HOUSE 471116th CongressReferred to the House Committee on Financial Services.

Taxpayer Exposure Mitigation Act

Last Action: 1/10/2019

Actions

2019-01-10Referred to the House Committee on Financial Services.
2019-01-10Introduced in House
2019-01-10Introduced in House

CRS Summary

As of 2019-01-10 (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.

Subjects

Disaster relief and insurance
Floods and storm protection
Insurance industry and regulation

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