Biggert-Waters Flood Insurance Reform Act of 2012

URI: https://gptkb.org/entity/Biggert-Waters_Flood_Insurance_Reform_Act_of_2012
GPTKB entity
Statements (29)
Predicate Object
gptkbp:instanceOf gptkb:United_States_federal_law
gptkbp:affects gptkb:Federal_Emergency_Management_Agency
homeowners in flood-prone areas
gptkbp:amendedBy gptkb:Homeowner_Flood_Insurance_Affordability_Act_of_2014
gptkb:National_Flood_Insurance_Program
gptkbp:category gptkb:2012_in_American_law
gptkb:Flood_insurance_in_the_United_States
gptkbp:citation gptkb:126_Stat._405
gptkbp:controversy led to significant premium increases for some homeowners
gptkbp:enactedBy gptkb:United_States_Congress
https://www.w3.org/2000/01/rdf-schema#label Biggert-Waters Flood Insurance Reform Act of 2012
gptkbp:provides establishes a reserve fund
increases premiums for some policyholders
mandates actuarial risk-based rates
phases out certain flood insurance subsidies
requires disclosure of flood risk to buyers
requires updated flood maps
gptkbp:publicLawNumber gptkb:Public_Law_112-141
gptkbp:purpose reform and reauthorize the National Flood Insurance Program
reduce federal spending on flood insurance subsidies
make flood insurance rates more actuarially sound
gptkbp:shortName gptkb:Biggert-Waters_Act
gptkbp:signedBy gptkb:Barack_Obama
July 6, 2012
gptkbp:sponsor gptkb:Maxine_Waters
gptkb:Judy_Biggert
gptkbp:title gptkb:Biggert-Waters_Flood_Insurance_Reform_Act_of_2012
gptkbp:bfsParent gptkb:NFIP
gptkbp:bfsLayer 6