Attorneys for 10 states and some Louisiana local governments hope a federal judge will block a new system for calculating rates for federal flood insurance.
The implications go beyond blows to the real estate market and tax revenue. Officials said lower revenue could also hamper flood prevention and mitigation efforts. And some federal disaster programs require people in certain areas to have flood insurance — which the officials argued is becoming unaffordable.
Florida, Idaho, Kentucky, Mississippi, Montana, North Dakota, South Carolina, Texas and Virginia are the other states listed as plaintiffs, along with some local governments and flood control bodies in Louisiana. A return to the old system of calculating premiums would not guarantee a reduction of rates, Justice Department attorney Yoseph Desta argued.
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