Sen. Marco Rubio (R-FL) News Release
"Flood insurance is a necessity in
Specifically, the NFIP Re Act of 2021 would:
* Provide certainty for policyholders by reauthorizing the NFIP for five years;
* Protect policyholders from Risk Rating 2.0 rate shocks and other disruptions by capping annual premium increases at 9 percent;
* Put NFIP on track to fiscal sustainability by freezing interest payments on NFIP debt and reinvesting savings toward mitigation;
* Create affordability for low- and middle-income policyholders through a comprehensive, means-tested voucher program;
* Increase investment in cost-effective mitigation efforts;
* Improve funding for more accurate mapping, in order to generate better data for flood risk; and
* Reform the appeals process to level the playing field for policyholders during appeal or litigation processes.
Go to: https://www.menendez.senate.gov/newsroom/press/menendez-cassidy-introduce-bicameral-bipartisan-bill-to-reform-national-flood-insurance-program for a full list of quotes from cosponsors.
A section-by-section of the legislation can be found here https://www.rubio.senate.gov/public/_cache/files/d352d392-7c18-49e9-bf1b-4656e4c91067/94AD9F0DF16A635D2C812EF7B8E8539E.nfip-section-by-section.pdf, and a copy of the bill text can be found here https://www.rubio.senate.gov/public/_cache/files/89ac8cd0-bd9c-48e4-b096-e8deee190d55/493E27356613F5BAA70AF837E924AD2B.nfip-bill-text.pdf.
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Read this original document at: https://www.rubio.senate.gov/public/index.cfm/press-releases?ID=436FBD05-9174-4758-8DD6-0414448671EE
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