Natural Disaster Risk Reinsurance Program Act

This bill would create a Natural Disaster Risk Reinsurance Program in the Department of the Treasury for disasters such as hurricanes, earthquakes, wildfires, and tornadoes occurring on or after January 1, 2026; floods covered by the National Flood Insurance Program are not included. States could choose to join. When insured home losses in a participating state from a disaster exceed a set trigger amount, the Treasury would pay the state the difference, funded by issuing federal bonds. The National Academy of Sciences would propose each state's trigger amounts, and states would have to repay the federal payments with interest within 10 years.

Full text and official record on Congress.gov

Sponsors

• Jared Moskowitz Democrat sponsor
• 0 cosponsors