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Ending Flood Insurance Subsidies for New Construction

This act aims to eliminate flood insurance subsidies for newly constructed properties, which may affect the cost of building and buying homes in flood-prone areas. The changes are intended to encourage construction in safer locations and reduce the burden on taxpayers from flood claims.
Key points
Starting January 1, 2025, new constructions and substantially improved properties will no longer receive subsidized flood insurance rates.
Insurance costs for these properties will reflect the full flood risk, potentially leading to higher premiums.
The act seeks to discourage building in high-risk flood zones and reduce financial losses from floods.
A study will assess the feasibility of eliminating all flood insurance subsidies by 2027, unless flood mitigation activities are completed.
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Additional Information
Print number: 117_HR_2632
Sponsor: Rep. Peters, Scott H. [D-CA-52]
Process start date: 2021-04-16
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Build for Future Disasters Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2632.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-04-16.

What are the main provisions?

Key points include:

  • Starting January 1, 2025, new constructions and substantially improved properties will no longer receive subsidized flood insurance rates.
  • Insurance costs for these properties will reflect the full flood risk, potentially leading to higher premiums.
  • The act seeks to discourage building in high-risk flood zones and reduce financial losses from floods.
  • A study will assess the feasibility of eliminating all flood insurance subsidies by 2027, unless flood mitigation activities are completed.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Peters, Scott H. [D-CA-52].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

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