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Increased Flood Risk Transparency for Buyers of HUD-Owned Homes.

This law enhances protection for individuals buying homes acquired by HUD located in flood hazard areas. Sellers must now disclose the estimated monthly cost of flood insurance and whether the property has a history of severe, repeated flood damage. This allows citizens to better assess the financial risks and safety associated with the purchase before committing.
Key points
Mandatory disclosure of the estimated monthly flood insurance cost for HUD-owned homes located in high-risk flood zones.
Requirement to inform buyers if the home is classified as a 'severe repetitive loss property' due to flooding.
The changes apply to 1-to-4 unit residential properties acquired by the Department of Housing and Urban Development (HUD) through foreclosure.
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Expired
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Additional Information
Print number: 118_S_3649
Sponsor: Sen. Rubio, Marco [R-FL]
Process start date: 2024-01-24
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
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_S_3649.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-01-24.

What are the main provisions?

Key points include:

  • Mandatory disclosure of the estimated monthly flood insurance cost for HUD-owned homes located in high-risk flood zones.
  • Requirement to inform buyers if the home is classified as a 'severe repetitive loss property' due to flooding.
  • The changes apply to 1-to-4 unit residential properties acquired by the Department of Housing and Urban Development (HUD) through foreclosure.
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. Rubio, Marco [R-FL].

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 2025-12-26.

CATEGORIES

Real Estate Environment