WeVote
Log In

Bill

Bill

LD 652

An Act To Provide Qualifying Downtown Businesses And Developments With Assistance Paying Flood Insurance Premiums

132nd Legislature (2025-2026) Introduced by Lynn Copeland and 8 co-sponsors

Provides financial assistance to pay flood insurance premiums for qualifying downtown businesses and developments located in flood-prone areas.

Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD)
#catastrophic #floodinsurancepremiums #insurance
0
WeVote Research Nonpartisan
Bill Summary · LD 652

Summary of LD 652: An Act To Provide Qualifying Downtown Businesses And Developments With Assistance Paying Flood Insurance Premiums

Overview

  • Bill number and title: LD 652 — An Act To Provide Qualifying Downtown Businesses And Developments With Assistance Paying Flood Insurance Premiums
  • Purpose (as described by title and subject): to provide assistance paying flood insurance premiums for qualifying downtown businesses and developments.
  • Status: DEAD. Placed in Legislative Files pursuant to Joint Rule 310.3 on April 10, 2025.
  • Introduced: February 20, 2025
  • Committee: Taxation
  • Subject area: Catastrophic, flood insurance premiums; Insurance

What the bill would do

  • Provide financial assistance to pay flood insurance premiums for qualifying downtown businesses and developments.
  • The specific design of eligibility, the amount of assistance, duration, funding source, and administration are not detailed in the available materials.

Key provisions and details (as available)

  • The available documents do not include the bill’s text, so the exact eligibility criteria, benefit amounts, caps, sunset provisions, or administration mechanisms are not specified here.
  • Fiscal note (Preliminary): The Preliminary Fiscal Impact Statement indicates “No fiscal impact.” This suggests the analysis at the time did not identify a net cost to the state, though the absence of text limits understanding of how such an assessment was reached (e.g., whether any funding was assumed or offsets existed).

Who would be affected

  • Qualifying downtown businesses and developments located in flood-prone areas that would be eligible to receive assistance paying flood insurance premiums.
  • Insurers and administrative entities would be involved insofar as premiums are paid and transfers or reimbursements are processed, subject to the bill’s eventual administrative framework (not specified in the provided materials).

Procedural and timeline details

  • February 20, 2025: Bill received by the Clerk and referred to the Committee on Taxation (Joint Rule 308.2); ordered printed (Joint Rule 401).
  • March 19, 2025: Work session held; bill voted ONTP (Ought Not To Pass).
  • March 21, 2025: Carried over, in the same posture, to the next special or regular session, pursuant to Joint Order SP 519.
  • April 9, 2025: Reported Out - ONTP.
  • April 10, 2025: Pursuant to Joint Rule 310.3, placed in Legislative Files (DEAD) indicating the bill did not advance in the current session.

Observations and context

  • The bill did not progress beyond committee and reporting stages and is currently inactive for the 132nd Legislature, with no fiscal impact reported in the preliminary note.
  • If a similar concept is pursued in the future, stakeholders would likely want details on eligibility (e.g., which downtown areas qualify, criteria for “developments”), the measure of assistance (premium subsidies or reimbursements), funding sources (state program, grants, or redirected funds), and administrative processes (application, verification, and oversight).

If you’d like, I can compare this to similar flood-insurance subsidy proposals or outline what a full bill text would need to include to be considered administrable and fiscally accountable.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.