,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #cjac  ,,in ,,the ,,house ,,of  
,,representatives  ,august #b1 #bjac    
,mr4 ,cassidy 7for himself1 ,mr4        
,palazzo1 ,mr4 ,alexander1 ,mr4         
,boustany1 ,mr4 ,scalise1 ,mr4          
,nunnelee1 ,mr4 ,jones1 and ,mr4 ,grimm7
 introduced the following bill2 which   
was referred to the ,committee on       
,financial ,services  ,a ,,bill  ,to    
reform the ,national ,flood ,insurance  
,program1 and for other purposes4  #a4  
,short title ,this ,act may be cited as 
the ,home ,protection ,act of #bjac4    
#b4 ,mapping of non-structural flood    
mitigation features ,section #ajjbaf of 
the ,biggert-,waters ,flood ,insurance  
,reform ,act of #bjab 7#db ,u4,s4,c4    
#daja;b7 is amended--  7#a7 in          
subsection 7b77#a77;,a7--  7,a7 in      
clause 7iv71 by striking and at the end2
  7,b7 by redesignating clause 7v7 as   
clause 7vi72  7,c7 by inserting after   
clause 7iv7 the following new clause3   
7v7 areas that are protected by pumping 

stations1 decertified levees1 or        
non-,federal or non-structural flood    
protection measures2 and  2 and  7,d7 in
 clause 7vi7 7as so redesignated71 by   
striking flood control structures and   
inserting flood control structures1     
pumping stations1 decertified levees1 or
 non-,federal or non-structural flood   
mitigation measures2 and  7#b7 in       
subsection 7d77#a7--  7,a7 by           
redesignating subparagraphs 7,a7 through
 7,c7 as subparagraphs 7,b7 through     
7,d71 respectively2 and  7,b7 by        
inserting before subparagraph 7,b7 7as  
so redesignated7 the following new      
subparagraph3  7,a7 work with ,states1  
local communities1 and property owners  
to identify areas and measures described
 in subsection 7b77#a77;,a77v72  4  #c4 
,applying circular wind models to flood 
insurance rate maps ,section            
#ajjbaf7;b77#c7 of the ,biggert-,waters 
,flood ,insurance ,reform ,act of #bjab 
7#db ,u4,s4,c4 #daja;b7b77#c77 is       
amended--  7#a7 in subparagraph 7,d71 by

 striking and at the end2  7#b7 by      
redesignating subparagraph 7,e7 as      
subparagraph 7,f72 and  7#c7 by         
inserting after subparagraph 7,d7 the   
following new subparagraph3  7,e7 in    
consultation with the ,secretary of the 
,army1 acting through the ,chief of     
,engineers1 any relevant information    
that leads to the appropriate use of    
circular wind models for the application
 of stillwater elevation calculations2  
and  4  #d4 ,home improvement fairness  
,section #acjg7;a77#b77;,e77ii7 of the  
,national ,flood ,insurance ,act of     
#aifh 7#db ,u4,s4,c4                    
#djad7;a77#b77;,e77ii77 is amended by   
striking #cj percent and inserting #ej  
percent4  #e4 ,construction and         
restoration of flood protection systems 
7a7 ,adequate progress on construction  
of flood protection systems ,section    
#acjg7;e7 of the ,national ,flood       
,insurance ,act of #aifh 7#db ,u4,s4,c4 
#djad7;e77 is amended--  7#a7 in the    
first sentence1 by inserting or         

reconstruction after construction2  7#b7
 in the second sentence1 by striking    
construction of a flood protection      
system as required herein has been only 
if and inserting construction or        
reconstruction of a flood protection    
system has been made only if1 based on  
the present value of the completed      
system2 and  7#c7 by adding at the end  
the following new sentence3 ,the        
,administrator shall not consider the   
level of ,federal funding of or         
participation in the construction or    
reconstruction of a flood protection    
system in determining whether adequate  
progress on such construction has been  
made44  7b7 ,communities restoring      
disaccredited flood protection systems  
,section #acjg7;f7 of the ,national     
,flood ,insurance ,act of #aifh 7#db    
,u4,s4,c4 #djad7;f77 is amended in the  
first sentence by striking no longer    
does so4 and inserting the following3 no
 longer does so1 and shall apply without
 regard to the level of ,federal funding

 of or participation in the restoration 
of the flood protection system44  #f4   
,state and local government flexibility 
,the ,national ,flood ,insurance ,act of
 #aifh 7#db ,u4,s4,c4 #djja et seq47 is 
amended by inserting after section #acjh
 the following3  #acjh;,a4 ,state and   
local government flexibility  7a7 ,in   
general ,the ,administrator shall issue 
regulations to establish a means by     
which a ,state or local government may1 
on its own accord or in conjunction with
 other ,state or local governments1     
submit such payments to the             
,administrator as are necessary to cover
 part or all of the cost of any premium 
for any property within the jurisdiction
 of the ,state or local government4  7b7
 ,risk premium rate ,the ,administrator 
shall1 under the regulations issued     
under subsection 7a71 require that the  
amount of any payment from a ,state or  
local government under such regulations 
be consistent with sections #acjg and   
#acjh4  4  #g4 ,appropriate credit for  

