Flood Insurance Affordability Act
S 2852, the Flood Insurance Affordability Act, creates a 30-day grace period for flood insurance policyholders under the National Flood Insurance Program (NFIP) to avoid coverage lapses due to unpaid premiums after the bill's enactment. It requires FEMA to offer monthly premium payment options and prohibits additional fees for policyholders choosing monthly payments over annual ones. After the grace period ends, FEMA must recoup unpaid premiums through a cumulative monthly fee for those who opt for monthly payments. The bill directly affects all NFIP policyholders, making coverage more flexible while ensuring premium costs are eventually recovered.
Bill status
in committee
1 of 4 stages cleared
Introduction
Sep 2023
Committee Review
Floor Vote
President
Introduced Sep 19, 2023
Last action Sep 19, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Sep 19, 2023
Committee
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
upper
Sep 19, 2023
Introduced
Introduced in Senate
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Rick Scott
RRepublican
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