Kansas Senator Jerry Moran says a bill in the Senate Banking Committee may reform the law on federal levees and make flood insurance cheaper for some people.
It is the Flood Insurance Reform and Modernization Act of 2011.
Moran has offered an amendment that would make flood insurance cheaper for people who live behind the levees during the period when the levees are in the final phase of construction.
In a news release, Moran stated, ?With fewer dollars flowing from Washington D.C., levee upkeep has become very much a local effort, and communities are digging deep to find the resources necessary to rehabilitate their aging flood protection systems,? Sen. Moran said. ?My amendment recognizes those communities who are making significant progress toward improving their levees and lowers the insurance rates for citizens living within that flood plain accordingly.?
The news release also says The maps the Federal Emergency Management Agency (FEMA) uses to assess whether or not a home or business lies within a 100-year flood plain are undergoing a massive update effort. As the new maps are completed, many citizens in Kansas and across the country may soon learn they are required to purchase flood insurance for the first time. The Moran Amendment provides financial relief to impacted residents as long as the community has secured the majority of the funding for the levee, more than 50 percent of the flood protection system is complete, and the reconstruction schedule lasts no more than five years.
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Source: http://20poundsofheadlines.wordpress.com/2011/09/13/moran-on-federal-levee-reform-flood-insurance/
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