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Holly Springs Chatter

House Bill - H.R. 3572 - Should a coastal barrier in North Carolina be revised?

Dec 21, 2018 09:20PM ● By Chris Hendricks
This revision of boundaries would include the addition of 764 acres of land to the CBRS and exclude certain private sections of land. Private owners in about 30 structures affected by H.R. 3571 would be eligible for federal flood insurance.  

Impact

People with property near the North Carolina John H. Chafee Coastal Barrier Resources System (CBRS), Federal flood insurance agents.

Cost

$0.00
A CBO cost estimate found that the effect of this bill would have a negligible impact on federal spending. However, the CBO estimates that, relative to current law, implementing H.R. 3572 could increase premium collections of the National Flood Insurance Fund by less than $100,000 every year. Such collections would be offset by new mandatory spending for underwriting and administrative expenses and new flood insurance claims over the 2015-2024 period.

More Information

Media: 

(Photo Credit: Gary Brownell

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