Flood Insurance Update: Keeping Florida Home Owners Informed

This hot topic is changing from moment to moment.

Here's an important update for Useppa Island:

The bill was expected to come up today -- meaning it would need a two-thirds majority vote to pass. But members coming out of the GOP meeting yesterday morning said they did not think it had enough votes to clear that hurdle. GOP leaders are now refusing to run the bill through committee, and instead, are negotiating directly with the Democrats. Read the article

Prior Report from the Florida Association of Realtors

U.S. House releases its own flood insurance bill

WASHINGTON – Feb. 25, 2014 – Florida Gov. Rick Scott pressed for help in high places on flood insurance in a meeting with President Barack Obama on Monday, but the issue may be decided in the GOP-controlled U.S. House.

The issue has split some Republicans in coastal states like Florida from GOP hard-liners who say some folks need to pay significantly more to help the National Flood Insurance Program (NFIP) get out of $24 billion in debt and discourage building in flood-prone areas.

Congressional Democrats said there is no deal yet but one lawmaker said conversations with GOP leaders have been “productive.”

A new House version of a bill to address the problem could be considered as early as this week. It eliminates, not just delays, certain triggers for a huge, immediate jump in premiums, such as the sale of a home, a lapse in coverage or the remapping of flood zones. Read the report