,,ii ,calendar ,no4 #cag #aacth ,,congress #b;d ,session ,h4 ,r4 #ccgj ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,march #e1 #bjad,received2 read the first time ,march #f1 #bjad,read the second time and placed on the calendar ,,an ,,act ,to delay the implementation of certain provisions of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab1 and for other purposes4 #a4 ,short title and table of contents 7a7 ,short title ,this ,act may be cited as the ,homeowner ,flood ,insurance ,affordability ,act of #bjad4 7b7 ,table of contents ,the table of contents for this ,act is as follows3 ,sec4 #a4 ,short title and table of contents4 ,sec4 #b4 ,definitions4 ,sec4 #c4 ,repeal of certain rate increases4 ,sec4 #d4 ,restoration of grandfathered rates4 ,sec4 #e4 ,requirements regarding annual rate increases4 ,sec4 #f4 ,clarification of rates for properties newly mapped into areas with special flood hazards4 ,sec4 #g4 ,premiums and reports4 ,sec4 #h4 ,annual premium surcharge4 ,sec4 #i4 ,draft affordability framework4 ,sec4 #aj4 ,risk transfer4 ,sec4 #aa4 ,monthly installment payment for premiums4 ,sec4 #ab4 ,optional high-deductible policies for residential properties4 ,sec4 #ac4 ,exclusion of detached structures from mandatory purchase requirement4 ,sec4 #ad4 ,accounting for flood mitigation activities in estimates of premium rates4 ,sec4 #ae4 ,home improvement fairness4 ,sec4 #af4 ,affordability study and report4 ,sec4 #ag4 ,flood insurance rate map certification4 ,sec4 #ah4 ,funds to reimburse homeowners for successful map appeals4 ,sec4 #ai4 ,flood protection systems4 ,sec4 #bj4 ,quarterly reports regarding ,reserve ,fund ratio4 ,sec4 #ba4 ,treatment of floodproofed residential basements4 ,sec4 #bb4 ,exemption from fees for certain map change requests4 ,sec4 #bc4 ,study of voluntary community-based flood insurance options4 ,sec4 #bd4 ,designation of flood insurance advocate4 ,sec4 #be4 ,exceptions to escrow requirement for flood insurance payments4 ,sec4 #bf4 ,flood mitigation methods for buildings4 ,sec4 #bg4 ,mapping of non-structural flood mitigation features4 ,sec4 #bh4 ,clear communications4 ,sec4 #bi4 ,protection of small businesses1 non-profits1 houses of worship1 and residences4 ,sec4 #cj4 ,mapping4 ,sec4 #ca4 ,disclosure4 #b4 ,definitions ,for purposes of this title1 the following definitions shall apply3 7#a7 ,administrator ,the term ,administrator means the ,administrator of the ,federal ,emergency ,management ,agency4 7#b7 ,national ,flood ,insurance ,program ,the term ,national ,flood ,insurance ,program means the program established under the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djja et seq474 #c4 ,repeal of certain rate increases 7a7 ,repeal 7#a7 ,in general ,section #acjg7;g7 of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djad7;g77 is amended-- 7,a7 by striking paragraphs 7#a7 and 7#b72 7,b7 in paragraph 7#c71 by striking as a result of the deliberate choice of the holder of such policy and inserting 1 unless the decision of the policy holder to permit a lapse in flood insurance coverage was as a result of the property covered by the policy no longer being required to retain such coverage2 and 7,c7 by redesignating paragraphs 7#c7 and 7#d7 as paragraphs 7#a7 and 7#b71 respectively4 7#b7 ,effective ,date ,the ,administrator shall make available such rate tables1 as necessary to implement the amendments made by paragraph 7#a7 as if it were enacted as part of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab 7,public ,law #aab-ada2 #abf ,stat4 #ieg74 7#c7 ,implementation1 coordination1 and guidance 7,a7 ,facilitation of timely refunds ,to ensure the participation of ,write ,your ,own companies 7as such term is defined in section #ajjbjb7;a7 of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab 7#db ,u4,s4,c4 #djjd7;a771 the ,administrator and the ,federal ,emergency ,management ,agency shall consult with ,write ,your ,own companies throughout the development of guidance and rate tables necessary to implement the provisions of and the amendments made by this ,act4 7,b7 ,implementation and guidance ,the ,administrator shall issue final guidance and rate tables necessary to implement the provisions of and the amendments made by this ,act not later than eight months following the date of the enactment of this ,act4 ,write ,your ,own companies1 in coordination with the ,federal ,emergency ,management ,agency1 shall have not less than six months but not more than eight months following the issuance of such final guidance and rate tables to implement the changes required by such final guidance and rate tables4 7#d7 ,refund of excess premium charges collected ,the ,administrator shall refund directly to insureds any premiums for flood insurance coverage under the ,national ,flood ,insurance ,program collected in excess of the rates required under the provisions of and amendments made by this section4 ,to allow for necessary and appropriate implementation of such provisions and amendments1 any premium changes necessary to implement such provisions and amendments1 including any such premium refund due to policy holders1 which shall be paid directly by the ,national ,flood ,insurance ,program1 shall not be charged or paid to policyholders by the ,national ,flood ,insurance ,program until after the ,administrator issues guidance and makes available such rate tables to implement