Last week, FEMA said a recently enacted budget provision means that it won’t begin to implement higher rates for some flood insurance recipients until at least Oct., 2015, and perhaps as late as June, 2016.
In January 2014, the spending bill known as the Omnibus Appropriations Package, H.R. 3547, was passed. The spending bill blocks FEMA from spending any money for the remainder of this fiscal year. The delay is only for primary residences and grandfathered properties will continue to be grandfathered. This bill does not cover second homes, severe repetitive losses, and any business. This bill does not get rid of any of the triggers for higher rates such as a sale of a home or purchasing of a new policy
However, H.R. 3547 is only a short-term solution. The four-year delay, H.R. 3370, may get voted on next week in the house, but is expected to be heavily amended. We need to tell congress how critical a four-year delay is!
If you have not yet, please sign the Massachusetts Coastal Coalitions letter to congress:
Also, please help tell YOUR story! The more stories told, the more we push Congress to vote for a full four-year delay!