BREAK IN TRANSCRIPT
Mrs. McCARTHY of New York. I would like to thank the gentlewoman from California (Ms. Waters) for yielding me this time. It has been a pleasure working with her. I would also like to thank Chairman Bachus and Subcommittee Chair BIGGERT with whom we have worked. This is something that is important to both of our districts. I also thank Ranking Member Barney Frank.
Madam Chairman, H.R. 1309, the Flood Insurance Reform Act of 2011, reauthorizes the National Flood Insurance Program for 5 years, but it also provides much needed reforms to the National Flood Insurance Program.
My district in Long Island, especially the community of Valley Stream, was included in the early rounds of FEMA's implementation of the flood map modernization process, and we have experienced much of the frustrations associated with the process. The whole idea of redoing what we're doing in this flood map is hopefully to prevent other Members of Congress from being frustrated as much as I have when they're trying to help their community.
Since our maps were enacted in the fall of 2009, I hear daily from our frustrated homeowners who are required to purchase flood insurance because of the updated maps and who feel they did not have the time or the tools necessary to understand and respond to the maps' results. H.R. 1309 contains provisions to better inform homeowners who are required to purchase flood insurance because of updated maps. For example, the bill requires FEMA to notify federally elected officials when there are changes to a flood zone or a map directly in their district.
The bill also requires FEMA to create a method for flood insurance policies to be paid for with installment payments, to ease the burden of having to pay the up-front full payment which can cost thousands of dollars. The bill also allows for homeowners who are in the reduced cost preferred risk policy program to enter into the 5-year phase-in for full actuarial rates when the extended rate expires in 2013.
To ensure the accuracy of the data and process FEMA used in creating the updated maps around the country, H.R. 1309 also creates a Technical Mapping Council made up of agency employees and experts in the field of mapping to develop new mapping standards for future map modernization activities. We need to use every tool available to bring relief to homeowners who are being burdened by FEMA's map modernization process, and the bill before us is a good start.
I would like also to say, once again, working with my colleague Mrs. Biggert, working on the subcommittee has been a really good process. We have been able to bring our experiences, what happened in my community in Valley Stream and the frustration that homeowners have gone through. This legislation, although it doesn't cure everything, it will help constituents. And those who have not had their maps done yet, this is a good way for going forward.
BREAK IN TRANSCRIPT