the provisions of and amendments made by this ,act4 7b7 ,assumption of policies at existing premium rates ,the ,administrator shall provide that the purchaser of a property that1 as of the date of such purchase1 is covered under an existing flood insurance policy under this title may assume such existing policy and coverage for the remainder of the term of the policy at the chargeable premium rates under such existing policy4 ,such rates shall continue with respect to such property until the implementation of subsection 7a74 #d4 ,restoration of grandfathered rates 7a7 ,in general ,section #acjh of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djae7 is amended-- 7#a7 by striking subsection 7h72 and 7#b7 by redesignating subsection 7i7 as subsection 7h74 7b7 ,effective date ,the amendments made by subsection 7a7 shall take effect as if enacted as part of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab 7,public ,law #aab-ada2 #abf ,stat4 #ieg74 #e4 ,requirements regarding annual rate increases ,section #acjh7;e7 of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djae7;e77 is amended-- 7#a7 in the matter preceding paragraph 7#a71 by striking 1 the chargeable risk premium rates for flood insurance under this title for any properties2 7#b7 in paragraph 7#a71 by inserting the chargeable risk premium rates for flood insurance under this title for any properties before within any2 7#c7 in paragraph 7#b71 by inserting the chargeable risk premium rates for flood insurance under this title for any properties before described in2 7#d7 by redesignating paragraphs 7#a7 and 7#b71 as so amended1 as paragraphs 7#c7 and 7#d71 respectively2 and 7#e7 by inserting before paragraph 7#c71 as so redesignated1 the following new paragraphs3 7#a7 the chargeable risk premium rate for flood insurance under this title for any property may not be increased by more than #ah percent each year1 except-- 7,a7 as provided in paragraph 7#d72 7,b7 in the case of property identified under section #acjg7;g72 or 7,c7 in the case of a property that-- 7i7 is located in a community that has experienced a rating downgrade under the community rating system program carried out under section #acae7;b72 7ii7 is covered by a policy with respect to which the policyholder has-- 7,i7 decreased the amount of the deductible2 or 7,,ii7 increased the amount of coverage2 or 7iii7 was misrated2 7#b7 the chargeable risk premium rates for flood insurance under this title for any properties initially rated under section #acjg7;a77#b7 within any single risk classification1 excluding properties for which the chargeable risk premium rate is not less than the applicable estimated risk premium rate under section #acjg7;a77#a71 shall be increased by an amount that results in an average of such rate increases for properties within the risk classification during any #ab-month period of not less than #e percent of the average of the risk premium rates for such properties within the risk classification upon the commencement of such #ab-month period2 2 7#f7 in paragraph 7#c7 7as so redesignated by paragraph 7#d7 of this section71 by striking #bj percent and inserting #ae percent2 and 7#g7 in paragraph 7#d7 7as so redesignated7 by paragraph 7#d7 of this section71 by striking paragraph 7#a7 and inserting paragraph 7#c74 #f4 ,clarification of rates for properties newly mapped into areas with special flood hazards ,section #acjh of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djae71 as amended by the preceding provisions of this ,act1 is further amended by adding at the end the following new subsection3 7i7 ,rates for properties newly mapped into areas with special flood hazards ,notwithstanding subsection 7f71 the premium rate for flood insurance under this title that is purchased on or after the date of the enactment of this subsection-- 7#a7 on a property located in an area not previously designated as having special flood hazards and that1 pursuant to any issuance1 revision1 updating1 or other change in a flood insurance map1 becomes designated as such an area2 and 7#b7 where such flood insurance premium rate is calculated under subsection 7a77#a7 of section #acjg 7#db ,u4,s4,c4 #djad7;a77#a771 shall for the first policy year be the preferred risk premium for the property and upon renewal shall be calculated in accordance with subsection 7e7 of this section until the rate reaches the rate calculated under subsection 7a77#a7 of section #acjg4 4 #g4 ,premiums and reports ,section #acjh of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djae71 as amended by the preceding provisions of this ,act1 is further amended by adding at the end the following new subsection3 7j7 ,premiums and reports ,in setting premium risk rates1 in addition to striving to achieve the objectives of this title the ,administrator shall also strive to minimize the number of policies with annual premiums that exceed one percent of the total coverage provided by the policy4 ,for any policies premiums that exceed this one percent threshold1 the ,administrator shall report such exceptions to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate4 4 #h4 ,annual premium surcharge 7a7 ,premium surcharge ,chapter ,i of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djaa et seq47 is amended by inserting after section #acjh the following new section3 #acjh;,a4 ,premium surcharge 7a7 ,imposition