HR 8616
Build for Future Disasters Act of 2020
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Build for Future Disasters Act of 2020 aims to reform the National Flood Insurance Program (NFIP) by eliminating subsidies for new construction flood insurance. Starting January 1, 2025, newly built properties and substantial improvements will be charged rates reflecting their actual flood risk, rather than subsidized premiums. The bill also directs the Government Accountability Office to study the feasibility of phasing out all premium subsidies and requiring flood mitigation measures for properties receiving insurance.
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