IN THE SENATE OF THE UNITED STATES
September 28, 2021
Mr. Rubio (for himself, Mr. Cassidy, Mrs. Hyde-Smith, and Mr. Cornyn) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To temporarily limit the authority of the Administrator of the Federal Emergency Management Agency to prescribe chargeable premium rates for flood insurance under the National Flood Insurance Program.
This Act may be cited as the
NFIP Risk Rating 2.0 Delay Act of 2021.
Premium rate freeze
Notwithstanding section 1308(a) of the National Flood Insurance Act of 1968 (42 U.S.C. 4015(a)), during the period beginning on the date of enactment of this Act and ending on September 30, 2022, the chargeable premium rates for flood insurance coverage under the National Flood Insurance Act of 1968 (42 U.S.C. 4001 et seq.), as in effect on the day before that date of enactment—
shall remain in effect; and
may not be adjusted by the Administrator of the Federal Emergency Management Agency.