FIRST Cap Profits Act of 2016 Flood Insurance Reimbursement Standards Transparency Cap Profits Act of 2016
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HR 6434 — FIRST Cap Profits Act of 2016 Flood Insurance Reimbursement Standards Transparency Cap Profits Act of 2016
Last action — Referred to the House Committee on Financial Services.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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Died in session
This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
FIRST Cap Profits Act of 2016 Flood Insurance Reimbursement Standards Transparency Cap Profits Act of 2016 This bill requires the Federal Emergency Management Agency (FEMA) and the property and casualty insurance companies participating in the "Write Your Own" (WYO) flood insurance program under the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters Act) to implement and comply with the program's oversight and expense reimbursement requirements within one year after enactment of this bill. (The WYO program is a cooperative undertaking between the insurance industry and the Federal Insurance and Mitigation Administration that allows participating property and casualty insurance companies to write and service standard flood insurance policies.) The Biggert-Waters Act is amended to require FEMA to prohibit reimbursements to WYO insurers from exceeding 110% of the aggregate amount of the insurer's actual expenses for selling, writing, and servicing flood insurance policies and adjusting flood claims on behalf of the National Flood Insurance Program. The National Flood Insurance Act of 1968 is amended to require courts to award litigation costs to plaintiffs who prevail in civil actions for fraud or misrepresentation by an insurance company participating in the WYO program.
Bill Text
We don't have the full text on file for this bill yet.
Read HR 6434 on the official United States source →Action History
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Referred to the House Committee on Financial Services.
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Introduced in House
Sponsors
- Frank Pallone · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 546 not signed on
Sponsors (1)
Co-sponsors (0)
None.
Not signed on (546)
546 members have not signed on to this bill.
Show all 546 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- What does HR 6434 do?
- FIRST Cap Profits Act of 2016 Flood Insurance Reimbursement Standards Transparency Cap Profits Act of 2016 This bill requires the Federal Emergency Management Agency (FEMA) and the property and casualty insurance companies participating in the "Write Your Own" (WYO) flood insurance program under the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters Act) to implement and comply with the program's oversight and expense reimbursement requirements within one year after enactment of this bill. (The WYO program is a cooperative undertaking between the insurance industry and the Federal Insurance and Mitigation Administration that allows participating property and casualty insurance companies to write and service standard flood insurance policies.) The Biggert-Waters Act is amended to require FEMA to prohibit reimbursements to WYO insurers from exceeding 110% of the aggregate amount of the insurer's actual expenses for selling, writing, and servicing flood insurance policies and adjusting flood claims on behalf of the National Flood Insurance Program. The National Flood Insurance Act of 1968 is amended to require courts to award litigation costs to plaintiffs who prevail in civil actions for fraud or misrepresentation by an insurance company participating in the WYO program.
- Who sponsors HR 6434?
- HR 6434 is sponsored by Frank Pallone (D).
- What is the current status of HR 6434?
- This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track HR 6434?
- Track HR 6434 free on One Click Politics — get push/email alerts when it moves.
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