118th Congress Finance and Financial Sector
S. 2142: National Flood Insurance Program Reauthorization and Reform Act of 2023
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill generally revises the National Flood Insurance Program (NFIP) and reauthorizes the program through FY2026.
The bill addresses NFIP coverage, cost, and availability, including by
- generally prohibiting the Federal Emergency Management Agency (FEMA) from raising certain premiums, surcharges, and fees more than 9% a year for five years;
- revising flood insurance coverage limits;
- establishing a means-tested program to provide financial assistance to low-income households through policy discounts; and
- revising standards and certification requirements for flood insurance rate maps.
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The bill also revises administrative provisions of the NFIP, including by
- allowing for the continuous operation of the NFIP during a lapse in appropriations, and
- prohibiting the Department of the Treasury from charging FEMA interest for NFIP debt for five years.
The bill sets forth requirements for Write Your Own companies related to reimbursements, agent commissions, and penalties for underpayment of claims. (A Write Your Own company writes and services federal standard flood insurance policies in its own name.)
The bill establishes state or tribal government revolving funds for flood mitigation activities and also provides for loans, grants, and other incentives regarding mitigation.
The bill also requires the creation of an appeals process for disputing NFIP premium rates.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Cory Booker D-NJOriginal
- Bill Cassidy R-LAOriginal
- Kirsten Gillibrand D-NYOriginal
- Cindy Hyde-Smith R-MSOriginal
- John Kennedy R-LAOriginal
- Marco Rubio R-FLOriginal
- Chris Van Hollen D-MDOriginal
- Roger Wicker R-MSOriginal
- John Cornyn R-TX
Who scored on this bill
- 1Robert Menendez SponsorDrew cross-party cosponsors, introduced2 events+6
See all scorers and every scoring event
Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by Robert Menendez
History
- Introduced in the Senate by Robert Menendez.
Show the full action history (3 actions)
- Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-548.
- Introduced in Senate
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.