and collection ,the ,administrator shall impose and collect an annual surcharge1 in the amount provided in subsection 7b71 on all policies for flood insurance coverage under the ,national ,flood ,insurance ,program that are newly issued or renewed after the date of the enactment of this section4 ,such surcharge shall be in addition to the surcharge under section #acjd7;b7 and any other assessments and surcharges applied to such coverage4 7b7 ,amount ,the amount of the surcharge under subsection 7a7 shall be-- 7#a7 #be1 except as provided in paragraph 7#b72 and 7#b7 #bej1 in the case of a policy for any property that is-- 7,a7 a non-residential property2 or 7,b7 a residential property that is not the primary residence of an individual4 7c7 ,termination ,subsections 7a7 and 7b7 shall cease to apply on the date on which the chargeable risk premium rate for flood insurance under this title for each property covered by flood insurance under this title1 other than properties for which premiums are calculated under subsection 7e7 or 7f7 of section #acjg or section #accf of this ,act 7#db ,u4,s4,c4 #djad1 #djef7 or under section #ajjbcj of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab 7#db ,u4,s4,c4 #djad note71 is not less than the applicable estimated risk premium rate under section #acjg7;a77#a7 for such property4 4 7b7 ,deposit in ,reserve ,fund ,subsection 7c7 of section #acaj;,a of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djag;a7 is amended by adding at the end the following new paragraph3 7#d7 ,deposit of premium surcharges ,the ,administrator shall deposit in the ,reserve ,fund any surcharges collected pursuant to section #acjh;,a4 4 #i4 ,draft affordability framework 7a7 ,in general ,the ,administrator shall prepare a draft affordability framework that proposes to address1 via programmatic and regulatory changes1 the issues of affordability of flood insurance sold under the ,national ,flood ,insurance ,program1 including issues identified in the affordability study required under section #ajjbcf of the ,bigger-,waters ,flood ,insurance ,reform ,act of #bjab 7,public ,law #aab-ada2 #abf ,stat4 #ieg74 7b7 ,criteria ,in carrying out the requirements under subsection 7a71 the ,administrator shall consider the following criteria3 7#a7 ,accurate communication to consumers of the flood risk associated with their properties4 7#b7 ,targeted assistance to flood insurance policy holders based on their financial ability to continue to participate in the ,national ,flood ,insurance ,program4 7#c7 ,individual or community actions to mitigate the risk of flood or lower the cost of flood insurance4 7#d7 ,the impact of increases in risk premium rates on participation in the ,national ,flood ,insurance ,program4 7#e7 ,the impact flood insurance rate map updates have on the affordability of flood insurance4 7c7 ,deadline for submission ,not later than #ah months after the date on which the ,administrator submits the affordability study referred to in subsection 7a71 the ,administrator shall submit to the full ,committee on ,banking1 ,housing1 and ,urban ,affairs and the full ,committee on ,appropriations of the ,senate and the full ,committee on ,financial ,services and the full ,committee on ,appropriations of the ,house of ,representatives the draft affordability framework required under subsection 7a74 7d7 ,interagency agreements ,the ,administrator may enter into an agreement with another ,federal agency to-- 7#a7 complete the affordability study referred to in subsection 7a72 or 7#b7 prepare the draft affordability framework required under subsection 7a74 7e7 ,rule of construction ,nothing in this section shall be construed to provide the ,administrator with the authority to provide assistance to homeowners based on affordability that was not available prior to the enactment of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab 7,public ,law #aab-ada2 #abf ,stat4 #iaf74 #aj4 ,risk transfer ,section #acde of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djha7 is amended by adding at the end the following new subsection3 7e7 ,risk transfer ,the ,administrator may secure reinsurance of coverage provided by the flood insurance program from the private reinsurance and capital markets at rates and on terms determined by the ,administrator to be reasonable and appropriate1 in an amount sufficient to maintain the ability of the program to pay claims4 4 #aa4 ,monthly installment payment for premiums 7a7 ,in general ,subsection 7g7 of section #acjh of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djae7;g77 is amended by striking either annually or in more frequent installments and inserting annually or monthly4 7b7 ,implementation ,the ,administrator shall implement the requirement under section #acjh7;g7 of the ,national ,flood ,insurance ,act of #aifh1 as amended by subsection 7a71 not later than the expiration of the #ah-month period beginning on the date of the enactment of this ,act4 #ab4 ,optional high-deductible policies for residential properties ,section #acjf of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djac771 as amended by the preceding provisions of this ,act1 is further amended by adding at the end the following new subsection3 7e7 ,optional high-,deductible policies for residential properties 7#a7 ,availability ,in the case of residential properties1 the ,administrator shall make