Here are the Key Points to Remember:
- NAR is supportive of many components of the House package including:
- Strengthening access to private flood insurance as well as the NFIP
- $1 billion investment in mitigation so homeowners can lower their flood risk
- Streamlines community flood map appeals process
- A new overall cap on premiums ($10,000)
- NAR is asking for three specific things before the House votes on the package:
- NAR opposes the provision ending grandfathering of properties remapped after 4 years
- NAR is asking Congress to provide full cost impacts for a range of policyholders
- NAR is asking Congress to direct FEMA to produce building specific maps with elevation data
If you have any questions, please reach out to your NAR Lobbyist or Political Representative. You can also reach out to Victoria Givens at email@example.com or 202-383-1021 if you are unsure who best to contact about your question.
Thank you again for your participation and continued commitment to advocacy on behalf of the National Association of REALTORS.