US Congress House Bill 1422 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Republican 17-5)
Status: Introduced on March 8 2017 - 25% progression, died in chamber
Action: 2017-07-14 - Placed on the Union Calendar, Calendar No. 155.
Text: Latest bill text (Introduced) [PDF]

Private Flood Insurance Market Development Act of 2017 This bill amends the Flood Disaster Protection Act of 1973 to revise requirements for federal and private flood insurance. The bill revises the financial requirements that apply to flood insurance for home loans or loan guarantees by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and other federal mortgage entities. Private flood insurance must meet any financial strength requirements set forth by the Federal Housing Finance Agency. Private flood insurance may include nonadmitted insurers (including surplus lines insurance) as long as the insurer is eligible to provide insurance in the home state of the insured and complies with the laws and regulations of that state. The National Flood Insurance Act of 1968 is amended to direct the Federal Emergency Management Agency (FEMA) to consider any period during which a property was continuously covered by private flood insurance to be a period of continuous insurance coverage, including for the purposes of National Flood Insurance Program subsidies.

Private Flood Insurance Market Development Act of 2017

Rep. Dennis Ross [R-FL]	Rep. Kathy Castor [D-FL]	Rep. Trey Hollingsworth [R-IN]	Rep. Alexander Mooney [R-WV]
Rep. Bill Posey [R-FL]	Rep. Barry Loudermilk [R-GA]	Rep. Steven Palazzo [R-MS]	Rep. Ron Kind [D-WI]
Rep. Thomas Rooney [R-FL]	Rep. Alcee Hastings [D-FL]	Rep. Todd Rokita [R-IN]	Rep. Mario Diaz-Balart [R-FL]
Rep. Gus Bilirakis [R-FL]	Sen. Ted Budd [R-NC]	Rep. Brian Fitzpatrick [R-PA]	Rep. Mike Coffman [R-CO]
Rep. Val Demings [D-FL]	Rep. Blaine Luetkemeyer [R-MO]	Rep. Jason Smith [R-MO]	Rep. James Himes [D-CT]
Rep. Roger Williams [R-TX]	Rep. James Renacci [R-OH]

Date	Chamber	Action
2017-07-14	House	Placed on the Union Calendar, Calendar No. 155.
2017-07-14	House	Reported (Amended) by the Committee on Financial Services. H. Rept. 115-220.
2017-06-21	House	Ordered to be Reported (Amended) by the Yeas and Nays: 58 - 0.
2017-06-21	House	Committee Consideration and Mark-up Session Held.
2017-03-08	House	Referred to the House Committee on Financial Services.
2017-03-08	House	Introduced in House

SB563 (Same As) 2017-05-04 - Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-16.
HB3823 (Related) 2017-09-29 - Became Public Law No: 115-63. (TXT | PDF)
HR538 (Similar To) 2017-09-27 - Motion to reconsider laid on the table Agreed to without objection.
HB2874 (Related) 2017-11-15 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/1422/all-info
Text	https://www.congress.gov/115/bills/hr1422/BILLS-115hr1422ih.pdf
Text	https://www.congress.gov/115/bills/hr1422/BILLS-115hr1422rh.pdf