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Flood Insurance: New Premium Calculation Based on Replacement Cost

This bill aims to change how flood insurance premiums are calculated, by requiring them to include the cost of replacing a property. This means premiums might better reflect actual value, potentially affecting costs for homeowners in flood-prone areas. The changes will be phased in gradually over three years.
Key points
Flood insurance premiums will now consider the cost to rebuild a property, potentially changing premium amounts.
FEMA will conduct a study and present an implementation plan within 12 months.
New rules will be gradually introduced across different U.S. regions over three years after becoming effective.
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Status:
Expired
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Additional Information
To require the use of replacement cost value in determining the premium rates for flood insurance coverage under the National Flood Insurance Act, and for other purposes.
Print number: HR 1309
Sponsor: Rep. Luetkemeyer, Blaine [R-MO-3]
Process start date: 2023-03-01
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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Summary & Status

Key Questions about Flood Insurance: New Premium Calculation Based on Replacement Cost

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is HR 1309.

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 2023-03-01.

What are the main provisions?

Key points include:

  • Flood insurance premiums will now consider the cost to rebuild a property, potentially changing premium amounts.
  • FEMA will conduct a study and present an implementation plan within 12 months.
  • New rules will be gradually introduced across different U.S. regions over three years after becoming effective.

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 2025-12-24.

Analysis and Potential Impact of HR 1309

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

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