HR 253 - Flood Insurance Reform Act of 2003 - National Key Vote

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Title: Flood Insurance Reform Act of 2003

Vote Smart's Synopsis:

Vote to pass a bill that would extend the National Flood Insurance Program until September 30, 2008, and allow Federal Emergency Management Agency (FEMA) to continue helping repetitive loss owners.

Highlights:

  • Authorizes FEMA funding to purchase or mitigate repetitive loss properties in order to reduce number of claims paid.
  • Requires owners of repetitive loss properties, or repetitive claims properties that refuse mitigation to standard actuarial rates, or purchase flood insurance on their own.

NOTE: THIS VOTE WAS TAKEN UNDER A SUSPENSION OF THE RULES TO CUT OFF DEBATE EARLY AND VOTE TO PASS THE BILL, THEREBY REQUIRING A TWO-THIRDS MAJORITY FOR PASSAGE.

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