Homeowner Flood Insurance Transparency and Protection Act

This bill allows National Flood Insurance Program (NFIP) policyholders to lock in their 2020 premium rates for the duration of the law's implementation period, directly affecting homeowners in flood-prone areas. It requires FEMA to publish all data and methods used in its Risk Rating 2.0 system, create an online tool for policyholders to compare rates under different scenarios, and conduct a 20-year impact assessment on affordability, property values, and government revenues. FEMA must also publish detailed county-level rate distributions showing how premiums would change under various assumptions, including the removal of rate caps. The law mandates these transparency measures before policyholders' locked-in rates expire, ensuring clearer information about how flood insurance costs are determined.