,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #ifj  ,,in ,,the ,,house ,,of   
,,representatives  ,march #e1 #bjac ,mr4
 ,grimm 7for himself1 ,mr4 ,king of ,new
 ,york1 ,mrs4 ,mc,carthy of ,new ,york1 
and ,mr4 ,meeks7 introduced the         
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to amend the ,national      
,flood ,insurance ,act of #aifh to      
provide relief from increased flood     
insurance premium rates for homes in    
disaster areas4  #a4 ,short title ,this 
,act may be cited as the ,flood ,victim 
,premium ,relief ,act of #bjac4  #b4    
,phase-in of new premium rates for      
disaster areas ,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    
second sentence1 by striking ,any and   
inserting ,except as provided in        
paragraph 7#b71 any2  7#b7 in the third 
sentence1 by striking ,in and inserting 
,except as provided in paragraph 7#b71  

in2  7#c7 by striking the subsection    
designation and all that follows through
 4--,notwithstanding and inserting the  
following3  7h7  ,premium adjustment ,to
 reflect current risk of flood  7#a7 ,in
 general ,notwithstanding  2 and  7#d7  
by adding at the end the following new  
paragraph3  7#b7 ,disaster areas  7,a7  
,limitation on rate increases ,in the   
case of any covered property1 any such  
increase or new premium rate that       
becomes effective after ,july #f1 #bjab1
 shall be phased in over an #h-year     
period1 at the rate of #e percent for   
each of the first #d years of such      
period and #bj percent for each of the  
last #d years of such period4  7,b7     
,covered property ,for purposes of      
subparagraph 7,a71 the term covered     
property means a residential property   
that--  7i7 is located within an area-- 
7,i7 for which a major disaster was     
declared pursuant to section #dja of the
 ,robert ,t4 ,stafford ,disaster ,relief
 and ,emergency ,assistance ,act 7#db   

,u4,s4,c4 #eagj72 and  7,,ii7 7aa7 for  
which revised or updated flood insurance
 rate maps become effective during the  
#b-year period beginning upon the       
occurrence of the event for which the   
major disaster declaration referred to  
in clause 7i77,i7 was made2 or  7bb7    
that upon the date of the enactment of  
the ,flood ,victim ,premium ,relief ,act
 of #bjac is eligible for any reason for
 preferred risk rate method premiums for
 flood insurance coverage or that was   
eligible1 at any time during the        
#ab-month period ending upon the        
occurrence of the event for which the   
major disaster declaration was made1 for
 preferred risk rate method premiums2   
7ii7 is owned by the same owner who     
owned the property at the time of the   
occurrence of such disaster event2 and  
7iii7 is1 and has been since the        
occurrence of such disaster event1 the  
primary residence of such owner except  
for any periods of non-occupancy        
resulting from the disaster4  4