The U.S. Senate voted yesterday to delay for four years “most flood insurance premium hikes resulting from a 2012 law.” Ramsey Cox reported for The Hill,

The Homeowner Flood Insurance Affordability Act, S. 1926, delays a required increase in flood insurance premiums for some homes and would allow homeowners to maintain existing flood insurance subsidies even after they are sold. Supporters of the bill say these changes are needed while the government studies whether homeowners can afford these higher costs.

In 2012, Congress passed flood insurance reform, the Biggert-Waters Act, to ensure the bankrupt program regained stability, but some lawmakers have complained that the law was ill-conceived because the new rates are too high for some people to stay in their homes.

S. 1926 would delay language that would immediately eliminate flood insurance subsidies for homes built before 1975 upon the sale of those homes. The bill would delay this trigger until the Federal Emergency Management Agency (FEMA) does an affordability study. FEMA would also have to certify that its flood maps are accurate, a process the agency has said could take three years.

Fourteen Republicans joined all of the Democrats present, including Senator Tom Harkin, to pass the bill by 67 votes to 32 (roll call). Senator Chuck Grassley was one of the no votes. Before the vote on final passage, the Senate rejected three amendments to the flood insurance bill (click through for details). Harkin opposed all three amendments, while Grassley voted for two of the GOP amendments and against a third. I have not seen any public comment from Iowa’s senators on this bill but will update this post as needed.