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Risk Rating 2.0 Transparency Act

S. 602 Sen. John Kennedy (R-LA) In committee
Bill text PDF
  1. Introduced Mar 1
  2. Committee Mar 1
  3. Passed Senate Next
  4. Passed House Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Mar 1, 2023Next: Senate vote
1337d ago Mar 1, 2023: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Final votes
No roll callsNo recorded vote on this bill yet
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Summary

Risk Rating 2.0 Transparency Act

Full summary5 paragraphs

This bill requires the Federal Emergency Management Agency (FEMA) to release specified information regarding the National Flood Insurance Program's new Risk Rating 2.0. Risk Rating 2.0 went into effect on October 1, 2021, for new policies and on April 1, 2022, for existing policies. It bases premium rates on an individual property's specific flood risk instead of the flood risk of a general location and property type.

Under the bill, FEMA must

- publish all data and methods used to calculate premium rates under Risk Rating 2.0,

- create an online database where policyholders can see premium rates for their property using specified calculations, and

- publish an assessment of the economic and social impacts of Risk Rating 2.0.

Library of Congress summary, Mar 1, 2023

Summary versions
  • Introduced in SenateMar 1, 2023

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 27, 2026.