WASHINGTON, D.C. – February 10, 2014 – (RealEstateRama) — Representative Steven Horsford (NV-4) took to the House floor to urge a vote on H.R. 3370, The Homeowner Flood Insurance Affordability Act.
A transcript of Horsford’s remarks is below:
“Last month the Senate voted overwhelmingly to approve the Homeowner Flood Insurance Affordability Act. And the headline of the American Banker article says it all: ‘House G.O.P. Blocks Vote on Senate-Passed Flood Insurance Bill.’ ‘Florida Governor Scott Urges Speaker Boehner To Take Up Flood Insurance Fix,’ by The Palm Beach Post.
“This bipartisan legislation provides a four-year time-out on rate increases triggered by a property sale or a flood map update for a property with previously grandfathered rates. The bill also creates a flood insurance advocate to investigate homeowner complaints of rate quotes.
“During a recent trip back to my home state of Nevada, my constituents told me that these increases can be excessive and unfair. It’s a problem they want addressed now.”