• The bill would pare subsidies that support insurance bought for second homes and commercial properties built before flood mapping and regulation came into being.
• The Congressional Budget Office estimates that premiums would go up on about 440,000 policies that now cost an average of $1,174 annually.
• Support for the legislation includes the insurance industry, which argues that subsidized low rates prevent private-sector competition.

From the article: "Vacation homes and commercial properties in flood-prone areas could see their flood-insurance premiums more than double over a four-year period under a bill poised to clear the Senate this week. ..."