October 4, 2019 Cost Estimate As ordered reported by the House Committee on Financial Services on June 11, 2019 View Document164.27 KB Summary The bill would Extend the authority of the National Flood Insurance Program (NFIP) to operate through fiscal year 2024 Change premium amounts for some policyholders Authorize appropriations for several grant programs related to mapping flood zones and mitigating flood risks Estimated budgetary effects would primarily stem from Changing policyholders’ premiums and coverage Changes in the number of people who choose to purchase NFIP policies Amounts appropriated for various NFIP grant programs Areas of significant uncertainty include Estimating the number of affected policyholders and properties Estimating policyholders’ responses to changes in incentives to purchase or drop insurance coverage Estimating how many policyholders and communities would appeal changes to flood maps and how the results of those appeals would affect premiums Data and Supplemental Information Table 1 Table 2 Table 3 Table 4 Legislative Information Available From Congress.gov
The bill would Extend the authority of the National Flood Insurance Program (NFIP) to operate through fiscal year 2024 Change premium amounts for some policyholders Authorize appropriations for several grant programs related to mapping flood zones and mitigating flood risks Estimated budgetary effects would primarily stem from Changing policyholders’ premiums and coverage Changes in the number of people who choose to purchase NFIP policies Amounts appropriated for various NFIP grant programs Areas of significant uncertainty include Estimating the number of affected policyholders and properties Estimating policyholders’ responses to changes in incentives to purchase or drop insurance coverage Estimating how many policyholders and communities would appeal changes to flood maps and how the results of those appeals would affect premiums
