H.R. 3125: Earthquake Insurance Affordability Act

112th Congress · introduced 2011-10-06 · 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 2011-10-06 · official record
Who proposed it: Rep. Campbell, John [R-CA-48] · 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

Earthquake Insurance Affordability Act

Plain summary

Earthquake Insurance Affordability Act - Authorizes the Secretary of the Treasury to guarantee holders of debt against loss of principal or interest, or both, on debt issued by eligible state programs designed to: (1) promote the availability of private capital to provide liquidity and capacity to state earthquake (specifically, residential property) insurance programs, and (2) expedite the payment of claims under such programs and better assist financial recovery from significant earthquakes. Prescribes operational requirements for eligible state programs which include an established earthquake insurance program that: (1) offers residential property insurance coverage for insured losses to property, contents, and additional living expenses; and (2) does not require insurers to pool resources to provide property insurance coverage for earthquakes. Includes among such operational requirements that the state: (1) has in effect and enforces, or the appropriate local governments within the state have in effect and enforce, nationally recognized building, seismic-design, and safety codes and consensus-based standards; and (2) has taken actions to establish an insurance rate structure that takes into account measures to mitigate insured losses. Directs the Secretary to establish procedures for certification of an eligible state program. Limits to $5 billion, including interest, the aggregate principal amount of outstanding debt obligations guaranteed by the Secretary. Makes appropriations to satisfy debt guarantee commitments. Requires the Secretary, upon request of an eligible state program, to provide such debt guarantees. Pledges the full faith and credit of the United States to the payment of all guarantees issued under this Act.

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

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A “Nay” vote

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PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Earthquake Insurance Affordability Act

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. Campbell, John [R-CA-48] · 28 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Ken Calvert (R-CA), Judy Chu (D-CA), John Garamendi (D-CA), Adam B. Schiff (D-CA), Jim Costa (D-CA), Zoe Lofgren (D-CA), Mike Thompson (D-CA), Doris O. Matsui (D-CA)

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)

Appropriation: Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
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.

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-112hr3125.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>

Record fed-us-cong112-hr3125 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112