ATLANTA (March 3, 2014) | Senate Resolution 747, the Biggert-Waters Flood Insurance Reform Act, passed the Senate today by a vote of 43 to 6. Sponsored by Senator William Ligon (R- Brunswick), this resolution urges the United States Congress to amend or repeal the Biggert-Waters Flood Insurance Reform Act of 2012.
“This resolution is an important first step toward restoring flood insurance premiums to an affordable level and eliminating the negative impact this act has had upon home values and the local community,” said Sen. Ligon. “I look forward to working with my colleagues to develop a decisive plan of action to ensure those living along our coastal areas are no longer burdened by exorbitant insurance rates.”
In July 2012, the United States Congress passed the Biggert-Waters Flood Insurance Reform Act. This act, which was created to modify the National Flood Insurance Program, is currently run by the Federal Emergency Management Agency (FEMA) and a few other supporting federal agencies. However, FEMA’s poor implementation, failure to do an affordability study, inaccurate mapping and incomplete data have all led to unreasonable increases in flood insurance premiums.
The resolution urges a complete repeal of this act and calls upon legislators to investigate strategies to make flood insurance premiums more affordable to home owners and businesses, especially those living along Georgia’s coastal areas.
SR 747 will now transfer to the House of Representatives for consideration.
For Immediate Release:
March 3, 2014
For Information Contact:
Jennifer Yarber, Director
Shawna Mercer, Sr. Communications Specialist
shawna.mercer@senate.ga.gov
404.656.0028