HR 7310
Flood Risk Transparency for Homebuyers Act
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Bill overview
This bill, the Flood Risk Transparency for Homebuyers Act, requires the Department of Housing and Urban Development (HUD) to inform potential homebuyers about the flood risk associated with properties HUD owns that are located in special flood hazard areas. Specifically, HUD must provide a disclosure notice detailing the estimated monthly cost of flood insurance and whether the property is considered a ‘severe repetitive loss property.’ The bill also mandates an annual report to Congress on claims filed under the National Flood Insurance Program for these properties.
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Primary sponsor
Cosponsors
Dean Phillips
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