Keeping Homeownership Costs Down Act
The Keeping Homeownership Costs Down Act would amend the National Flood Insurance Act of 1968 to bar FEMA from deferring the issuance of two types of map revisions—Letters of Map Revision (LOMA) and conditional LO MR (CLOMR)—when the basis for the revision is the placement of fill. In short, if a property’s flood risk map would be updated because of fill work, FEMA could not delay issuing that revision. The bill also adds a repeal trigger: once FEMA fully implements the related Endangered Species Act (ESA) biological opinions (from the Fish and Wildlife Service and NOAA Fisheries) regarding these LOMA and CLOMR actions, the amendment would be repealed. Sponsors include Rep. LaMalfa (joined by Reps. Matsui and Kim) and the bill was introduced in the 119th Congress. The intended effect is to prevent delays in map revisions that could change whether a property is in a floodplain (SFHA) and, consequently, its flood insurance requirements and costs. The repeal tied to ESA implementation means the measure is temporary in nature and dependent on environmental compliance milestones.
Key Points
- 1Prohibition on deferral: The bill adds a new subsection to Section 1360 that bars the Administrator from deferring the issuance of LO MAs or CLOMRs based on the placement of fill.
- 2Scope of the rule: The prohibition does not eliminate FEMA’s authority to review, determine, or issue these letters; it only prevents delaying issuance.
- 3Repeal trigger: The modification is repealed once FEMA fully implements the referenced ESA-required biological opinions regarding these LOMA/CLOMR actions.
- 4Legal basis and focus: The changes pertain to the National Flood Insurance Act of 1968, specifically addressing how LO MAs and CLOMRs tied to fill are processed.
- 5Purpose and terminology: The bill’s title—Keeping Homeownership Costs Down Act—highlights its aim to reduce potential flood-insurance-related costs by avoiding deferrals in map revisions that could affect insurance requirements.