To require the use of replacement cost value in determining the premium rates for flood insurance coverage under the National Flood Insurance Act, and for other purposes.

United States115th CongressHR-2565House of Representatives
Latest legislative activity: Jul 14, 2017

Summary

Official Summary

(Sec. 1) This bill directs the Federal Emergency Management Agency (FEMA) to incorporate the replacement cost value of a structure insured under the National Flood Insurance Program of 1968 in its consideration of chargeable premium rates.

FEMA must conduct a study regarding risk rating redesign utilizing replacement cost and report the findings to Congress.

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Timeline

  1. Ordered to be Reported (Amended) by the Yeas and Nays: 34 - 25.

    House of Representatives

  2. Committee Consideration and Mark-up Session Held.

    House of Representatives

  3. Placed on the Union Calendar, Calendar No. 156.

    House of Representatives

  4. Reported (Amended) by the Committee on Financial Services. H. Rept. 115-221.

    House of Representatives