Homeowner Flood Insurance Affordability Act of 2014 information
U.S. Law
Homeowner Flood Insurance Affordability Act of 2014
Long title
To delay the implementation of certain provisions of the Biggert–Waters Flood Insurance Reform Act of 2012 and to reform the National Association of Registered Agents and Brokers, and for other purposes.
Announced in
the 113th United States Congress
Sponsored by
Sen. Robert Menendez (D, NJ)
Number of co-sponsors
3
Codification
Acts affected
Gramm-Leach-Bliley Act, National Flood Insurance Act of 1968, Biggert–Waters Flood Insurance Reform Act of 2012, and others.
United States Congress, United States Senate, Executive Office of the President, United States Department of Justice, Federal Bureau of Investigation, United States Department of the Treasury, Federal Emergency Management Agency
Authorizations of appropriations
an unlimited amount
Legislative history
Introduced in the Senate as S. 1926 by Sen. Robert Menendez (D, NJ) on January 14, 2014
Passed the Senate on January 30, 2014 (Roll Call Vote 19: 67–32)
The Homeowner Flood Insurance Affordability Act of 2014 (S. 1926) was a United States Congress bill that would have delayed the increases in flood insurance premiums that were part of the Biggert–Waters Flood Insurance Reform Act of 2012.[1][2] The reforms from that law were meant to require flood insurance premiums to actually reflect the real risk of flooding, which led to an increase in premiums.[3] At the time of the bill, the National Flood Insurance Program was $24 billion in debt.[3]
The bill passed in the United States Senate during the 113th United States Congress, but was superseded by a similar bill which had originated in the United States House of Representatives. That bill ultimately became law as the Homeowner Flood Insurance Affordability Act of 2013.[4]
^Ferraro, Thomas (30 January 2014). "U.S. Senate passes bill to delay hikes in flood insurance rates". Reuters. Retrieved 31 January 2014.
^"S. 1926 – Summary". United States Congress. 31 January 2014. Retrieved 31 January 2014.
^ abCite error: The named reference TPuhlenbrock was invoked but never defined (see the help page).
^Kasperowicz, Pete (4 March 2014). "House retreats from 2012 flood reforms". The Hill. Retrieved 6 March 2014.
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