House Approves Bill to Phase In Actuarial Premiums for Some Homes

摘要

The House passed a flood insurance bill (H.R. 3959) January 23 that would phase in actuarial insurance premiums for certain homes built before flood insurance rate maps were published. The bill applies to properties built before December 31, 1974, or the effective date of the initial rate map, whichever is later, and purchased after the date of enactment of this legislation for at least $600,000 for use as the buyer's principal residence.