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S. 2172: Small Business Surcharge Relief Act

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jul 18, 2019.


Small Business Surcharge Relief Act

This bill partially exempts small businesses and nonprofit organizations from the Homeowner Flood Insurance Affordability Act (HFIAA) surcharge. The bill limits application of the HFIAA surcharge to two buildings on the same property, exempting additional buildings. The business or organization must certify that the savings will be used for flood mitigation on the property.