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Boehner open to offers on flood insurance overhaul

  By ANDREW TAYLOR

   Associated Press

     WASHINGTON — House Speaker John Boehner said Thursday that the GOP-controlled House won’t take up Senate legislation aimed at neutering a 2012 overhaul of the federal flood insurance program that is hitting homeowners with big premium hikes.

   However, he later said he hasn’t shut the door on reforming the program, Rep. Steven Palazzo’s office said.

   “Yesterday, the House  voted   in favor of measures that begin to ensure flood insurance is affordable and available   for those who need it,” Palazzo said in an emailed statement. “These are merely the first steps for flood insurance   reform.

   I continue to work with House leadership, including House Financial Services Chairman Jeb Hensarling, to bring broader,   more substantial flood insurance reforms to a vote as soon as possible.”

   Owners of vacation homes, frequently flooded properties and businesses are losing their subsidized insurance rates over time under the revamped program. Others can keep their subsidies but can’t pass them on when selling their houses, which has caused a disruption in home sales.

Homeowners whose properties are not considered to be in much danger of flooding face the prospect of huge   premium increases when the Federal Emergency Management Agency updates flood maps. A provision aimed at delaying rate increases for these “grandfathered” properties is included in the $1.1 trillion government-wide spending bill that’s was approved by the Senate and sent to President Barack Obama on Thursday.

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