To repeal the mandatory flood insurance coverage requirement for commercial properties located in flood hazard areas, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill creates opt-out of mandatory coverage requirement for commercial properties The Flood Disaster Protection Act of 1973 is amended— in section 3(a) (42 U.S.C. It relies on definition changes, grants, compliance mandates, and procurement rules. The main policy areas are Financial Services, Criminal Justice, and Finance.
Who Benefits and How
Public beneficiaries or protected communities affected by the clause could face reduced risk.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties, Financial services firms and customers affected by the bill would take on compliance duties, and Disaster response agencies and disaster-affected communities would take on compliance duties.
Key Provisions
- Creates opt-out of mandatory coverage requirement for commercial properties The Flood Disaster Protection Act of 1973 is amended— in section 3(a) (42 U.S.C.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill creates opt-out of mandatory coverage requirement for commercial properties The Flood Disaster Protection Act of 1973 is amended— in section 3(a) (42 U.S.C.
Key Policy Areas
Financial Services, Criminal Justice, Finance
Primary Purpose
The bill creates opt-out of mandatory coverage requirement for commercial properties The Flood Disaster Protection Act of 1973 is amended— in section 3(a) (42 U.S.C.
Policy Domains
Whole bill
Identified Gains
- Public beneficiaries or protected communities affected by the clause
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Financial services firms and customers affected by the bill
- Disaster response agencies and disaster-affected communities
Legislative Progress
IntroducedMr. Luetkemeyer introduced the following bill; which was referred to …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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