|Posted:||April 15, 2015 10:47 AM|
|From:||Representative Steven J. Santarsiero|
|To:||All House members|
|Subject:||Legislation Establishing the Flood Insurance Premium Assistance Task Force|
|In the near future, I plan to introduce legislation that would create the Flood Insurance Premium Assistance Task Force.
Around the country, recent events have shown us the devastation that can be inflicted upon businesses and homeowners by a flood. Properties located in areas with a high risk of flooding are required to purchase flood insurance to help cover the cost of the potential damage. However, as a result of the federal Biggert-Waters Flood Insurance Reform Act of 2012, premiums for flood insurance have been skyrocketing, making this coverage unaffordable to many who are required to have it. Furthermore, on March 16, 2015, the Federal Emergency Management Agency (FEMA) updated its flood mapping to re-classify many low to moderate flood risk areas as high risk flood areas. This has led to many Pennsylvanians having to incur a new and large expense to purchase flood insurance, which they were not required to do so before.
My bill is designed to address the question of how we can best assist those who are being affected by rising flood insurance premiums. My legislation will create the Flood Insurance Premium Assistance Task Force, which will issue a final report with recommendations within six months of its creation. The recommendations shall include:
The Task Force shall be comprised of nine members. They shall be chose as follows:
Please join me in co-sponsoring this important piece of legislation.
Introduced as HB1299