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Flood Insurance Discounts for Low-Income, Small Businesses, and Non-Profits

This act aims to reduce flood insurance costs for lower-income individuals, small businesses, and non-profit organizations. It establishes a discount program to ensure premiums do not exceed 1% of the area's median income. Additionally, the act seeks to facilitate monthly premium payments.
Key points
Flood insurance discount program for households with income up to 120% of the area median income.
Financial assistance for small businesses (up to 100 employees) and non-profit organizations meeting hardship criteria.
Implementation of monthly installment payments for flood insurance premiums to ease financial burden.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HR_1540
Sponsor: Rep. Cartwright, Matt [D-PA-8]
Process start date: 2023-03-10
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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

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 118_HR_1540.

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 2023-03-10.

What are the main provisions?

Key points include:

  • Flood insurance discount program for households with income up to 120% of the area median income.
  • Financial assistance for small businesses (up to 100 employees) and non-profit organizations meeting hardship criteria.
  • Implementation of monthly installment payments for flood insurance premiums to ease financial burden.
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 2025-12-24.

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