2014 Homewowner Flood Insurance Affordability3/20/2014
The 2014 Homeowner Flood Insurance Affordabilty bill passed on March 15, 2014. The Menendez-Grimm bill restores “grandfathering” of policies located in communities with new flood maps. It also reinstates subsidies for pre-FIRM properties that are bought and sold. it halted the drastic increases in Flood insurance in conjunction with the new 100 year flood maps. Now it goes to the president for his signature.