Flood Insurance Fairness Act: Freezing Rates
This act aims to freeze flood insurance rates under the National Flood Insurance Program. This means the Federal Emergency Management Agency (FEMA) cannot adjust these rates without Congressional approval. For citizens with flood insurance, this provides cost stability unless Congress decides otherwise.
Key points
FEMA cannot change flood insurance rates without a new act of Congress.
Current flood insurance rates are frozen, providing cost predictability for policyholders.
Expired
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