flood insurance coverage available1 at the option of the insured1 that provides for a loss-deductible for damage to the covered property in various amounts1 up to and including #aj1jjj4 7#b7 ,disclosure 7,a7 ,form ,the ,administrator shall provide the information described in subparagraph 7,b7 clearly and conspicuously on the application form for flood insurance coverage or on a separate form1 segregated from all unrelated information and other required disclosures4 7,b7 ,information ,the information described in this subparagraph is-- 7i7 information sufficient to inform the applicant of the availability of the coverage option required by paragraph 7#a7 to applicants for flood insurance coverage2 and 7ii7 a statement explaining the effect of a loss-deductible and that1 in the event of an insured loss1 the insured is responsible out-of-pocket for losses to the extent of the deductible selected4 4 #ac4 ,exclusion of detached structures from mandatory purchase requirement 7a7 ,exclusion ,subsection 7c7 of section #ajb of the ,flood ,disaster ,protection ,act of #aigc 7#db ,u4,s4,c4 #djab;a7c77 is amended by adding at the end the following new paragraph3 7#c7 ,detached structures ,notwithstanding any other provision of this section1 flood insurance shall not be required1 in the case of any residential property1 for any structure that is a part of such property but is detached from the primary residential structure of such property and does not serve as a residence4 4 7b7 ,,respa statement ,section #e7;b7 of the ,real ,estate ,settlement ,procedures ,act of #aigd 7#ab ,u4,s4,c4 #bfjd7;b77 is amended-- 7#a7 in paragraph 7#ad71 by inserting before the period at the end the following3 1 and the following statement3 ,although you may not be required to maintain flood insurance on all structures1 you may still wish to do so1 and your mortgage lender may still require you to do so to protect the collateral securing the mortgage4 ,if you choose to not maintain flood insurance on a structure1 and it floods1 you are responsible for all flood losses relating to that structure42 and 7#b7 by transferring and inserting paragraph 7#ad71 as so amended1 after paragraph 7#ac74 #ad4 ,accounting for flood mitigation activities in estimates of premium rates ,subparagraph 7,a7 of section #acjg7;a77#a7 of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djad7;a77#a77;,a77 is amended to read as follows3 7,a7 based on consideration of-- 7i7 the risk involved and accepted actuarial principles2 and 7ii7 the flood mitigation activities that an owner or lessee has undertaken on a property1 including differences in the risk involved due to land use measures1 floodproofing1 flood forecasting1 and similar measures1 4 #ae4 ,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 #af4 ,affordability study and report 7a7 ,study issues ,subsection 7a7 of section #ajjbcf of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab 7,public ,law #aab-ada2 #abf ,stat4 #ieg7 is amended-- 7#a7 in paragraph 7#c71 by striking and at the end2 7#b7 in paragraph 7#d71 by striking the period at the end and inserting a semicolon2 and 7#c7 by adding at the end the following new paragraphs3 7#e7 options for maintaining affordability if annual premiums for flood insurance coverage were to increase to an amount greater than #b percent of the liability coverage amount under the policy1 including options for enhanced mitigation assistance and means-tested assistance2 7#f7 the effects that the establishment of catastrophe savings accounts would have regarding long-term affordability of flood insurance coverage2 and 7#g7 options for modifying the surcharge under #acjh;,a1 including based on homeowner income1 property value or risk of loss4 4 7b7 ,timing of submission ,notwithstanding the deadline under section #ajjbcf7;c7 of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab 7,public ,law #aab-ada2 #abf ,stat4 #ieg71 not later than #ah months after the date of enactment of this ,act1 the ,administrator shall submit to the full ,committee on ,banking1 ,housing1 and ,urban ,affairs and the full ,committee on ,appropriations of the ,senate and the full ,committee on ,financial ,services and the full ,committee on ,appropriations of the ,house of ,representatives the affordability study and report required under such section #ajjbcf4 7c7 ,affordability study funding ,section #ajjbcf7;d7 of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab 7,public ,law #aab-ada2 #abf ,stat4 #ieg7 is amended by striking #gej1jjj and inserting #b1ejj1jjj4 #ag4 ,flood insurance rate map certification ,the ,administrator shall implement a flood mapping program for the ,national ,flood ,insurance ,program1 only after review by the ,technical ,mapping ,advisory ,council1 that1 when applied1 results in technically credible flood hazard data in all areas where ,flood ,insurance ,rate ,maps are prepared or updated1 shall certify in writing to the ,congress when such a program has been implemented1 and shall provide to the ,congress the ,technical ,mapping ,advisory ,council review report4 #ah4 ,funds to reimburse homeowners for successful map appeals 7a7 ,in general ,section #acfc7;f7 of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #dajd7;f77 is amended-- 7#a7 in the first sentence1 by inserting after as the case may be1 the following3 or1 in the case of an appeal that is resolved by