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Flood Insurance Pricing Transparency: Calculator and Mitigation Credits

New rules will increase transparency in flood insurance pricing, allowing citizens to better understand how premiums are calculated. This will make it easier to assess how preventive measures, such as elevating a home, can reduce insurance costs. It will help in making informed financial decisions regarding property protection.
Key points
All formulas used to calculate flood mitigation credits (e.g., flood openings, elevating property) will be made public within 60 days.
Within 90 days, an online tool will be launched allowing the public to estimate insurance premiums and see how specific protective actions will affect their cost.
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Expired
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Additional Information
Print number: 117_S_3829
Sponsor: Sen. Cassidy, Bill [R-LA]
Process start date: 2022-03-14
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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

Flood Insurance Pricing Transparency Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_3829.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-03-14.

What are the main provisions?

Key points include:

  • All formulas used to calculate flood mitigation credits (e.g., flood openings, elevating property) will be made public within 60 days.
  • Within 90 days, an online tool will be launched allowing the public to estimate insurance premiums and see how specific protective actions will affect their cost.
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. Cassidy, Bill [R-LA].

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 Benefits Economy