House Bill 2565
115th Congress(2017-2018)
To require the use of replacement cost value in determining the premium rates for flood insurance coverage under the National Flood Insurance Act, and for other purposes.
Introduced
Introduced in House on May 19, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2565
Congress
115
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
This bill amends the National Flood Insurance Act of 1968 to direct the Federal Emergency Management Agency (FEMA) to incorporate the replacement cost value of a structure insured under the National Flood Insurance Program of 1968 in its consideration of chargeable premium rates.
FEMA must conduct a study regarding risk rating redesign utilizing replacement cost and report the findings to Congress.
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07/14/2017
Placed on the Union Calendar, Calendar No. 156.
07/14/2017
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-221.
06/21/2017
Ordered to be Reported (Amended) by the Yeas and Nays: 34 - 25.
06/21/2017
Committee Consideration and Mark-up Session Held.
05/19/2017
Referred to the House Committee on Financial Services.
05/19/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:36:41 PM