H.R. 2582: Homeowners' Defense Act of 2011

112th Congress · introduced 2011-07-19 · Finance and Financial Sector · Latest: Referred to the Subcommittee on Insurance, Housing and Community Opportunity.

federal

Follow this bill, step by step

Where it came from: introduced 2011-07-19 · official record
Who proposed it: Rep. Wilson, Frederica S. [D-FL-17] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Subcommittee on Insurance, Housing and Community Opportunity. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Homeowners' Defense Act of 2011

Plain summary

Homeowners' Defense Act of 2011 - Establishes the National Catastrophe Risk Consortium as a nonprofit, nonfederal entity to: (1) maintain an inventory of catastrophe risk obligations held by state reinsurance funds, state residual insurance market entities, and state-sponsored providers of natural catastrophe insurance; (2) issue, on a conduit basis, securities and other financial instruments linked to catastrophe risks insured or reinsured through Consortium members; (3) coordinate reinsurance contracts; (4) act as a centralized repository of state risk information accessible by certain private-market participants; and (5) establish a database to perform research and analysis that encourages standardization of the risk-linked securities market. Shields the federal government and the Consortium from liability for Consortium actions. Authorizes the Secretary of the Treasury to guarantee holders of debt against loss of principal or interest, or both, on debt issued by certain eligible state programs Provides separate limits on the total principal amount of such obligations for programs that cover earthquake peril and those that cover all other perils. Subjects the catastrophic debt guarantee to specified requirements. Directs the Secretary to make contracts for reinsurance coverage available for purchases only by eligible state programs. Sets pricing guidelines and limits aggregate potential federal liability. Establishes a Federal Natural Catastrophe Reinsurance Fund. Directs the Secretary of Housing and Urban Development (HUD) to establish a grants program for eligible entities to develop, enhance, or maintain programs to prevent and mitigate losses from natural catastrophes. Directs the Comptroller General to study: (1) risk-based insurance rate pricing; and (2) rates for state insurance, reinsurance, or residual market programs that fail to cover the expected value of all future associated costs.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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A “Nay” vote

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What does this mean? (plain words)

Official text

Homeowners' Defense Act of 2011

Source: Congressional Research Service summary (Introduced in House)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Wilson, Frederica S. [D-FL-17] · 0 cosponsors

Cost estimate: No cost estimate published yet.

Sponsor's campaign money: Rep. Wilson, Frederica S. [D-FL-17] reported raising $170,085 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Obligation: A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112hr2582.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>

Record fed-us-cong112-hr2582 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112