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Flood Insurance Payment Relief: Grace Period and No Monthly Fees.

This act establishes a temporary grace period for flood insurance premium payments until a monthly payment option is available. Once monthly payments are an option, unpaid premiums will be recouped through extra monthly fees. Crucially, no additional fees will be charged for choosing monthly payments over annual ones.
Key points
Flood insurance policyholders will remain covered even if they don't pay premiums, until a monthly payment option is implemented.
Unpaid premiums from the grace period will be recovered through additional monthly fees once the monthly payment option is active.
No extra fees will be applied for choosing to pay flood insurance premiums on a monthly basis.
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Expired
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Additional Information
Print number: 118_HR_4686
Sponsor: Rep. Luna, Anna Paulina [R-FL-13]
Process start date: 2023-07-17
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Flood Insurance Affordability Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_4686.

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 2023-07-17.

What are the main provisions?

Key points include:

  • Flood insurance policyholders will remain covered even if they don't pay premiums, until a monthly payment option is implemented.
  • Unpaid premiums from the grace period will be recovered through additional monthly fees once the monthly payment option is active.
  • No extra fees will be applied for choosing to pay flood insurance premiums on a monthly basis.
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. Luna, Anna Paulina [R-FL-13].

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 2025-12-25.

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