HOME Act of 2014
Latest action · Jan 21, 2014 Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 17, 2014
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Helping Owners Mitigate Effectively Act of 2014 or the HOME Act of 2014 - Delays any change in risk premium rates for flood insurance under the National Flood Insurance Program resulting from amendments made by the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters Act) until five years after the enactment date of such Act.
Amends the National Flood Insurance Act of 1968 to provide that the maximum annual chargeable flood insurance premium rate for a property shall be the appraised value of the property when purchased by its current owner divided by 30.
Amends the Internal Revenue Code to allow a tax credit of up to $7,500 for flood mitigation expenses in a taxable year for policy holders of flood insurance coverage and small businesses. Terminates such credit after December 31, 2022
Amends the Biggert-Waters Act to authorize the Administrator of the Federal Emergency Management Agency (FEMA) to use any other amounts available to the Administrator to carry out the the study of participation in the National Flood Insurance Program and of the affordability of risk-based premiums under such Program.
Amends the Robert T. Stafford Disaster Relief and Emergency Assistance Act to authorize increased appropriations for predisaster hazard mitigation for FY2014-FY2018. Authorizes appropriations for flood risk mitigation assistance for FY2014-FY2018.
Cosponsors 5
Members who signed on, in the order they did. All signed on May 19, 2014.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-FL | Alcee L. Hastings | May 19, 2014 | |
| D-FL | Frederica S. Wilson | May 19, 2014 | |
| D-FL | Lois Frankel | May 19, 2014 | |
| D-FL | Patrick Murphy | May 19, 2014 | |
| D-FL | Theodore E. Deutch | May 19, 2014 |
Actions 3
Everything that happened, newest first.
- Jan 21, 2014Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
- Jan 17, 2014Introduced in House
- Jan 17, 2014Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1268 | Flood Mitigation Expense Relief Act of 2013 | Related bill | Mar 22, 2013 |
Subjects
Assigned by the Library of Congress. Policy area: Emergency Management.
Text 1
Each version as it was printed, newest first.
- Jan 17, 2014Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.