Flood Insurance Premium Parity Act of 2014
Latest action · Mar 26, 2014 Referred to the House Committee on Financial Services.
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.
- IntroducedMar 26, 2014
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Flood Insurance Premium Parity Act of 2014 - Amends the National Flood Insurance Act of 1968 (NFIA) to prohibit the Administrator of the Federal Emergency Management Administration (FEMA) from estimating reduced (subsidized) risk premium rates for flood insurance for residential property that is neither the primary residence of an individual (as under current law) nor the secondary residence of the property owner.
Directs FEMA to establish standards for a residential property to qualify as a secondary residence eligible for subsidized risk flood insurance premium rates that: (1) require the owner to occupy the property for an appropriate minimum period of time each year, and (2) limit subsidized risk premium rates to but a single property of the owner.
Repeals the prohibition against estimating subsidized risk premium rates for business property (thus qualifying business property for such rates).
Directs FEMA to refund directly to insureds any flood insurance premiums collected in excess of the rates required under this Act.
Cosponsors 4
Members who signed on, in the order they did. Signatures ran from Mar 26, 2014 to May 23, 2014, with 2 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-FL | Gus M. Bilirakis | Original | Mar 26, 2014 |
| D-FL | Kathy Castor | Original | Mar 26, 2014 |
| D-FL | Lois Frankel | May 23, 2014 | |
| D-FL | Patrick Murphy | May 23, 2014 |
Actions 2
Everything that happened, newest first.
- Mar 26, 2014Introduced in House
- Mar 26, 2014Referred to the House Committee on Financial Services.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 3370 | Homeowner Flood Insurance Affordability Act of 2014 | Procedurally related | Mar 21, 2014 |
Subjects
Assigned by the Library of Congress. Policy area: Emergency Management.
Text 1
Each version as it was printed, newest first.
- Mar 26, 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.