HR 5612
Cost-of-Living Fairness Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Cost-of-Living Fairness Act aims to ensure that payments for certain insurance policies, such as auto, homeowner’s, and flood insurance, are considered when determining eligibility for federal and state assistance programs. Specifically, the bill requires that these insurance payments be deducted from an individual’s income and resources when assessing their eligibility for benefits. This change is intended to help individuals facing financial hardship by acknowledging the cost of these essential protections. The bill also defines key terms related to insurance policies and programs.
Key provisions
- Insurance policy payments are deducted from income when determining eligibility for benefits.
- The bill covers passenger motor vehicle insurance, homeowner’s insurance, and flood insurance.
- It includes private flood insurance and policies designed to supplement existing flood insurance.
- The bill defines ‘insurer,’ ‘passenger motor vehicle,’ and ‘State’ for clarity.
- The act applies to both federal and state programs funded with federal money.
Who is affected
- Individuals receiving government assistance
- Low-income households
- Insurance policyholders
- Federal and State government agencies
- Flood insurance policyholders
Notable changes
- This bill introduces a new consideration of insurance payments when calculating eligibility for benefits.
- It expands the scope of insurance policies included in income and resource calculations.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
Eleanor Holmes [D-DC-At Large] Norton
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119th CONGRESS — 1st Session
H. R. 5612
IN THE HOUSE OF REPRESENTATIVES
A BILL
To require payments for certain insurance policy premiums to be taken into account in determining eligibility for benefits or assistance provided through Federal funds, and for other purposes.
This Act may be cited as the Cost-of-Living Fairness Act
.
In this section:
covered insurance policymeans any of the following:
An insurance policy provided by an insurer for a passenger motor vehicle registered under applicable State law to—
the individual who pays for the policy; or
a member of the household of such individual.
An insurance policy or product under applicable State law that insures, guarantees, or indemnifies against liability, loss of life, loss of health, or loss through damage to, or destruction of, property, which is available to the individual who pays for the policy or product or a member of the household of such individual based on the status of the individual or member as a homeowner or a renter.
A flood insurance policy for the principal residence of an individual that is—
issued under the National Flood Insurance Act of 1968;
a policy for private flood insurance, as such term is defined in section 102(b) of the Flood Disaster Protection Act of 1973; or
designed to supplement either of the types of policies described in clause (i) or (ii).
The terms insurer
, passenger motor vehicle
, and State
have the meanings given the terms, respectively, in section 32101 of title 49, United States Code.