H.R. 1267 · 113th Congress
Flood Insurance Premium Relief Act of 2013
- Stage
- In committee
- Sponsor
- Steven Palazzo
- Introduced
- 2013-03-19
- Latest action
- 2013-03-19 · Introduced in House
Summary
Flood Insurance Premium Relief Act of 2013 - States that the flood insurance risk premium rate for property purchased between July 6, 2012, and January 1, 2015, shall, during the 12-month period beginning upon such purchase, be the amount chargeable for such property immediately before its purchase (thus delaying implementation of the rate increase).
Requires phase-in of the rate increase, following expiration of such 12-month period, over a 10-year period, at 10% for each year.
Makes conforming amendments to the National Flood Insurance Act of 1968.