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Ending Mandatory Flood Insurance for Commercial Properties

This bill aims to remove the mandatory flood insurance requirement for commercial properties in flood hazard areas. This means business owners will no longer be forced to purchase this insurance, potentially impacting their operating costs. It's important to note that voluntary insurance will still be available.
Key points
Commercial property owners will no longer be required to purchase flood insurance.
This change only applies to commercial properties; mandatory insurance for residential properties remains.
FEMA will continue to offer flood insurance for commercial properties, but purchasing it will be optional.
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Expired
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Additional Information
Print number: 117_HR_3414
Sponsor: Rep. Luetkemeyer, Blaine [R-MO-3]
Process start date: 2021-05-20
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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

To repeal the mandatory flood insurance coverage requirement for commercial properties located in flood hazard areas, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_3414.

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 2021-05-20.

What are the main provisions?

Key points include:

  • Commercial property owners will no longer be required to purchase flood insurance.
  • This change only applies to commercial properties; mandatory insurance for residential properties remains.
  • FEMA will continue to offer flood insurance for commercial properties, but purchasing it will be optional.
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. Luetkemeyer, Blaine [R-MO-3].

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 2025-12-28.

CATEGORIES

Real Estate Economy