- Not enactedThe President has not signed this bill
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- The house has not voted
Committee on Financial ServicesIntroducedMarch 19th, 2013
- house Committees
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Flood Insurance Premium Relief Act of 2013
To delay and phase-in increases in flood insurance premium rates under the national flood insurance program for certain properties, and for other purposes.
Flood Insurance Premium Relief Act of 2013 - States that the flood insurance risk premium rate for property purchased between July 6, 2012, and January 1, 2015, shall, during the 12-month period beginning upon such purchase, be the amount chargeable for such property immediately before its purchase (thus delaying implementation of the rate increase). Requires phase-in of the rate increase, following expiration of such 12-month period, over a 10-year period, at 10% for each year. Makes conforming amendments to the National Flood Insurance Act of 1968.