Notwithstanding section 1308(e) of the National Flood Insurance Act 
of 1968 (42 U.S.C. 4015(e)) or any other provision of law, during the 
10-year period beginning on the date of the enactment of this Act, in 
the case of any property located in an area for which protection is to 
be provided by a project with respect to which a non-Federal interest 
has requested assistance pursuant to section 205 of the Flood Control 
Act of 1948 (33 U.S.C. 701s) but which has not been completed, the 
premium rate for flood insurance coverage made available under the 
National Flood Insurance Act of 1968 (42 U.S.C. 4001 et seq.) shall be 
the preferred risk premium rate for such property.
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