118th Congress · HOUSE BILLBILL

H.R. 1309 — 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.

“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.”

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 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.

Provisions · 1 sectionsIntroduced in House

Timeline · 2 actions

Mar 1, 2023

Introduced in House

Mar 1, 2023

Referred to the House Committee on Financial Services.