H.R. 1540 · 118th Congress
National Flood Insurance Program Affordability Act
- Stage
- In committee
- Sponsor
- Matt Cartwright
- Introduced
- 2023-03-10
- Latest action
- 2023-03-10 · Introduced in House
Summary
National Flood Insurance Program Affordability Act
This bill requires the Federal Emergency Management Agency to provide discounts on National Flood Insurance Program coverage to low-income households, small businesses, and not-for-profit entities. Specifically, the chargeable premium rate for an eligible primary residential dwelling and related personal property must not exceed 1% of the median income of the area in which the property is located.