Update: Homeowner Flood Insurance Affordability Act

The following item was received from the Outer Banks Chamber of Commerce on Thursday, February 27, 2014.

The Outer Banks Chamber of Commerce continues to monitor HR 3370 – Homeowner Flood Insurance Affordability Act. 
 
The vote on HR 3370 has been delayed until next week!  This gives us extra time to reach out to those in the US Representatives from North Carolina and ask them to vote YES to this legislation.  The bill needs 287 votes to pass the house and currently has 238 c-sponsors (votes).  Only 3 of North Carolina’s 13 US Representatives have signed onto this bill as co-sponsors. 
 
H.R. 3370, the Homeowner Flood Insurance Affordability Act as amended would resolve most of the unintended consequences and uncertainties created by implementation of the Biggert-Waters law and still raise revenue. It would correct the unintended consequences by repealing key provisions that are driving the most excessive and inaccurate rate increases imposed on recent home purchases. It would also require that the Federal Emergency Management Agency (FEMA) refund excessive premiums to those who already bought a home but were not warned by FEMA of the increase before purchasing the property.
 
H.R. 3370 provides a more affordable rate structure for policyholders, repeals the rate increases from the sale or transfer of homes, restores the substantial improvement threshold to the historic 50%, requires FEMA to create more accurate flood maps, and ensures that consumers can be reimbursed for successful map appeals.
 
Our District 3 Congressman Walter Jones already supports this bill and is a co-sponsor, please thank him for his commitment to Northeast North Carolina and the Outer Banks.  You can also reach out to the representatives from the other districts throughout the state via phone:
 
District 1 – Butterfield, G.K. (Democrat)                  (202) 225-3101
District 2 – Ellmers, Renee (Republican)                 (202) 225-4531
District 3  – Jones, Walter (Republican)                   (202) 225-3415
District 4 – Price, David (Democrat)                        (202) 225-1784
District 5 – Foxx, Virginia (Republican)                   (202) 225-2071
District 6 – Coble, Howard (Republican)                   (202) 225-3065
District 7 – McIntyre, Mike (Democrat)                     (202) 225-2731
District 8 – Hudson, Richard (Republican)               (202) 225-3715
District 9 – Pitenger, Robert (Republican)              (202) 225-1976
District 10 – McHenry, Patrick (Republican)          (202) 225-2576
District 11 – Meadows, Mark (Republican)            (202) 225-6401
District 12 – VACANT
District 13 – Holding, George (Republican)            (202) 225-3032
 
Thank you for your efforts on this important issue.