March 5th, 2014 2:24 PM by Ron Mastrodonato
March 4, 2014Washington, D.C. – Congressman Bilirakis (R-FL), today lauded the passage of H.R. 3370, the Homeowner Flood Insurance Affordability Act. Bilirakis applauded the House’s bipartisan legislation to solve the flood insurance rate hikes following FEMA’s implementation of the Biggert-Waters Act of 2012.
“When Biggert-Waters was passed in 2012, its reforms were not intended to cause the dramatic premium increases that homeowners are currently experiencing. Some Floridians have been quoted annual premiums in the tens of thousands of dollars, which is an untenable financial burden, particularly during these difficult economic times. This legislation contains a number of important provisions that will provide relief for homeowners,” Bilirakis said. “After bipartisan and bicameral negotiations, the House passed legislation that will provide immediate relief to homeowners struggling to keep their homes, ensure that all participants in the program are treated fairly, and provide stability within our fragile housing market. I expect the U.S. Senate will take swift action in moving this legislation to the President’s desk because people need help now.”
Prior to the passage of H.R. 3370, Representative Bilirakis had introduced H.R. 3312, the Homeowners Flood Insurance Relief Act of 2013. Bilirakis had worked closely with Majority Leader Cantor and members of both parties to get legislation brought before and passed by the House. Bilirakis has indicated the next step in fixing the NFIP will be to guarantee the program is transparent and accountable to flood insurance policy holders.
To watch the entirety of Congressman Bilirakis’ floor speech in support of H.R. 3370, click the video below.