The Biggert-Waters Act, passed by Congress last year, could do away with federal subsidies for people in flood-prone coastal communities, according to this article. The law was passed in an effort to shore up the National Flood Insurance Program. Such measures "will have a large impact on the cost of ownership. Part of the message we're trying to get out, especially to property owners whose homes were damaged by Hurricane Isaac, is to find any available methods to elevate now," said David Hiegel of the Federal Emergency Management Agency.
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