Proactive Federal Legislation Focused on Consumers Needs

• H.R. 308 - Hurricane and Tornado Mitigation Investment Act of 2009 – amends the IRS code to provide a credit against tax for hurricane and tornado mitigation expenditures.

Federal Legislation Burdening Taxpayers

• H.R. 2555 - Homeowners' Defense Act of 2009 - creates a federal consortium to assist state reinsurance programs in ceding their risk to the reinsurance and capital market, requires federal guarantees of state reinsurance fund debt obligations, requires federal low interest loans to state reinsurance funds and creates a new federal natural catastrophe reinsurance fund.
• H.R. 83 - Homeowners Insurance Protection Act of 2009 – inserts government into private insurance market by creating a federal backstop for state-run reinsurance funds.
• H.R. 1264 - Multiple Peril Insurance Act of 2009 – amends National Flood Insurance Program to add coverage for damage resulting from windstorms in addition to floods.
• S. 505 - Homeowners' Defense Act of 2009 - creates a federal consortium to assist state reinsurance programs in ceding their risk to the reinsurance and capital market, requires federal low interest loans to state reinsurance funds and creates a new federal natural catastrophe reinsurance fund.