SB3649: Flood Risk Transparency for Homebuyers Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
A bill to require the Secretary of Housing and Urban Development to provide a disclosure notice to homebuyers of properties owned by the Department of Housing and Urban Development that are located in special flood hazard areas, and for other purposes.
Plain-language summary
This bill requires the federal Department of Housing and Urban Development (HUD) to tell homebuyers when HUD-owned properties are in areas at high risk of flooding. Special flood hazard areas are zones where the government has determined flooding is likely to occur. The bill affects people buying homes from HUD, which sells foreclosed and repossessed properties. The bill is currently in the introduction stage, meaning it has been formally submitted but not yet assigned to a for review.
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SB3649: Flood Risk Transparency for Homebuyers Act