The bill aims to eliminate the mandatory flood insurance coverage requirement for commercial properties situated in flood hazard areas. It seeks to provide relief by removing this obligation and potentially reducing financial burdens on property owners. The main provision of the bill is the repeal of the mandatory flood insurance mandate for commercial properties in flood-prone regions. This change could have implications for property owners in terms of cost savings and insurance obligations.
2023-03-01: Introduced in House
2023-03-01: Referred to the House Committee on Financial Services.
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