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Flood Insurance Bill Passed by Senate
The Senate passed a bill Thursday (1/31/14) to delay certain flood insurance rate hikes. The bill delays the implementation of certain provisions of the Biggert-Waters Flood Insurance Reform Act of 2012. Known as the “Homeowner Flood Insurance Affordability Act of 2014,” it was sponsored by Sens. Bob Menendez (D-N.J.) and Johnny Isakson (R-Ga.). Its fate now rests with the House of Representatives where some Republican leaders have expressed opposition to the flood insurance delay provisions. The Senate bill would halt premium hikes by...