submission of conflicting data to the ,scientific ,resolution ,panel provided for in section #acfc;,a1 the community12 and 7#b7 by striking the second sentence and inserting the following3 ,the ,administrator may use such amounts from the ,national ,flood ,insurance ,fund established under section #acaj as may be necessary to carry out this subsection44 7b7 ,conforming amendments ,section #acaj7;a7 of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djag7;a77 is amended-- 7#a7 in paragraph 7#f71 by striking and at the end2 7#b7 in paragraph 7#g71 by striking the period at the end and inserting 2 and2 and 7#c7 by adding at the end the following3 7#h7 for carrying out section #acfc7;f74 4 #ai4 ,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 by amending the second sentence to read as follows3 ,the ,administrator shall find that adequate progress on the construction or reconstruction of a flood protection system1 based on the present value of the completed flood protection system1 has been made only if3 7#a7 #ajj percent of the cost of the system has been authorized2 7#b7 at least #fj percent of the cost of the system has been appropriated2 7#c7 at least #ej percent of the cost of the system has been expended2 and 7#d7 the system is at least #ej percent completed42 and 7#c7 by adding at the end the following3 ,notwithstanding any other provision of law1 in determining whether a community has made adequate progress on the construction1 reconstruction1 or improvement of a flood protection system1 the ,administrator shall consider all sources of funding1 including ,federal1 ,state1 and local funds44 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 by amending the first sentence to read as follows3 ,notwithstanding any other provision of law1 this subsection shall apply to riverine and coastal levees that are located in a community which has been determined by the ,administrator of the ,federal ,emergency ,management ,agency to be in the process of restoring flood protection afforded by a flood protection system that had been previously accredited on a ,flood ,insurance ,rate ,map as providing #ajj-year frequency flood protection but no longer does so1 and shall apply without regard to the level of ,federal funding of or participation in the construction1 reconstruction1 or improvement of the flood protection system44 #bj4 ,quarterly reports regarding ,reserve ,fund ratio ,subsection 7e7 of section #acaj;,a of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djag;a7 is amended1 in the matter preceding paragraph 7#a71 by inserting 1 on a calendar quarterly basis1 after submit4 #ba4 ,treatment of floodproofed residential basements ,the ,administrator shall continue to extend exceptions and variances for flood-proofed basements consistent with section #fj4f of title #dd1 ,code of ,federal ,regulations1 which are effective ,april #c1 #bjji2 and section #fj4c of such title1 which are effective ,april #c1 #bjji4 #bb4 ,exemption from fees for certain map change requests ,notwithstanding any other provision of law1 a requester shall be exempt from submitting a review or processing fee for a request for a flood insurance rate map change based on a habitat restoration project that is funded in whole or in part with ,federal or ,state funds1 including dam removal1 culvert redesign or installation1 or the installation of fish passage4 #bc4 ,study of voluntary community-based flood insurance options 7a7 ,study 7#a7 ,study required ,the ,administrator shall conduct a study to assess options1 methods1 and strategies for making available voluntary community-based flood insurance policies through the ,national ,flood ,insurance ,program4 7#b7 ,considerations ,the study conducted under paragraph 7#a7 shall-- 7,a7 take into consideration and analyze how voluntary community-based flood insurance policies-- 7i7 would affect communities having varying economic bases1 geographic locations1 flood hazard characteristics or classifications1 and flood management approaches2 and 7ii7 could satisfy the applicable requirements under section #ajb of the ,flood ,disaster ,protection ,act of #aigc 7#db ,u4,s4,c4 #djab;a72 and 7,b7 evaluate the advisability of making available voluntary community-based flood insurance policies to communities1 subdivisions of communities1 and areas of residual risk4 7#c7 ,consultation ,in conducting the study required under paragraph 7#a71 the ,administrator may consult with the ,comptroller ,general of the ,united ,states1 as the ,administrator determines is appropriate4 7b7 ,report by the ,administrator 7#a7 ,report required ,not later than #ah months after the date of enactment of this ,act1 the ,administrator shall submit to the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and the ,committee on ,financial ,services of the ,house of ,representatives a report that contains the results and conclusions of the study conducted under subsection 7a74 7#b7 ,contents ,the report submitted under paragraph 7#a7 shall include recommendations for-- 7,a7 the best manner to incorporate voluntary community-based flood insurance policies into the ,national ,flood ,insurance ,program2 and 7,b7 a strategy to implement voluntary community-based flood insurance policies that would encourage communities to undertake flood mitigation activities1 including the construction1 reconstruction1 or improvement of levees1 dams1 or