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Flood Insurance Relief: Lower Costs for Those in Need

This act aims to reduce flood insurance costs for lower-income individuals, families, and small businesses. It introduces a discount program to make insurance premiums more affordable and allows for monthly payments. This could significantly ease the financial burden on residents in flood-prone areas.
Key points
Flood insurance discount program for individuals and families with incomes up to 120% of the area median income.
Small businesses and non-profit organizations may also receive assistance if they meet hardship criteria.
Monthly premium payments are to become available, making budget management easier for households.
The government allocates $250 million annually to support this program, ensuring its operation.
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Expired
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Additional Information
Print number: 117_HR_7202
Sponsor: Rep. Cartwright, Matt [D-PA-8]
Process start date: 2022-03-24
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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

National Flood Insurance Program Affordability Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7202.

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 2022-03-24.

What are the main provisions?

Key points include:

  • Flood insurance discount program for individuals and families with incomes up to 120% of the area median income.
  • Small businesses and non-profit organizations may also receive assistance if they meet hardship criteria.
  • Monthly premium payments are to become available, making budget management easier for households.
  • The government allocates $250 million annually to support this program, ensuring its operation.
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. Cartwright, Matt [D-PA-8].

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

Benefits Real Estate