H.R. 960: Flood Victim Premium Relief Act of 2013

Introduced:
Mar 05, 2013 (113th Congress, 2013–2015)
Sponsor:
Rep. Michael Grimm [R-NY11]
Status:
Referred to Committee

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was assigned to a congressional committee on March 5, 2013, which will consider it before possibly sending it on to the House or Senate as a whole.

Progress
Introduced Mar 05, 2013
Referred to Committee Mar 05, 2013
Reported by Committee ...
Passed House ...
Passed Senate ...
Signed by the President ...
Prognosis

24% chance of getting past committee.
5% chance of being enacted.

Only 11% of House bills made it past committee and only 3% were enacted in 2011–2013. [show factors | methodology]

Cosponsors
15 cosponsors (11D, 4R) (show)
Committees

House Financial Services

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the National Flood Insurance Act of 1968 to provide relief from increased flood insurance premium rates for homes in disaster areas.

Summary

No summaries available.

Text

Read Bill Text »

Last updated Mar 05, 2013.
4 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

3/5/2013--Introduced.
Flood Victim Premium Relief Act of 2013 - Amends the National Flood Insurance Act of 1968, with respect to adjustments to flood insurance premiums to reflect the current risk of flood, to limit premium rate increases on specified residential property in federally declared major disaster areas.
Requires premium rate increases or new premium rates on such properties which become effective after July 6, 2012, to be phased in over an 8-year period, at the rate of 5% for each of the first 4 years and 20% for each of the last 4s.
Defines such properties as those located within a major disaster area:
(1) for which revised or updated flood insurance rate maps become effective during the 2-year period beginning upon the occurrence of the disaster; or
(2) that upon enactment of this Act are eligible for preferred risk rate method premiums for flood insurance coverage, or that were eligible for them at any time during the 12-month period ending upon the occurrence of the disaster.
Requires such a property also to be:
(1) owned by the same owner who owned the property at the time of the disaster; and
(2) the owner's primary residence since the disaster (except for any periods of non-occupancy resulting from it).

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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