118th Congress · HOUSE BILLBILL

H.R. 1306 — Taxpayer Exposure Mitigation Act

“To provide for greater transfer of risk under the National Flood Insurance Program to private capital and reinsurance markets, and for other purposes.”

Finance and financial sector

Introduced Mar 1, 2023

Last action Mar 1, 2023

Pipeline · Bill → Law

Step 1

Introduced

Mar 1, 2023

Step 2

Referred

Mar 1, 2023

Financial Services

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill requires the Federal Emergency Management Agency (FEMA) to annually transfer a portion of the risk from the National Flood Insurance Program (NFIP) to private reinsurance or capital markets. The amount of transferred risk must be based on a probable maximum loss target for NFIP established by FEMA each fiscal year.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Mar 1, 2023

Introduced in House

Mar 1, 2023

Referred to the House Committee on Financial Services.