Flood Insurance Affordability Act passes House, left to Senate

Flood Insurance Affordability Act passes House, left to Senate
STAFF
Louisiana Politics
Wednesday, March 5, 2014 - 1:59pm

Help may be on the way for Louisiana homeowners now that the House has passed the "Homeowner Flood Insurance Affordability Act."

Its now up to the Senate to do the same.

The proposed law could help save "hundreds of thousands" of Louisiana homeowners from a huge spike in flood insurance rates.

Congressman Bill Cassidy helped draft the law.

He says if it passes this will be a bbig win for Louisiana families.

“So now you are going to have a cap on how much your premium can rise every year. The program is paid for so there is money being put into the trust fund in case there is a future disaster. And when you sell your house, if you chose to sell your house, the person purchasing it will have the same grandfathered rates as you,” Cassidy said.

There has been no word on when the Senate will vote on the flood insurance bill.

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