Flood Insurance Fairness Act

Flood Insurance Fairness Act

This bill prohibits the Federal Emergency Management Agency (FEMA) from adjusting the premium rate of flood insurance issued under the National Flood Insurance Program. Under current law, FEMA has statutory authority to set premium rates subject to certain limitations on annual increases.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4226 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 4226

 To restrict the ability of the Administrator of the Federal Emergency 
  Management Agency to adjust the rates for flood insurance coverage 
  under the National Flood Insurance Program, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 29, 2021

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

_______________________________________________________________________

                                 A BILL


 
 To restrict the ability of the Administrator of the Federal Emergency 
  Management Agency to adjust the rates for flood insurance coverage 
  under the National Flood Insurance Program, 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 Insurance Fairness Act''.

SEC. 2. CHARGEABLE PREMIUM RATES.

    Notwithstanding any other provision of law, including section 1308 
of the National Flood Insurance Act of 1968 (42 U.S.C. 4015), with 
respect to the chargeable premium rates described in subsection (a)(1) 
of that section, as in effect on the date of enactment of this Act, the 
Administrator of the Federal Emergency Management Agency may not adjust 
those rates unless a duly enacted law of the United States enacted 
after the date of enactment of this Act provides the Administrator with 
that authority.
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