other flood control structures4 7c7 ,report by ,comptroller ,general ,not later than #f months after the date on which the ,administrator submits the report required under subsection 7b71 the ,comptroller ,general of the ,united ,states shall-- 7#a7 review the report submitted by the ,administrator2 and 7#b7 submit to the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and the ,committee on ,financial ,services of the ,house of ,representatives a report that contains-- 7,a7 an analysis of the report submitted by the ,administrator2 7,b7 any comments or recommendations of the ,comptroller ,general relating to the report submitted by the ,administrator2 and 7,c7 any other recommendations of the ,comptroller ,general relating to community-based flood insurance policies4 #bd4 ,designation of flood insurance advocate 7a7 ,in general ,the ,administrator shall designate a ,flood ,insurance ,advocate to advocate for the fair treatment of policy holders under the ,national ,flood ,insurance ,program and property owners in the mapping of flood hazards1 the identification of risks from flood1 and the implementation of measures to minimize the risk of flood4 7b7 ,duties and responsibilities ,the duties and responsibilities of the ,flood ,insurance ,advocate designated under subsection 7a7 shall be to-- 7#a7 educate property owners and policyholders under the ,national ,flood ,insurance ,program on-- 7,a7 individual flood risks2 7,b7 flood mitigation2 7,c7 measures to reduce flood insurance rates through effective mitigation2 7,d7 the flood insurance rate map review and amendment process2 and 7,e7 any changes in the flood insurance program as a result of any newly enacted laws 7including this ,act72 7#b7 assist policy holders under the ,national ,flood ,insurance ,program and property owners to understand the procedural requirements related to appealing preliminary flood insurance rate maps and implementing measures to mitigate evolving flood risks2 7#c7 assist in the development of regional capacity to respond to individual constituent concerns about flood insurance rate map amendments and revisions2 7#d7 coordinate outreach and education with local officials and community leaders in areas impacted by proposed flood insurance rate map amendments and revisions2 and 7#e7 aid potential policy holders under the ,national ,flood ,insurance ,program in obtaining and verifying accurate and reliable flood insurance rate information when purchasing or renewing a flood insurance policy4 #be4 ,exceptions to escrow requirement for flood insurance payments 7a7 ,in general ,section #ajb7;d77#a7 of the ,flood ,disaster ,protection ,act of #aigc 7#db ,u4,s4,c4 #djab;a7d77#a77 is amended-- 7#a7 in subparagraph 7,a71 in the second sentence1 by striking subparagraph 7,c7 and inserting subparagraph 7,b72 and 7#b7 in subparagraph 7,b7-- 7,a7 in clause 7ii71 by redesignating subclauses 7,i7 and 7,,ii7 as items 7aa7 and 7bb71 respectively1 and adjusting the margins accordingly2 7,b7 by redesignating clauses 7i7 and 7ii7 as subclauses 7,i7 and 7,,ii71 respectively1 and adjusting the margins accordingly2 7,c7 in the matter preceding subclause 7,i71 as redesignated by subparagraph 7,b71 by striking 7,a7 or 7,b71 if-- and inserting the following3 87,a7-- 7i7 if-- 2 7,d7 by striking the period at the end and inserting 2 or2 and 7,e7 by adding at the end the following 7ii7 in the case of a loan that-- 7,i7 is in a junior or subordinate position to a senior lien secured by the same residential improved real estate or mobile home for which flood insurance is being provided at the time of the origination of the loan2 7,,ii7 is secured by residential improved real estate or a mobile home that is part of a condominium1 cooperative1 or other project development1 if the residential improved real estate or mobile home is covered by a flood insurance policy that-- 7aa7 meets the requirements that the regulated lending institution is required to enforce under subsection 7b77#a72 7bb7 is provided by the condominium association1 cooperative1 homeowners association1 or other applicable group2 and 7cc7 the premium for which is paid by the condominium association1 cooperative1 homeowners association1 or other applicable group as a common expense2 7,,iii7 is secured by residential improved real estate or a mobile home that is used as collateral for a business purpose2 7,,iv7 is a home equity line of credit2 7,v7 is a nonperforming loan2 or 7,,vi7 has a term of not longer than #ab months4 4 7b7 ,applicability 7#a7 ,in general 7,a7 ,required application ,the amendments to section #ajb7;d77#a7 of the ,flood ,disaster ,protection ,act of #aigc 7#db ,u4,s4,c4 #djab;a7d77#a77 made by section #ajjbji7;a7 of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab 7,public ,law #aab-ada2 #abf ,stat4 #ibj7 and by subsection 7a7 of this section shall apply to any loan that is originated1 refinanced1 increased1 extended1 or renewed on or after ,january #a1 #bjaf4 7,b7 ,optional application 7i7 ,definitions ,in this subparagraph-- 7,i7 the terms ,federal entity for lending regulation1 improved real estate1 regulated lending institution1 and servicer have the meanings given the terms in section #c of the ,flood ,disaster ,protection ,act of #aigc 7#db ,u4,s4,c4 #djjc72 7,,ii7 the term outstanding loan means a loan that-- 7aa7 is outstanding as of ,january #a1 #bjaf2 7bb7 is not subject