U.S. House Financial Services Passes H.R. 4050

 

Introduced by on November 1, 2007 by United States Representative Gabrielle Giffords, H.R. 4050, “The Levee-Like Structure Consideration Act of 2007,” requires the Administrator of the Federal Emergency Management Agency to issue guidance providing a process for consideration of the flood protections afforded by certain structures for purposes of the national flood insurance program. 

After being referred the House Financial Services Committee on November 7, 2007, the bill was ordered reported to the House with a favorable recommendation by voice vote with the following summary:

The National Flood Insurance Program’s flood insurance rate maps currently only include levees accredited by the Army Corps of Engineers in the flood map modernization process.  FEMA subsequently created a process for communities with levees not recognized by the Corps of Engineers so that they could delay the implementation of the new flood insurance rate maps for 24 months while the community in question provided evidence of the flood protective nature of the non-accredited levee.  H.R. 4050 simply requires FEMA to issue guidelines that afford the same opportunities to communities protected in whole or in part by levee-like structure as FEMA has already afforded to communities protected by non-accredited levees.  In doing so, this legislation will contribute to the overall effort to reform and modernize the National Flood Insurance Program so that it more closely functions like a commercially viable insurance program.

 

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