legislation: 117-hr-7643

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
117-hr-7643 117 hr 7643 FAITH Act of 2022 Finance and Financial Sector 2022-05-03 2022-05-03 Referred to the House Committee on Financial Services. House Rep. Crist, Charlie [D-FL-13] FL D C001111 3 Fueling Affordable Insurance for Today's Homeowners Act of 2022 or the FAITH Act of 2022 This bill establishes the Natural Disaster Risk Reinsurance Program within the Department of the Treasury. States may voluntarily participate in the program. The program provides payments to states for damages from a natural disaster not covered by the National Flood Insurance Program for amounts in excess of trigger amounts. These trigger amounts are calculated by the National Academy of Sciences. States must present a plan that ensures the coverage of losses by insurers not exceeding the trigger amount. States must also pledge to repay the full amount provided by the program within 10 years. 2022-12-29T23:48:33Z https://www.congress.gov/bill/117th-congress/house-bill/7643

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