National Flood Insurance Act of 1968
The National Flood Insurance Act of 1968 is a federal law in the United States that was enacted as Title XIII of the Housing and Urban Development Act of 1968 and signed into law by President Lyndon B. Johnson that led to the creation of the National Flood Insurance Program (NFIP).[1][2]
Origin of the act
The act was motivated by a long history of property damage and loss of life due to flooding.[3] The legislation was finally promulgated because of the recent flood loss sustained in Florida and Louisiana following the destruction caused by the Hurricane Betsy flood surge in 1965.[1]
National Flood Insurance Program
The NFIP goals are two-fold:
• To provide flood insurance for structures and contents in communities that adopt and enforce an ordinance outlining minimal floodplain management standards.
• To identify areas of high and low flood hazard and establish flood insurance rates for structures inside each flood hazard area.[4]
Amendments
The program was first amended by the
Biggert–Waters Flood Insurance Reform Act of 2012
The
Proposed
In January 2014, the United States Senate passed the
In March 2014, the
Criticism
According to critics of the program, the government's subsidized insurance plan "encouraged building, and rebuilding, in vulnerable coastal areas and floodplains."[7] Stephen Ellis, of the group Taxpayers for Common Sense, points to "properties that flooded 17 or 18 times that were still covered under the federal insurance program" without premiums going up.[7]
See also
- Homeowner Flood Insurance Affordability Act of 2014 (S. 1926; 113th Congress)
References
- ^ ISBN 0-7506-7689-2
- Pub. L.90–448
- ^ Wright, James M., The Nation's Response to Flood Disasters: A Historical Account. 1 April 2000.
- ^ Thomas L., Hayes; Randall A., Jacobson (November 30, 2001). "Actuarial Rate Review, National Flood Insurance Program" (PDF). Archived from the original (PDF) on 24 February 2006.
- ^ a b c Ferraro, Thomas (30 January 2014). "U.S. Senate passes bill to delay hikes in flood insurance rates". Reuters. Retrieved 31 January 2014.
- ^ a b c d Uhlenbrock, Kristan (31 January 2014). "Despite Hazard of Sea Level Rise, Senate Halts Flood Insurance Reforms". ThinkProgress. Retrieved 31 January 2014.
- ^ a b c d hanscom, Greg (13 January 2014). "Flood pressure: Climate disasters drown FEMA's insurance plans". Grist. Retrieved 31 January 2014.
- ^ "S. 1926 – Summary". United States Congress. Retrieved 31 January 2014.
- ^ a b "H.R. 3370 – Summary". United States Congress. Retrieved 4 March 2014.