Flood Insurance Rate Relief Mired In Congress
|By Josh Boatwright, Tampa Tribune, Fla.|
|McClatchy-Tribune Information Services|
With the House wrapping up business Friday and the
A group of senators, including Sen.
There was still hope that a similar bill introduced by Louisiana Rep.
"While this legislation will provide relief to many policyholders, it is only the first step in addressing the pending flood insurance rate increases for homeowners," Bilirakis said in a statement Thursday.
Bilirakis is among nearly 200 members of
The 2012 law, which began taking broad effect in October, removes so-called subsidies from older homes built before modern flood maps were drafted which have been paying rates that don't reflect their flood risk.
What has vexed lawmakers from both political parties who supported the reforms has been the dramatic and sometimes immediate premium hikes scores of homeowners across the country now face.
"We have to have this relief for our homeowners and for the real estate market," Nelson told fellow senators Wednesday.
By late Thursday, members of the House remained in discussion about a bipartisan budget deal and other issues, but flood insurance had yet to reach the floor.
Should a bill pass, the
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