On January 30, 2014, the US Senate passed S.1926, the
Homeowner Flood Insurance Affordability Act, on a vote of
67-32. Support for this bill included several Republican Senators
from the coastal states of Louisiana, Mississippi, Georgia and
Florida, suggesting that Congress may yet enact additional
modifications to the flood insurance program this year. Action in
the House is not yet assured, but there are indications that the
House will consider a modified version of the Senate proposal.
The Landscape for the Flood Insurance Program: Omnibus
Provisions
In 2012, Congress enacted the Biggert-Waters Flood Insurance
Reform Act, (Biggert-Waters Act) which would impose dramatic
premium increases on grandfathered policies in October of this
year. The rate increases were intended to improve the financial
stability of the National Flood Insurance Program
(NFIP) — at present, the program is $24 billion in debt
with further deficits projected over time. Rep. Bill Cassidy