flood control structures ,section #acfj 
of the ,national ,flood ,insurance ,act 
of #aifh 7#db ,u4,s4,c4 #daja7 is       
amended by adding at the end the        
following3  7k7 ,actual protection      
provided by levee systems ,the          
,administrator may not publish a flood  
insurance rate map or an update to a    
flood insurance rate map for an area    
unless--  7#a7 the flood insurance rate 
map or update adequately reflects the   
level of protection provided by any     
flood protection system for such area1  
including a pumping station1 decertified
 levee1 or non-,federal or              
non-structural flood mitigation measure1
 against the #ajj-year frequency flood1 
regardless of the accreditation status  
of the flood protection system2 or  7#b7
 the community for which a flood        
protection system provides protection   
elects not to provide the data necessary
 for the ,administrator to publish a    
flood insurance rate map or update that 
adequately reflects the protection      

provided by the flood protection system 
against the #ajj-year frequency flood4  
4  #h4 ,integration of revised levee    
analysis and mapping procedures         
,notwithstanding any other provision of 
law1 paragraphs 7#a7 and 7#b7 of section
 #acjg7;g7 of the ,national ,flood      
,insurance ,act of #aifh 7#db ,u4,s4,c4 
#djad7;g77 shall have no force or effect
 with respect to a property until--     
7#a7 the ,administrator of the ,federal 
,emergency ,management ,agency publishes
 or updates a flood insurance rate map  
for the area in which the property is   
located that adequately reflects the    
protection provided by any flood        
protection system for such area1        
including a pumping station1 decertified
 levee1 or non-,federal or              
non-structural flood mitigation measure1
 against the #ajj-year frequency flood1 
without regard to the accreditation     
status of the flood protection system2  
or  7#b7 the community in which such    
property is located elects not to       

provide the data necessary for the      
,administrator to publish a flood       
insurance rate map or update that       
adequately reflects the protection      
provided by any flood protection system1
 including a pumping station1           
decertified levee1 or non-,federal or   
non-structural flood mitigation measure4
  #i4 ,alternative approach for         
assessing and pricing flood risk ,it is 
the sense of the ,house of              
,representatives that--  7#a7 there     
should be established in the ,house of  
,representatives a ,bipartisan ,task    
,force on ,innovation in ,financing     
,flood ,risk with the primary purpose of
 compiling data and information on      
innovative market-based solutions to    
make flood insurance more accessible and
 affordable for all ,americans2 and     
7#b7 such ,task ,force should--  7,a7   
consult with flood risk management      
stakeholder groups1 insurers1           
reinsurers1 ,state regulators1 and      
financial experts knowledgeable and     

interested in finding innovative new    
rate methodologies and approaches to    
financing flood risk1 including         
insurance risk securitization2  7,b7    
compile information on existing risk    
assessment methodologies that--  7i7    
identify and standardize broader types  
of risks1 hazards1 structures1 and      
losses1 at a granular level1 faced by   
property owners and communities1 that   
helps investors1 buyers1 regulators1 and
 policymakers finding a methodology to  
facilitate transparency and liquidity   
while reducing risk and increasing asset
 value through the clear reduction of   
risk uncertainty2  7ii7 encourage       
transparency in the development of      
,flood ,insurance ,rate ,maps that the  
,federal ,emergency ,management ,agency 
uses to assign risk in flood-risk zones2
  7iii7 introduce financial or          
non-financial risk determination1       
analysis1 and valuation of individual   
mortgages and housing transactions in a 
unified approach that includes          

engineering structures and environmental
 risks in the pricing by risk elements  
of catastrophe-linked products2  7iv7   
integrate different approaches          
7financial1 actuarial1 and engineering7 
into one pricing framework that         
complements modern flood risk analysis  
and captures potential losses as        
accurately as possible2  7v7 granulate  
the risks and value and offer           
risk-differentiated and risk-specific   
solutions so that any differentiated    
risk can be redistributed and           
diversified in numerous ways2  7vi7     
explore transparency indexes that link  
monetary value to risk disclosure2 and  
7vii7 average national catastrophic     
insured losses and appropriately assign 
weights and risk values to equitably    
distribute catastrophic1 all-peril      
insurance risk2  7,c7 consider the      
relationship between new transparent1   
benchmark pricing of flood              
insurance-linked securitization and     
structured catastrophe derivatives that 

integrates engineering1 financial1 and  
actuarial parameters to reduce the cost 
of mitigating financial losses due to   
floods2  7,d7 evaluate options for--    
7i7 educating policyholders on methods  
for risk mitigation2  7ii7 integrating  
policyholder and capital market         
participants1 including investors1 in   
the entire risk-financing process to    
demonstrate or feature specific system  
measures that increase asset value2 and 
7iii7 expressing different ways to      
incentivize both the financial markets  
and the individual market participant to
 update all risk disclosures and        
risk-remediating actions on an          
individual basis2 and  7,e7 not later   
than #ahj days after the date of the    
enactment of this ,act1 report findings1
 options1 and recommendations to the    
,house of ,representatives with regard  
to the consideration of future          
flood-risk analysis and risk innovation 
in pricing4