,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #abfg  ,,in ,,the ,,house ,,of  
,,representatives  ,march #ai1 #bjac    
,mr4 ,palazzo introduced the following  
bill2 which was referred to the         
,committee on ,financial ,services  ,a  
,,bill  ,to delay and phase-in increases
 in flood insurance premium rates under 
the national flood insurance program for
 certain properties1 and for other      
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,flood ,insurance   
,premium ,relief ,act of #bjac4  #b4    
,temporary delay of implementation and  
phase-in of premium rate increases for  
certain properties  7a7 ,newly purchased
 properties  7#a7 ,delay of             
implementation ,for any property that is
 purchased after ,july #f1 #bjab1 and   
before ,january #a1 #bjae1 the risk     
premium rate charged for flood insurance
 under the national flood insurance     
program under the ,national ,flood      
,insurance ,act of #aifh 7#db ,u4,s4,c4 
#djja et seq47 shall--  7,a7 during the 

#ab-month period beginning upon such    
purchase1 be the amount of such risk    
premium rate chargeable for such        
property immediately before such        
purchase2 and  7,b7 thereafter1 be a    
rate that is not less than those        
estimated under section #acjg7;a77#a7 of
 such ,act 7#db ,u4,s4,c4               
#djad7;a77#a771 as required by paragraph
 7#b7 of that section1 subject to       
paragraph 7#b7 of this subsection4  7#b7
 ,phase-in of increased rates ,upon the 
expiration of any #ab-month period      
referred to in paragraph 7#a77;,a7 with 
respect to any property1 any increase in
 the risk premium rate charged for flood
 insurance for such property that is a  
result of paragraph 7#a77;,b7 shall be  
phased in over a #aj-year period1 at the
 rate of #aj percent for each year      
following the expiration of such        
#ab-month period4  7b7 ,properties with 
new flood insurance rate maps  7#a7     
,delay of implementation ,for any       
property that is located in an area that

 is participating in the national flood 
insurance program under the ,national   
,flood ,insurance ,act of #aifh1 that is
 covered by a flood insurance policy on 
the date of a covered flood insurance   
rate map update1 and for which the risk 
premium rate charged for flood insurance
 for such property has increased1 or    
will increase1 as a result of such      
update1 the risk premium rate charged   
for flood insurance under the national  
flood insurance program shall1 during   
the #ab-month period beginning upon the 
effective date of such covered flood    
insurance rate map update1 be the amount
 of such risk premium rate chargeable   
for such property immediately before the
 effective date of such update4  7#b7   
,phase-in of increased rates ,upon the  
expiration of any #ab-month period      
referred to in paragraph 7#a7 with      
respect to any property1 any increase in
 the risk premium rate charged for flood
 insurance for such property that is a  
result of such covered flood insurance  

rate map update shall be phased in over 
a #aj-year period1 at the rate of #aj   
percent for each year following the     
expiration of such #ab-month period4    
7#c7 ,covered flood insurance rate map  
update ,for purposes of this subsection1
 the term covered flood insurance rate  
map update means any revision or        
updating of flood insurance rate maps   
under the ,national ,flood ,insurance   
,act of #aifh1 the ,flood ,disaster     
,protection ,act of #aigc 7#db ,u4,s4,c4
 #djjb et seq471 or the ,biggert-,waters
 ,flood ,insurance ,reform ,act of #bjab
 7subtitle ,a of title ,,ii of division 
,f of ,public ,law #aab-ada71 that takes
 effect after ,july #f1 #bjab1 and      
before ,january #a1 #bjae4  #c4         
,permanent phase-in of premium rate     
increases for certain properties  7a7   
,properties purchased in #bjae or after 
,paragraph 7#b7 of section #acjg7;g7 of 
the ,national ,flood ,insurance ,act of 
#aifh 7#db ,u4,s4,c4 #djad7;g77#b77 is  
amended by striking after the date of   

enactment of the ,biggert-,waters ,flood
 ,insurance ,reform ,act of #bjab and   
inserting the following3 on or after    
,january #a1 #bjae1 except that any     
increase in the risk premium rate       
charged for flood insurance resulting   
from this paragraph for any such        
property shall be phased in over a      
#aj-year period1 at the rate of #aj     
percent for each year following such    
purchase4  7b7 ,properties with new     
flood insurance rate maps effective in  
#bjae or after ,subsection 7h7 of       
section #acjh of the ,national ,flood   
,insurance ,act of #aifh 7#db ,u4,s4,c4 
#djae7;h77 is amended--  7#a7 in the    
first sentence1 by inserting before the 
period at the end the following3 and to 
section #b7;b7 of the ,flood ,insurance 
,premium ,relief ,act of #bjac2 and     
7#b7 in the second sentence--  7,a7 by  
striking ,any increase and inserting ,in
 the case of any such update that takes 
effect on or after ,january #a1 #bjae1  
any increase2 and  7,b7 by striking     

#e-year period1 at the rate of #bj      
percent and inserting #aj-year period1  
at the rate of #aj percent4