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3/28 – Pallone, Menendez to Discuss Flood Insurance Reforms with Homeowners in Middletown Tomorrow

Written by The Two River Times. Posted in Breaking News

3/28 – Pallone, Menendez to Discuss Flood Insurance Reforms with Homeowners in Middletown Tomorrow

Published on March 27, 2014 with No Comments

MIDDLETOWN – Congressman Frank Pallone, Jr. , D-6, and Senator Robert Menendez, D-NJ, will meet with Middletown homeowners to discuss the benefits of the newly-enacted Homeowner Flood Insurance Affordability Act.

The bipartisan bill, which Pallone co-sponsored in the House and Menendez led in the Senate, was signed into law by President Obama last week. Pallone and Menendez will arrive at 1:30 p.m. the Tonya Keller Community Center, 50 Bray Ave., and then proceed to tour the neighborhood and speak with constituents.

The law, which passed both the House and Senate with overwhelming bipartisan support, will protect millions of homeowners, many of whom are still recovering from the devastation of Super Storm Sandy, from facing huge National Flood Insurance Program (NFIP) premium rate hikes.

The  law will ensure relief for homeowners living in flood prone regions thanks to key provisions, such as repealing certain rate increase “triggers,” lowering FEMA’s ability to increase rates, refunding excess premium charges to those who have paid significant rate increases and providing FEMA the funding necessary to complete an affordability study.

 

 

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