As the chairman of the Flood Insurance Work Group for the National Association of Realtors and a local real estate broker, I follow flood insurance legislation closely.
A recent article and letter to the editor make reference to a bill by Rep. Sean Duffy, R-Wisconsin, that is currently under consideration but has not yet reached the House floor for a vote. As late as this past Thursday, there have been major revisions to the draft that correct most of the grandfathering language. If those revisions stand, they will protect our homeowners from the onerous effects that were discussed in the article and letter.
In fairness, the proposals mentioned in the article and letter were included in the earlier versions of the bill, but through the efforts of groups like the National Association of Realtors and with the help of Congressman Steven Palazzo, the latest draft is much more acceptable. I have spoken with Congressman Palazzo and his staff on several occasions since the original draft of the legislation was released in late April and met with the Congressman in Washington in May. Congressman Palazzo took our concerns directly to Chairman Duffy and was instrumental in leading an effort to get 25 other members to express their concerns as well. While I am not in the business of defending our elected leaders, I think it is important to set the record straight.