NFIP Premium Transparency Act
- Bill Number
- H.R. 9511
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- Finance and Financial Sector
- Status
- Introduced
- Latest Action
- 2026-06-29: Referred to the House Committee on Financial Services.
- Last Updated
- 2026-07-09T22:56:40Z
AI-Generated Summary
Purpose This legislation aims to increase transparency in the National Flood Insurance Program (NFIP) by requiring the Federal Emergency Management Agency (FEMA) to provide policyholders and the public with detailed information on flood insurance premiums, risk factors, discounts, and property-specific data.
Key Provisions
- Declaration Page Updates: Starting 12 months after enactment, each NFIP policy's declaration page must list the current premium, applied discounts (e.g., pre-FIRM, newly mapped, Community Rating System), annual premium increase limits, replacement cost value, detailed rating factors (such as elevation, foundation type, and distance to water), special categories (e.g., repetitive loss), and any flood insurance requirements from prior disaster aid.
- Information Sharing: FEMA must share relevant data with insurers issuing NFIP policies.
- Flood Insurance Information Tool: Within 36 months, FEMA must create an online tool accessible to the public (for non-sensitive data) and property owners, including premiums, risk rates, flood history, claim details, and mitigation options. Users can adjust variables to see how changes affect risk and premiums.
- Additional Reporting: FEMA must annually publish online premium rate distributions (median, mean, quartiles) by state, county, and ZIP code.
- GAO Report: Within two years of the tool's launch, the Government Accountability Office must evaluate potential expansions, such as adding property acquisition programs, nature-based solutions, flood defenses, and appeals procedures.
Significant Changes to Existing Law The bill replaces Section 1313 of the National Flood Insurance Act of 1968 with expanded requirements for premium disclosures and creates a new public information tool. It introduces mandatory detailed rating factor breakdowns and flood history data, which were not previously required on policy documents or in a centralized online format. It also overrides certain Privacy Act restrictions for tool access where appropriate.
Potential Impacts
- Government Agencies: FEMA must develop and maintain a new online tool, update policy documents, and share data with private insurers, potentially increasing administrative workload.
- Citizens: Property owners and buyers gain greater access to personalized flood risk and cost information, supporting informed decisions on insurance and mitigation.
- International Relations: None identified in the legislation.
Main Stakeholders Affected
- FEMA and the NFIP Administrator.
- Current and prospective NFIP policyholders and property owners.
- Private insurers participating in the NFIP.
- The Government Accountability Office.
- State and local governments involved in flood management or Community Rating System participation.
Notable Legal, Constitutional, or Political Implications The bill includes explicit safeguards for personally identifiable information and references exemptions under existing statutes, addressing privacy concerns. It promotes public access to government-held data while balancing confidentiality, with no apparent constitutional conflicts. The GAO review requirement suggests ongoing congressional oversight of NFIP operations.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (3)
Rep. Carter, Troy A. [D-LA-2], Rep. Bresnahan, Robert P. [R-PA-8], Rep. Ezell, Mike [R-MS-4]
Recent Actions
- 2026-06-29: Referred to the House Committee on Financial Services.
- 2026-06-29: Introduced in House
- 2026-06-29: Introduced in House
Bill Versions
- NFIP Premium Transparency Act — issued 2026-06-29 — PDF (13 pages)