Your eyes are not deceiving you! Flood insurance rates are going to once again be affordable for the majority of people on May 1, when the federal government’s insurance program begins to initiate changes that were passed in March. Rep. Michael G. Grimm (R,C,I-NY) issued the following statement praising FEMA’s announcement that the reforms in his bill to repeal catastrophic flood insurance rate increases will begin taking effect starting May 1, 2014:
“After pressuring FEMA to cut through the red tape, I’m grateful that the agency wasted no time in implementing the parts of my bill that undo the most catastrophic rate increases facing homeowners” Rep. Grimm said.
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