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DUXBURY —
Selectmen support proposed new legislation that would ease the fears of property owners worried about huge increases in their flood-insurance premiums.
The Homeowner Flood Insurance Affordabilty Act of 2013 would delay the implementation of certain provisions of the The Biggert-Waters Flood Insurance Reform Act of 2012 by requiring the Federal Emergency Management Agency to complete an affordability study.
Town Manager Rene’ Read said FEMA was required as part of the Biggert-Waters legislation to conduct an affordability study but negleded to do so. The study would take two years, followed by another for the development of a plan to address affordability issues.
“It effectively puts the breaks on for four years,” Selectman Ted Flynn said.
Selectmen unanimously voted to send a letter of support for the Homeowner Flood Insurance Affordability Act to the House of Representatives. The House legislation has 148 cosponsors, Read said, and a companion measure has been introduced in the Senate.
In the meantime, Read continues to stay up-to-date on the flood map appeal filed on behalf of the town in October. He said a response to the appeal has also been delayed.
The Biggert-Waters Flood Insurance Reform Act of 2012 phases in increased flood-insurance rates for homes in flood zones. Premiums have the potential to increase by 25 percent per year for the next four years until the full-risk rates are reached.
The law eliminates the subsidy that has protected homeowners from paying more for flood insurance while living in high-risk flood zones but is controversial because of the resulting high rate increases.
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