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Flood Insurance for Farmers Act of 2022
12/30/2022, 12:04 AM
Summary of Bill HR 7865
Bill 117 HR 7865, also known as the Flood Insurance for Farmers Act of 2022, aims to provide relief to farmers who are facing financial hardships due to flooding. The bill seeks to address the lack of affordable flood insurance options for farmers by creating a new program specifically tailored to their needs.
Under this legislation, farmers would have access to affordable flood insurance policies that take into account the unique risks and challenges they face. The bill also includes provisions for assistance with mitigation efforts to help farmers reduce their risk of flooding and minimize potential damage to their crops and property.
Additionally, the Flood Insurance for Farmers Act of 2022 includes measures to improve the accuracy of flood mapping and risk assessment, ensuring that farmers have access to the most up-to-date information to make informed decisions about their insurance coverage. Overall, this bill aims to support farmers in managing the financial risks associated with flooding, providing them with the tools and resources they need to protect their livelihoods and continue to contribute to the agricultural industry.
Under this legislation, farmers would have access to affordable flood insurance policies that take into account the unique risks and challenges they face. The bill also includes provisions for assistance with mitigation efforts to help farmers reduce their risk of flooding and minimize potential damage to their crops and property.
Additionally, the Flood Insurance for Farmers Act of 2022 includes measures to improve the accuracy of flood mapping and risk assessment, ensuring that farmers have access to the most up-to-date information to make informed decisions about their insurance coverage. Overall, this bill aims to support farmers in managing the financial risks associated with flooding, providing them with the tools and resources they need to protect their livelihoods and continue to contribute to the agricultural industry.
Congressional Summary of HR 7865
Flood Insurance for Farmers Act of 2022
This bill revises the National Flood Insurance Program to allow exemptions of certain agricultural structures from flood-proofing or elevation standards while receiving coverage under the program. The bill also provides for optional umbrella coverage for commercial, residential (including multifamily rental units), and agricultural property to be made available to all applicants with multiple structures on the same property.
Read the Full Bill
Current Status of Bill HR 7865
Bill HR 7865 is currently in the status of Bill Introduced since May 24, 2022. Bill HR 7865 was introduced during Congress 117 and was introduced to the House on May 24, 2022. Bill HR 7865's most recent activity was Referred to the House Committee on Financial Services. as of May 24, 2022
Bipartisan Support of Bill HR 7865
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
6Democrat Cosponsors
2Republican Cosponsors
4Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 7865
Primary Policy Focus
Finance and Financial SectorAlternate Title(s) of Bill HR 7865
Flood Insurance for Farmers Act of 2022
Flood Insurance for Farmers Act of 2022
To increase the availability of flood insurance for agricultural structures, and for other purposes.
Comments
Sponsors and Cosponsors of HR 7865
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