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Flood Insurance Surcharge Relief for Small Businesses and Nonprofits.

This act aims to exempt small businesses and nonprofit organizations from flood insurance surcharges. This allows them to use the saved funds for flood mitigation on their properties, enhancing their safety and resilience against natural disasters.
Key points
Small businesses and nonprofits owning at least three structures on a single property may be exempt from flood insurance surcharges.
The exemption requires a commitment to use the saved money for flood mitigation efforts on the property.
This change can reduce operating costs for eligible entities and encourage investment in flood safety.
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Expired
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Additional Information
Print number: 117_S_2704
Sponsor: Sen. Wicker, Roger F. [R-MS]
Process start date: 2021-08-10
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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

Small Business Surcharge Relief Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2704.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-08-10.

What are the main provisions?

Key points include:

  • Small businesses and nonprofits owning at least three structures on a single property may be exempt from flood insurance surcharges.
  • The exemption requires a commitment to use the saved money for flood mitigation efforts on the property.
  • This change can reduce operating costs for eligible entities and encourage investment in flood safety.
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 Sen. Wicker, Roger F. [R-MS].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Real Estate Economy