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House Bill 5618
115th Congress(2017-2018)
Flooded Homeowner Financial Relief Act of 2018
Introduced
Introduced
Introduced in House on Apr 25, 2018
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Introduced in House 
Apr 25, 2018
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Introduced in House(Apr 25, 2018)
Apr 25, 2018
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Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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H. R. 5618 (Introduced-in-House)


115th CONGRESS
2d Session
H. R. 5618


To exempt properties located in flood hazard areas that are participating in an approved buy-out program from the mandatory purchase requirement under the National Flood Insurance Program, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

April 25, 2018

Mr. Faso (for himself and Mr. Gonzalez of Texas) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To exempt properties located in flood hazard areas that are participating in an approved buy-out program from the mandatory purchase requirement under the National Flood Insurance Program, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Flooded Homeowner Financial Relief Act of 2018”.

SEC. 2. Exemption of buy-out properties from mandatory purchase requirement.

Subsection (c) of section 102 of the Flood Disaster Protection Act of 1973 (42 U.S.C. 4012a(c)) is amended by adding at the end the following new paragraph:

“(4) BUY-OUT PROPERTIES.—Notwithstanding any other provision of this section, flood insurance shall not be required for any residential property—

“(A) that is located in an area having special flood hazards; and

“(B) for which a binding commitment has been made to acquire the property, demolish the residential structure located on the property, and designate the property for open-space use, under a Federal, State, local, or other program for such buy-outs that meets such requirements as the Administrator shall require to ensure that such open-space use is accomplished.”.