Bill > HR6934

This bill, titled the "National Flood Insurance Program Affordability Act," establishes a new means-tested assistance program to help eligible policyholders of the National Flood Insurance Program (NFIP) afford their flood insurance premiums. The program, to be administered by the Federal Emergency Management Agency (FEMA) Administrator, will provide graduated discounts on insurance costs for primary residences and related personal property, ensuring that an eligible policyholder's premium does not exceed 1% of their area's median income. Eligibility is defined for individuals with household incomes up to 120% of the area median income, as well as small businesses and non-profit organizations that meet a specific hardship metric to be established by FEMA. The bill also mandates that FEMA implement monthly installment payments for NFIP premiums or explain why it cannot do so within 180 days of enactment, and it appropriates $250 million annually for the affordability program, requiring at least 95% of this amount to be spent each fiscal year.

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https://www.congress.gov/bill/119th-congress/house-bill/6934/all-info