HOUSE 1306118th CongressReferred to the House Committee on Financial Services.
Taxpayer Exposure Mitigation Act
- Last Action
- 3/1/2023
Actions
- 2023-03-01Referred to the House Committee on Financial Services.
- 2023-03-01Introduced in House
- 2023-03-01Introduced in House
CRS Summary
As of 2023-03-01 (00)
Taxpayer Exposure Mitigation Act
This bill requires the Federal Emergency Management Agency (FEMA) to annually transfer a portion of the risk from the National Flood Insurance Program (NFIP) to private reinsurance or capital markets. The amount of transferred risk must be based on a probable maximum loss target for NFIP established by FEMA each fiscal year.
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