US Congress House Bill 4313 (Prior Session Legislation)

---

Sponsorship: Bipartisan Bill
Status: Introduced on March 26 2014 - 25% progression, died in committee
Action: 2014-03-26 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Flood Insurance Premium Parity Act of 2014 - Amends the National Flood Insurance Act of 1968 (NFIA) to prohibit the Administrator of the Federal Emergency Management Administration (FEMA) from estimating reduced (subsidized) risk premium rates for flood insurance for residential property that is neither the primary residence of an individual (as under current law) nor the secondary residence of the property owner. Directs FEMA to establish standards for a residential property to qualify as a secondary residence eligible for subsidized risk flood insurance premium rates that: (1) require the owner to occupy the property for an appropriate minimum period of time each year, and (2) limit subsidized risk premium rates to but a single property of the owner. Repeals the prohibition against estimating subsidized risk premium rates for business property (thus qualifying business property for such rates). Directs FEMA to refund directly to insureds any flood insurance premiums collected in excess of the rates required under this Act.

Flood Insurance Premium Parity Act of 2014

Rep. David Jolly [R-FL]	Rep. Gus Bilirakis [R-FL]	Rep. Kathy Castor [D-FL]	Rep. Lois Frankel [D-FL]
Rep. Patrick Murphy [D-FL]

Date	Chamber	Action
2014-03-26	House	Referred to the House Committee on Financial Services.

HB3370 (Similar To) 2014-03-21 - Became Public Law No: 113-89.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/4313/all-info
Text	https://www.congress.gov/113/bills/hr4313/BILLS-113hr4313ih.pdf