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MS HC5
Concurrent Resolution
Status
Failed
4/2/2015
Primary Sponsor
David Baria
Click for details
AI Summary
- Opposes the Biggert-Waters Flood Insurance Reform Act of 2012 and requests Congress to repeal provisions that increase flood insurance rates
- Identifies concerns that primary residences in Special Hazard Flood Areas will lose grandfathered rate status upon sale, policy lapse, or new policy purchase, with actuarial rates phased in by 2019
- Argues that low and moderate income Mississippi residents will be unable to afford higher rates, leaving them uninsured and unable to sell homes
- Requests that dramatic flood insurance rate increases be considered a regulatory or constructive taking under the Fifth Amendment requiring just compensation to property owners
- Directs transmission of the resolution to the President, U.S. Senate, House of Representatives, Mississippi's congressional delegation, and state legislatures nationwide
Legislative Description
Biggert-Waters Act of 2012; request Congress to repeal certain provisions and declare certain effects of as a taking.
Last Action
Died In Committee
4/2/2015
Committee Referrals
Rules1/6/2015
Full Bill Text
No bill text available