Matsui Amendment Reduces Flood Insurance Rates

On Tuesday, July 12, 2011, Congresswoman Matsui (D-Sacramento) spoke on the House floor to offer an amendment to H.R. 1309 which would phase-in the higher cost of full priced flood insurance over five years for recently remapped areas. This would make the starting point for remapped areas begin at the Preferred Risk Policy (PRP) rate, as opposed to the 50 percent of a full-priced policy starting point that the earlier version of H.R. 1309 established. This amendment will make flood insurance more affordable, and will save many homeowners over $800 over five years. The House adopted the Matsui amendment by voice vote.

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News & Politics

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• flood insurance
• sacramento
• doris matsui
• house dems
• house floor