Bill > HR5484

This bill is a comprehensive reauthorization and reform of the National Flood Insurance Program (NFIP) through 2030, addressing multiple aspects of flood insurance coverage, policy management, and policyholder protections. The bill extends the NFIP's authorization until September 30, 2030, and introduces significant changes across four key areas: reauthorization and affordability, mitigation and mapping, program solvency, and policyholder protection. Key provisions include capping annual premium increases at 9%, establishing a means-tested assistance program for low and moderate-income homeowners, creating new mitigation loan and revolving loan funds to help property owners reduce flood risks, improving flood mapping technologies, enhancing claim processing transparency, and establishing an Independent Office for Policyholder Appeals. The bill also requires more comprehensive flood risk disclosures during property transfers, provides additional protections for policyholders during the claims process, and creates an Agent Advisory Council to provide recommendations for improving the flood insurance program. These reforms aim to make flood insurance more affordable, accessible, and responsive to the needs of property owners in flood-prone areas while ensuring the long-term financial sustainability of the National Flood Insurance Program.

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https://www.congress.gov/bill/119th-congress/house-bill/5484/all-info