Congressman Devin Nunes (R-CA) today announced that the House Financial Services Committee has passed legislation to reauthorize the National Flood Insurance Program. As part of that legislation, several important provisions were approved that will result in better program management and significant savings.
Among the amendments approved today was one based on the Flood Insurance Choice Act, a bill authored by Congressman Nunes in April. The inclusion of this provision will provide homeowners the choice of buying private flood insurance, which is generally less expensive. Homeowners will also be able to make quarterly payments, adding flexibility to the system.
"Choice and competition will help reduce flood insurance costs, particularly in communities like Visalia," said Rep. Nunes.
The Committee also eliminated the ability of the Federal Emergency Management Agency (FEMA) to pretend levies don't exist on the basis that they have been inadequately maintained. Such decisions have impacted many communities, including Visalia, and are not reflective of actual risk.
"A "poorly maintained' levy is clearly not the same thing as "no levy,' and this change is overdue," said Rep. Nunes. The Congressman continued, "I am very appreciative of Chairman Bachus for his willingness to offer my language as an amendment to this important bill and would like to thank Committee Members Shelley Moore Capito and David Schweikert for their support."