HR 3191 · 103th Congress · Emergency Management
National Flood Insurance Reform Act of 1994
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House Vote4
Senate5
EnactedLatest: Received in the Senate and read twice and referred to the Committee on Banking.(1994-05-04)
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TABLE OF CONTENTS: Title I: Definitions Title II: Compliance and Increased Participation Title III: Ratings and Incentives for Community Floodplain Management Programs Title IV: Mitigation of Flood and Erosion Risks Title V: Flood Insurance Task Force Title VI: Miscellaneous Provisions National Flood Insurance Reform Act of 1993 - Title I: Definitions - Defines specified terms under the Flood Disaster Protection Act of 1973 and the National Flood Insurance Act of 1968. Title II: Compliance and Increased Participation - Amends the Flood Disaster Protection Act of 1973 to require the Secretary of Housing and Urban Development (HUD) to: (1) prohibit any lending institution from making, increasing, extending, or renewing any loan for real estate in a special flood hazards area unless such real estate is covered by flood insurance under the National Flood Insurance Act of 1968; and (2) direct the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation to implement procedures to achieve those results. Prohibits any other Federal agency lender from making such a loan for appropriate real estate not covered by such flood insurance. Requires residential real est…
Summarized by Claude AI · Non-partisan · For informational purposes only