Apartment Trends Magazine May 2017 | Page 41

residents, prospective residents and employees that leave them vulnerable to cyber incidents. Currently, NAA/NMHC member companies must comply with a patchwork of 47 different state laws that govern this space. A centrist working group in the Senate has been trying to hammer out a compromise bill for two years and recently seized upon concerns raised over the Trump Administration actions rescinding broadband privacy regulations. This group includes Democratic Senators Carper, Feinstein, Warner, and GOP Senators Grassley, Thune and Blunt. The goal of their effort is to put together a compromise data security and breach notification package that could be palatable for the financial, retail, and main street-type industries and provide robust protection for consum- ers. While a deal has not yet been reached, it appears that discussions will continue over the next month and that bipartisan group could poten- tially release a draft bill in the near future before being considered by the Senate Commerce and Judiciary Committees. No substantial action has taken place in the House this year, yet NAA/ NMHC continue to raise the issue with both House and Senate leaders and express concerns about any legislation that imposes overly burden- some requirements on businesses without regard to their scope and size. NAA/NMHC continue to work to ensure that any proposal that moves forward recognizes the unique nature and needs of our industry while ensuring the data we use as a n industry is secure. Multifamily and Commercial Real Estate Groups Urge Reforms of Flood Program NAA/NMHC joined 14 other real estate trade groups in sending a letter to members of the House and Senate calling for the reauthorization of the National Flood Insurance Program (NFIP) and for reforms that would help the program better address the needs of the multifamily and commercial sectors. In the letter, the groups advocate for the adoption of many of NAA/NMHC’s priorities in the NFIP reauthorization, including: » » Expanding the private flood insurance market; » » Improving coverage options for multifamily and commercial property owners through the creation of Business Interruption coverage through the NFIP; » » Moving commercial and multifamily claims to Replacement Cost Value (RCV) as opposed to Actual Cost Value (ACV); » » Allowing for multiple buildings to be covered by one NFIP policy; » » Removing the federal mandatory purchase requirement for high-value properties, » » Increasing the accuracy of the FEMA flood mapping process and overhauling the map appeals process to make it far less costly to individual owners; and, » » Prioritizing more effective pre-flood mitigation and employ resources to help commercial and multifamily owners benefit from existing mitigation programs. The letter was sent in advance of the House Financial Services Com- mittee releasing its draft proposal for reauthorization, which is expected shortly. The NFIP expires on Sept. 30, with leaders of both the House and Senate committed to avoiding real estate market disruptions. www.aamdhq.org FLAGS BY SUSAN WWW.FLAGSBYSUSAN.COM ORDER ONLINE TODAY! • Custom Flags • Affordable Flagpoles for Apartments • No Helium Balloons • Banners / Signs • Quality U.S., State and Country Flags (303) 317-3612 NATURAL DOG PARK PRODUCTS Phone: 800-931-1562 www.GymsForDogs.com [email protected] MAY 2017 • TRENDS | 39