A bill to require the Secretary of Housing and Urban Development to provide a disclosure notice to homebuyers of properties owned by the Department of Housing and Urban Development that are located in special flood hazard areas, and for other purposes.
1/25/2024, 5:15 AMSummary of Bill S 3649
Bill 118 s 3649, also known as the "Disclosure Notice for HUD-Owned Properties in Flood Hazard Areas Act," aims to ensure that homebuyers are informed about the potential risks of purchasing properties owned by the Department of Housing and Urban Development (HUD) that are located in special flood hazard areas.The bill requires the Secretary of HUD to provide a disclosure notice to homebuyers that clearly outlines the property's location in a special flood hazard area and the potential risks associated with flooding. This notice is intended to help buyers make informed decisions about purchasing these properties and to prevent any surprises or financial burdens that may arise from flooding events.
In addition to the disclosure notice, the bill also includes provisions for HUD to take necessary steps to mitigate flood risks for these properties, such as implementing flood prevention measures or providing information on flood insurance options. Overall, the goal of Bill 118 s 3649 is to promote transparency and accountability in the sale of HUD-owned properties in flood hazard areas, ultimately protecting homebuyers from potential financial and safety risks associated with flooding.
Current Status of Bill S 3649
Bill S 3649 is currently in the status of Bill Introduced since January 24, 2024. Bill S 3649 was introduced during Congress 118 and was introduced to the Senate on January 24, 2024. Bill S 3649's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of January 24, 2024Bipartisan Support of Bill S 3649
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 3649
Primary Policy Focus
Alternate Title(s) of Bill S 3649
A bill to require the Secretary of Housing and Urban Development to provide a disclosure notice to homebuyers of properties owned by the Department of Housing and Urban Development that are located in special flood hazard areas, and for other purposes.A bill to require the Secretary of Housing and Urban Development to provide a disclosure notice to homebuyers of properties owned by the Department of Housing and Urban Development that are located in special flood hazard areas, and for other purposes.Comments
Most relevant
Sponsors and Cosponsors of S 3649
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