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H.R. 1540

BillFederalHouseIn Committee
To establish a means-tested assistance program for national flood insurance program policyholders, and for other purposes.
About This Bill
Committee
Latest Action · March 10, 2023
Referred to the House Committee on Financial Services.
Congress
118th (2023–2025)
Introduced
March 10, 2023
Cosponsors (2)
2D 0R
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Summary

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National Flood Insurance Program Affordability Act This bill requires the Federal Emergency Management Agency to provide discounts on National Flood Insurance Program coverage to low-income households, small businesses, and not-for-profit entities. Specifically, the chargeable premium rate for an eligible primary residential dwelling and related personal property must not exceed 1% of the median income of the area in which the property is located.

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