Cedar Rapids Gazette

March 25, 2009

House Passes Flood Program Requirement for Cities, Counties

By: Charlotte Eby

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That would allow homeowners and business owners located in the hazard areas to participate in a public flood insurance program that is much cheaper than private flood insurance, supporters said.

The measure passed on a 99-0 vote.

Rep. Tyler Olson, D-Cedar Rapids, said many property owners who saw damages from last year’s flooding did not have flood insurance.

“Because of that, the state, local governments and the federal government are going to incur a lot of costs in recovery and working to prevent the next disaster,” Olson said.

The bill doesn’t force property owners to purchase flood insurance, but makes them eligible to purchase it at a lower rate if they choose.

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Click HERE for the full article.

HF 759 saves Iowa taxpayer dollars in two ways.  One, Iowa property owners will be eligible for lower flood insurance premiums should they choose to purchase it.  Two, recovery costs are mitigated if more folks can afford insurance.  This bill now moves to the Senate.