ATTN: Baltimore REALTORS® - All Member Alert to Congress. (Thank you if you took action before.) Please review background information below and
H.R. 2874 contains numerous provisions of critical importance to consumers and REALTORS:
- Reauthorizes NFIP for a full 5 years, avoiding the uncertainty of short term extensions and potential shutdowns
- Caps NFIP rates at $10,000 per year for property owners
- Directs FEMA to develop more granular rate tables, to ensure fewer properties are over charged by NFIP
- Sets aside $1 billion for flood mitigation assistance grants
- Increases access to private market flood insurance
Tell Congress to PASS Flood Insurance Reform Now!
Reauthorize the National Flood Insurance Program (NFIP) - REALTOR Action Center
The National Association of REALTORS (NAR) needs your help to drive messages to Members of Congress urging them to support H.R. 2874, “The 21st Century Flood Reform Act."
H.R. 2874 reauthorizes the NFIP and makes a number of critical improvements to the NFIP including increased funds for mitigation activities, caps on overall premium increases, improved claim and mapping processes, as well as removing hurdles for more private market participation in the flood insurance market. Reauthorization of the NFIP will help over 5 million homeowners in 22,000 communities around the country, so it is critical Congress acts now.
If Congress fails to take action to reauthorize the NFIP, it will expire by September 30, 2017.
Key Talking Points
HR 2874 Bill Summary on Congress.gov
NAR Section-By-Section Analysis of HR 2874
NAR Flood Insurance Portal
Here’s the link again, please be sure to Take Action Urging your Member of Congress to Pass H.R. 2874. As always, many thanks for your advocacy efforts.