US Congress Senate Bill 487 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 12 2015 - 25% progression, died in committee
Action: 2015-02-12 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S986)
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Fire-Damaged Home Rebuilding Act of 2015 Amends the National Flood Insurance Act of 1968 to allow local variances for certain residential structures substantially damaged by a fire or other disaster, not including a flood, in a covered area having special flood hazards. Permits state or local authorities, upon making certain determinations, to grant a variance from compliance with certain mandatory adequate land use and control measures to allow repair and restoration of an eligible structure to its pre-damaged condition without elevation of the structure. Includes among such determinations that: (1) the repaired and restored structure will be located on the same site as it was before being substantially damaged, and (2) the number of floors of the restored structure will not exceed the number of floors of the original structure. Restricts the maximum number of such variances to 10 for a covered area during any calendar year. Prohibits the Administrator of the Federal Emergency Management Agency (FEMA) from either: (1) finding that land use and control measures are inadequate or inconsistent with the comprehensive criteria for land management and use because they permit granting the variances identified under this Act; or (2) suspending an area or subdivision from participation in the national flood insurance program, or placing it on probation, because its land use and control measures provide for such variances. Prohibits the chargeable flood insurance premium rate for a residential structure granted a variance under this Act from being lower than the rate that otherwise would apply if such structure had not been substantially damaged by a fire or other disaster (except a flood) and repaired and restored pursuant to the variance.

Fire-Damaged Home Rebuilding Act of 2015

Sen. Dianne Feinstein [D-CA]

Date	Chamber	Action
2015-02-12	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S986)

HB947 (Same As) 2015-02-12 - Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/487/all-info
Text	https://www.congress.gov/114/bills/s487/BILLS-114s487is.pdf