Community Flood Coverage Savings Act

HR 9414 creates a two-year pilot program allowing local governments to purchase a single, community-wide flood insurance policy under the National Flood Insurance Program. This policy would cover all residential properties in a participating community, meeting federal flood insurance requirements without requiring individual homeowners to buy separate policies. Communities must voluntarily join the pilot, partner with private insurers to share risk, and may use flood mitigation grant funds for implementation. The program aims to simplify coverage while preventing duplicate insurance claims, with FEMA establishing it within 360 days of enactment and ending after two years.