Press Releases

Luetkemeyer Reintroduces NFIP Fixes

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Washington, January 10, 2019 | comments

Congressman Blaine Luetkemeyer (MO-03) introduced four bills to provide critical fixes to the Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP). Congressman Luetkemeyer released the following statement:

“Throughout my time in Congress, bipartisan calls for comprehensive reform of the NFIP have gone unanswered. I represent thousands of miles of shoreline along the Lake of the Ozarks, Mississippi River, Missouri River, and Osage River where my constituents continue to face threats of flooding while we kick the can down the road, continuing the inadequate status quo,” said Congressman Luetkemeyer. “Today I reintroduced four bills that will make a real difference to coastal Americans. I hope my colleagues will support these bills as we continue to work toward permanent, comprehensive reforms that ensure the program is financially sound, taxpayers are protected from footing the bill for future losses, and power is shifted from bureaucrats in Washington to states, local communities and policyholders.”

The Taxpayer Exposure Mitigation Act requires FEMA to purchase reinsurance or some capital market alternative to protect taxpayers from footing the bill for future losses. This provision was included in H.R. 2246, which passed the House Financial Services Committee by a vote of 36-24 in the 115th Congress.

The Community Mapping Act allows local communities to develop alternative flood maps, shifting power from Washington bureaucrats to those who know their community best. This provision was included in H.R. 2246, which passed the House Financial Services Committee by a vote of 36-24 in the 115th Congress.

Congressman Luetkemeyer also reintroduced a bill to require the use of replacement cost value in determining the premium rates for flood insurance coverage under the NFIP, ensuring homeowners pay their fair share and do not subsidize America’s wealthier coastal homeowners. This legislation passed the House Financial Services Committee by a vote of 34-25 in the 115th Congress.

Finally, Congressman Luetkemeyer introduced a bill allowing commercial properties to opt-out of the NFIP mandatory purchase requirement, allowing businesses to more easily purchase private flood coverage. This provision was included in H.R. 2246, which passed the House Financial Services Committee by a vote of 36-24 in the 115th Congress.

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