to the requirement to escrow premiums and fees for flood insurance under section #ajb7;d77#a7 of the ,flood ,disaster ,protection ,act of #aigc 7#db ,u4,s4,c4 #djab;a7d77#a77 as in effect on ,july #e1 #bjab2 and 7cc7 would1 if the loan had been originated1 refinanced1 increased1 extended1 or renewed on or after ,january #a1 #bjaf1 be subject to the requirements under section #ajb7;d77#a77;,a7 of the ,flood ,disaster ,protection ,act of #aigc1 as amended2 and 7,,iii7 the term section #ajb7;d77#a77;,a7 of the ,flood ,disaster ,protection ,act of #aigc1 as amended means section #ajb7;d77#a77;,a7 of the ,flood ,disaster ,protection ,act of #aigc 7#db ,u4,s4,c4 #djab;a7d77#a77;,a771 as amended by-- 7aa7 section #ajjbji7;a7 of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab 7,public ,law #aab-ada2 #abf ,stat4 #ibj72 and 7bb7 subsection 7a7 of this section4 7ii7 ,option to escrow flood insurance payments ,each ,federal entity for lending regulation 7after consultation and coordination with the ,federal ,financial ,institutions ,examination ,council7 shall1 by regulation1 direct that each regulated lending institution or servicer of an outstanding loan shall offer and make available to a borrower the option to have the borrower's payment of premiums and fees for flood insurance under the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djja et seq471 including the escrow of such payments1 be treated in the same manner provided under section #ajb7;d77#a77;,a7 of the ,flood ,disaster ,protection ,act of #aigc1 as amended4 7#b7 ,repeal of #b-year delay on applicability ,subsection 7b7 of section #ajjbji of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab 7,public ,law #aab-ada2 #abf ,stat4 #ibj7 is repealed4 7#c7 ,rule of construction ,nothing in this section or the amendments made by this section shall be construed to supersede1 during the period beginning on ,july #f1 #bjab and ending on ,december #ca1 #bjae1 the requirements under section #ajb7;d77#a7 of the ,flood ,disaster ,protection ,act of #aigc 7#db ,u4,s4,c4 #djab;a7d77#a771 as in effect on ,july #e1 #bjab4 #bf4 ,flood mitigation methods for buildings 7a7 ,guidelines 7#a7 ,in general ,section #acfa of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #dajb7 is amended by adding at the end the following new subsection3 7d7 ,flood mitigation methods for buildings ,the ,administrator shall establish guidelines for property owners that-- 7#a7 provide alternative methods of mitigation1 other than building elevation1 to reduce flood risk to residential buildings that cannot be elevated due to their structural characteristics1 including-- 7,a7 types of building materials2 and 7,b7 types of floodproofing2 and 7#b7 inform property owners about how the implementation of mitigation methods described in paragraph 7#a7 may affect risk premium rates for flood insurance coverage under the ,national ,flood ,insurance ,program4 4 7#b7 ,issuance ,the ,administrator shall issue the guidelines required under section #acfa7;d7 of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #dajb7;d771 as added by the amendment made by paragraph 7#a7 of this subsection1 not later than the expiration of the #a-year period beginning on the date of the enactment of this ,act4 7b7 ,calculation of risk premium rates ,section #acjh of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djae71 as amended by the preceding provisions of this ,act1 is further amended by adding at the end the following new subsection3 7k7 ,consideration of mitigation methods ,in calculating the risk premium rate charged for flood insurance for a property under this section1 the ,administrator shall take into account the implementation of any mitigation method identified by the ,administrator in the guidance issued under section #acfa7;d7 7#db ,u4,s4,c4 #dajb7;d774 4 #bg4 ,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 non-structural flood mitigation features2 and 2 and 7,d7 in clause 7vi7 7as so redesignated71 by inserting before the semicolon at the end the following3 and by non-structural flood mitigation features2 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 7,b7 in subparagraph 7,c7 7as so redesignated71 by striking subparagraph 7,a7 and inserting subparagraph 7,b72 and 7,c7 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 features described in subsection 7b77#a77;,a77v72 4 #bh4 ,clear communications ,section #acjh of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djae71 as amended by the preceding provisions of this ,act1 is further amended by adding at the end the following new subsection3 7l7 ,clear communications ,the ,administrator shall clearly communicate full flood risk determinations to individual property owners regardless of whether their premium rates are full actuarial rates4 4 #bi4 ,protection of small businesses1 non-profits1 houses of worship1 and residences ,section #acjh of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djae71 as amended by the preceding provisions of this ,act1 is further amended by adding at the end the following new subsection3 7m7 ,protection of small businesses1 non-,profits1 houses of worship1 and residences 7#a7 ,report ,not later than #ah months after the date of the enactment of this section and semiannually thereafter1 the ,administrator shall monitor and report to ,committee on ,financial ,services of the ,house ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate1 the ,administrator's assessment of the impact1 if any1 of the rate increases required under subparagraphs 7,a7 and 7,d7 of section #acjg7;a77#b7 and the surcharges required under section #acjh;,a on the affordability of flood insurance for-- 7,a7 small businesses with less than #ajj employees2 7,b7 non-profit entities2 7,c7 houses of worship2 and 7,d7 residences with a value equal to or less than #be percent of the median home value of properties in the ,state in which the property is located4 7#b7 ,recommendations ,if the ,administrator determines that the rate increases or surcharges described in paragraph 7#a7 are having a detrimental effect on affordability1 including resulting in lapsed policies1 late payments1 or other criteria related to affordability as identified by the ,administrator1 for any of the properties identified in subparagraphs 7,a7 through 7,d7 of such paragraph1 the ,administrator shall1 not later than #c months after making such a determination1 make such recommendations as the ,administrator considers appropriate to improve affordability to the ,committee on ,financial ,services of the ,house ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate4 4 #cj4 ,mapping ,section #ajjbaf7;d77#a7 of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab 7#db ,u4,s4,c4 #daja;b7d77#a77 is amended-- 7#a7 in subparagraph 7,b7-- 7,a7 by striking subparagraph 7,a7 and inserting subparagraph 7,d72 and 7,b7 by striking and at the end2 7#b7 by redesignating subparagraphs 7,a71 7,b71 and 7,c7 as subparagraphs 7,d71 7,e71 and 7,g71 respectively2 7#c7 by inserting before subparagraph 7,b71 as so redesignated1 the following new subparagraphs3 7,a7 before commencement of any mapping or map updating process1 notify each community affected of the model or models that the ,administrator plans to use in such process and provide an explanation of why such model or models are appropriate2 7,b7 provide each community affected a #cj-;day period beginning upon notification under subparagraph 7,a7 to consult with the ,administrator regarding the appropriateness1 with respect to such community1 of the mapping model or models to be used2 provided that consultation by a community pursuant to this subparagraph shall not waive or otherwise affect any right of the community to appeal any flood hazard determinations2 7,c7 upon completion of the first ,independent ,data ,submission1 transmit a copy of such ,submission to the affected community1 provide the affected community a #cj-;day period during which the community may provide data to ,administrator that can be used to supplement or modify the existing data1 and incorporate any data that is consistent with prevailing engineering principles2 2 and 7#d7 by inserting after subparagraph 7,e71 as so redesignated1 the following new subparagraph3 7,f7 not less than #cj days before issuance of any preliminary map1 notify the ,senators for each ,state affected and each ,member of the ,house of ,representatives for each congressional district affected by the preliminary map in writing of-- 7i7 the estimated schedule for-- 7,i7 community meetings regarding the preliminary map2 7,,ii7 publication of notices regarding the preliminary map in local newspapers2 and 7,,iii7 the commencement of the appeals process regarding the map2 and 7ii7 the estimated number of homes and businesses that will be affected by changes contained in the preliminary map1 including how many structures will be that were not previously located in an area having special flood hazards will be located within such an area under the preliminary map2 and 4 #ca4 ,disclosure 7a7 ,changes in rates resulting from this ,act ,not later than the date that is #f months before the date on which any change in risk premium rates for flood insurance coverage under the ,national ,flood ,insurance ,program resulting from this ,act or any amendment made by this ,act is implemented1 the ,administrator shall make publicly available the rate tables and underwriting guidelines that provide the basis for the change4 7b7 ,report on policy and claims data 7#a7 ,in general ,not later than #ij days after the date of enactment of this ,act1 the ,administrator shall submit to the ,congress a report on the feasibility of-- 7,a7 releasing property-level policy and claims data for flood insurance coverage under the ,national ,flood ,insurance ,program2 and 7,b7 establishing guidelines for releasing property-level policy and claims data for flood insurance coverage under the ,national ,flood ,insurance ,program in accordance with section #eeb;a of title #e1 ,united ,states ,code 7commonly known as the ,privacy ,act of #aigd74 7#b7 ,contents ,the report submitted under paragraph 7#a7 shall include-- 7,a7 an analysis and assessment of how releasing property-level policy and claims data for flood insurance coverage under the ,national ,flood ,insurance ,program will aid policy holders and insurers to understand how the ,administration determines actuarial premium rates and assesses flood risks2 and 7,b7 recommendations for protecting personal information in accordance with section #eeb;a of title #e1 ,united ,states ,code 7commonly known as the ,privacy ,act of #aigd74 ,passed the ,house of ,representatives ,march #d1 #bjad4,karen ,l4 ,haas1,clerk ,march #f1 #bjad,read the second time and placed on the calendar