Homeowners' Defense Act of 2007

HOMEOWNERS' DEFENSE ACT OF 2007 -- (House of Representatives - November 08, 2007)

BREAK IN TRANSCRIPT

Mr. BILIRAKIS. Mr. Chairman, in the early morning hours of August 29, 2005, a catastrophe obliterated New Orleans. The ocean had breached the city's levees and our Nation looked on while tens of thousands clung to rooftops. Hundreds of thousands of Americans were suddenly homeless and scattered across the country. Many coastal States have been in crisis ever since, including my home State of Florida.

Upon arriving in Congress this year, I introduced two bills to help with this crisis. One bill would strongly encourage homeowners to hurricane-proof their homes by providing a tax credit for the cost of specific home modifications. The second bill I introduced would authorize Gulf Coast States to enter into an interstate compact to pool their resources and spread the risk of disaster.

Today, I am pleased to have an opportunity to vote on H.R. 3355, the Homeowners' Defense Act. This important legislation authorizes loans to States that will have to be repaid to the Treasury. This is a fiscally sound approach to disaster planning. Further, Chairman Frank, with my colleague, Ms. Brown-Waite, who has been working on this issue for 4 years, and the sponsors of this bill, and as a result of genuine bipartisanship, the manager's amendment will implement a critically needed Federal catastrophe fund.

I thank the sponsors of this legislation, and I thank the chairman and Ms. Brown-Waite for their efforts in bringing this bill to the floor. I strongly encourage my colleagues to vote for this bill and the manager's amendment and protect Americans from the devastating effects of natural disasters.

BREAK IN TRANSCRIPT

Source