SENATE PASSES LYNCH-BACKED COMPROMISE FLOOD INSURANCE RELIEF BILL

Mar 14, 2014

Congressman Stephen F. Lynch released the following statement upon Senate passage of H.R. 3370, the bipartisan, compromise Homeowner Flood Insurance Affordability Act:

"I am very pleased that the U.S. Senate agreed to our compromise flood insurance relief legislation, which will stop the unintended consequences of the Biggert-Waters Act for homeowners in my district and across Massachusetts who have been harmed by recent flood insurance premium increases. The bill will dramatically reduce scheduled premium increases and reimburse covered homeowners who were forced to pay exorbitant premiums under the Biggert Waters Act. The newly-passed relief bill will also improve the Federal Emergency Management Agency's troubled mapping procedures and ensure that local communities and Members of Congress have a greater say early in the mapping process. For those homeowners who successfully challenged their elevation rating, the bill also provides for reimbursement. 

This bill represents real relief for homeowners, and I congratulate my colleagues Senators Liz Warren and Ed Markey for their swift action to pass this critical legislation. We fully expect that the President will follow the Senate's lead and sign this bill into law as soon as possible."

The Homeowner Flood Insurance Affordability Act passed the Senate by an overwhelming vote of 72-22. It passed the House on March 4, 2014, by a vote of 306-91.