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Flood Risk Transparency for Homebuyers: New Insurance Information.

New rules require the Department of Housing and Urban Development (HUD) to inform homebuyers about flood risks for properties it sells. You will receive an estimated flood insurance cost and learn if the property has experienced severe repetitive losses, helping you make an informed purchase decision.
Key points
Homebuyers of HUD-owned properties will receive an estimated monthly cost of flood insurance.
You will be informed if the property is in a special flood hazard area and if it's a severe repetitive loss property.
HUD will annually report to Congress on sold properties with flood insurance claims.
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Expired
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Additional Information
Print number: 118_HR_7310
Sponsor: Rep. Diaz-Balart, Mario [R-FL-26]
Process start date: 2024-02-09
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 Risk Transparency for Homebuyers Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_7310.

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 2024-02-09.

What are the main provisions?

Key points include:

  • Homebuyers of HUD-owned properties will receive an estimated monthly cost of flood insurance.
  • You will be informed if the property is in a special flood hazard area and if it's a severe repetitive loss property.
  • HUD will annually report to Congress on sold properties with flood insurance claims.
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. Diaz-Balart, Mario [R-FL-26].

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.

CATEGORIES

Real Estate Environment