Flood Insurance Affordability Act

Senate Bill 601 - Flood Insurance Affordability Act: Overview, Status, and Impact

Hozzl · 2024-02-16T15:28:31Z

Explore the details of Senate Bill 601 Flood Insurance Affordability Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

2/16/2024, 3:28 PM

Congressional Summary of S 601

Flood Insurance Affordability Act

This bill lowers the annual limit on National Flood Insurance Program (NFIP) premium increases applicable to primary residences from 18% to 9%.

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Current Status of Bill S 601

Bill S 601 is currently in the status of Bill Introduced since March 1, 2023. Bill S 601 was introduced during Congress 118 and was introduced to the Senate on March 1, 2023. Bill S 601's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of March 1, 2023

Bipartisan Support of Bill S 601

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 601

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill S 601

Flood Insurance Affordability Act

A bill to amend the National Flood Insurance Act of 1968 to modify the amount by which the chargeable risk premium rate for flood insurance under that Act may be increased in any year.