Flood Insurance Legislation

This week, the U.S. Senate passed S. 1926, which would delay the implementation of certain provisions of the Biggert-Waters Flood Insurance Reform Act of 2012. This legislation would require that rate increases that began on certain properties starting last year would be rolled back and frozen until the Federal Emergency Management Agency complete an affordability study. The affordability study is expected to take roughly four years. The House has indicated that they will not take up the Senate bill but will introduce their own legislation to address the rate increases in Biggert-Waters.

For additional information on federal matters, please contact RCRC Senior Legislative Advocate Paul A. Smith at 916.447.4806 or psmith@rcrcnet.org.