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Homeowner Flood Insurance Transparency and Protection Act

S. 721 Sen. Cindy Hyde-Smith (R-MS) In committee
Bill text PDF
  1. Introduced Mar 8
  2. Committee Mar 8
  3. Passed Senate Next
  4. Passed House Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Mar 8, 2023Next: Senate vote
1330d ago Mar 8, 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

Homeowner Flood Insurance Transparency and Protection Act

Full summary5 paragraphs

This bill allows National Flood Insurance Program policyholders to elect to pay premiums at the rate in effect prior to the implementation of Risk Rating 2.0. Risk Rating 2.0 bases premium rates on an individual property's specific flood risk instead of the flood risk of a general location and property type.

Policyholders may elect to pay the previous rate until the Federal Emergency Management Agency performs several actions regarding Risk Rating 2.0, including

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

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

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

Library of Congress summary, Mar 8, 2023

Summary versions
  • Introduced in SenateMar 8, 2023

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