H.R. 471 · 116th Congress
Taxpayer Exposure Mitigation Act
- Stage
- In committee
- Sponsor
- Blaine Luetkemeyer
- Introduced
- 2019-01-10
- Latest action
- 2019-01-10 · Introduced in House
Summary
Taxpayer Exposure Mitigation Act
This bill requires the Federal Emergency Management Agency (FEMA) to annually transfer a portion of the risk from the National Flood Insurance Program (NFIP) to private reinsurance or capital markets. The amount of transferred risk must be based on a probable maximum loss target for NFIP established by FEMA each fiscal year.