WASHINGTON–Legislation that would require some homeowners whose houses are valued at more than $600,000 to pay actuarially based rates for government flood insurance is set for a vote on the House floor tomorrow.

The legislation (H.R. 3959) is aimed specifically at homes that predate the flood insurance rate map, or FIRM, and are purchased for more than $600,000 after the bill is signed into law. Because they predate the federal flood maps, which took effect in 1974, such properties have come with lower rates for their flood coverage, which critics have said amounts to a subsidy.

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