US Senate passes Homeowners Flood Insurance Affordability Act

On Thursday, January 30, the US Senate passed the Homeowner Flood Insurance Affordability Act by a vote of 67-32. This legislation calls for a four-year delay on rate increases triggered by a property’s sale or a flood map update for a property with previously grandfathered rates. The vote sends the measure to the House for consideration. The House version of the bill currently has 181 cosponsors.

To see how your senators voted, visit the rollcall vote list here. For more information about the flood insurance issue, please visit REALTOR.org.