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S. 2869 (117th): NFIP Risk Rating 2.0 Delay Act of 2021

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The text of the bill below is as of Sep 28, 2021 (Introduced). The bill was not enacted into law.

II

117th CONGRESS

1st Session

S. 2869

IN THE SENATE OF THE UNITED STATES

September 28, 2021

(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

A BILL

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.

1.

Short title

This Act may be cited as the NFIP Risk Rating 2.0 Delay Act of 2021.

2.

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—

(1)

shall remain in effect; and

(2)

may not be adjusted by the Administrator of the Federal Emergency Management Agency.