,i #aacth ,,congress #ast ,session ,h4 ,r4 #cfic ,,in ,,the ,,house ,,of ,,representatives ,december #aa1 #bjac,mr4 ,cassidy 7for himself1 ,mr4 ,buchanan1 ,mr4 ,hastings of ,florida1 ,mr4 ,palazzo1 ,mr4 ,scalise1 ,mr4 ,rogers of ,alabama1 ,mr4 ,ross1 ,mr4 ,johnson of ,ohio1 ,mr4 ,nugent1 ,mr4 ,marino1 ,ms4 ,castor of ,florida1 ,ms4 ,ros-,lehtinen1 ,mr4 ,bilirakis1 ,mr4 ,crenshaw1 and ,mr4 ,southerland7 introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to clarify the application of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab to premium rates for certain properties1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,flood ,insurance ,relief and ,transparency ,act of #bjac4 #b4 ,delayed effective date for premium rate increases for properties subject to map revisions or updates 7a7 ,delay ,notwithstanding any other provision of law1 any change in risk premium rates for flood insurance under the ,national ,flood ,insurance ,program otherwise resulting from the amendment made by section #ajjbjg of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab 7,public ,law #aab-ada2 #abf ,stat4 #iai7 shall not take effect until ,march #a1 #bjae4 7b7 ,disclosure ,not later than ,october #a1 #bjad1 the ,administrator of the ,federal ,emergency ,management ,agency shall make publicly available all data affecting any changes in risk premium rates for flood insurance coverage under the ,national ,flood ,insurance ,program resulting from the amendment made by section #ajjbjg of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab 7,public ,law #aab-ada2 #abf ,stat4 #iai74 7c7 ,effective date ,subsection 7a7 shall take effect as if enacted as part of the ,biggert-,waters ,flood ,insurance ,reform ,act of #bjab 7,public ,law #aab-ada74 #c4 ,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-- 7#a7 by striking there and inserting amounts not otherwise obligated from the ,national ,flood ,insurance ,fund2 and 7#b7 by striking from the ,national ,flood ,insurance ,fund1 of amounts not otherwise obligated1 not more than #gej1jjj4 #d4 ,monthly installment payments for premiums ,section #acjh of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djae7 is amended by striking subsection 7g7 and inserting the following new subsection3 7g7 ,conditions for monthly payments 7#a7 ,option ,notwithstanding any other provision of law1 with respect to any chargeable risk premiums for flood insurance coverage under this title1 the ,administrator shall provide policyholders with the option of paying such premiums on an annual or monthly basis4 7#b7 ,eligibility ,a policyholder of flood insurance coverage under this title shall be eligible to make monthly payments of premiums only if all of the following conditions are met3 7,a7 ,the policyholder does not have the option of escrowing premiums and fees for flood insurance as provided in section #ajb7;d7 of the ,flood ,disaster ,protection ,act of #aigc 7#db ,u4,s4,c4 #djab;a7d774 7,b7 ,the policyholder agrees to permit payment of the monthly premiums using electronic fund transfer or automatic withdrawals from a checking account1 savings account1 or credit card4 7,c7 ,upon a covered loss occurring and a claim being presented1 the remaining premium owed for that policy term shall be deducted in full from payments made for that loss4 7,d7 ,the policyholder certifies that the policyholder understands the payment terms and consequences for nonpayment due to insufficient funds1 as provided under this subsection4 7#c7 ,monthly payments ,upon the purchase or renewal of flood insurance coverage and paying the premium on a monthly basis1 the policyholder shall pay no less than #a_/ab of the total annual premium as the initial payment at time of application or renewal1 and then equal monthly payments for the remaining #aa months of the policy1 subject to paragraph 7#b77;,c74 7#d7 ,additional premiums and administrative expenses ,the ,administrator shall charge the policyholder an administrative fee to cover the operating and administrative expenses to administer monthly premium payments1 and the ,administrator may factor into the premiums to be paid by policyholders an appropriate amount of premium to cover any increased risk that may arise from allowing monthly installment payments4 7#e7 ,failure to make a payment ,upon the purchase or renewal of a flood insurance policy1 the ,administrator shall provide the policyholder with a payment schedule identifying the date the premium will be collected through electronic fund transfer or automatic withdrawals from a checking account1 savings account1 or credit card4 ,if there are insufficient funds to cover the monthly premium payment due on the date specified in the schedule or the required payment is otherwise not received-- 7,a7 coverage under the ,national ,flood ,insurance ,program will immediately end effective the following day at #ab3ja a4m42 and 7,b7 the policyholder will no longer be eligible to make premium payments on a monthly basis for an appropriate period1 as identified by the ,administrator4 7#f7 ,implementation ,notwithstanding section #acjf 7#db ,u4,s4,c4 #djac71 not later than the expiration of the #a-year period beginning on the date of enactment of this subsection1 the ,administrator may issue an endorsement to the ,residential and ,general ,standard ,flood ,insurance ,policies to permit monthly payments1 cancellation of coverage for non-payment1 and any other terms necessary to implement this subsection4 4