,,ii  #aacth ,,congress  #ast ,session  
,s4 #ajge  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,may #bc1 #bjac
 ,mr4 ,menendez 7for himself and ,mr4   
,lautenberg7 introduced the following   
bill2 which was read twice and referred 
to the ,committee on ,banking1 ,housing1
 and ,urban ,affairs  ,a ,,bill  ,to    
extend the phase-in of actuarial rates  
for flood insurance for certain         
properties under the ,biggert-,waters   
,flood ,insurance ,reform ,act of #bjab4
  #a4 ,short title ,this ,act may be    
cited as the ,saving ,homeowners from   
,onerous ,rate ,escalations ,act of     
#bjac or the ,,shore ,act of #bjac4  #b4
 ,extension of phase-in of actuarial    
rates for flood insurance for certain   
properties  7a7 ,new policies and lapsed
 policies ,section #acjg7;g7 of the     
,national ,flood ,insurance ,act of     
#aifh 7#db ,u4,s4,c4 #djad7;g77 is      
amended--  7#a7 in paragraph 7#d7--     
7,a7 in subparagraph 7,b71 by           
redesignating clauses 7i7 and 7ii7 as   

subclauses 7,i7 and 7,,ii71             
respectively1 and adjusting the margins 
accordingly2 and  7,b7 by redesignating 
subparagraphs 7,a7 and 7,b7 as clauses  
7i7 and 7ii71 respectively1 and         
adjusting the margins accordingly2  7#b7
 by redesignating paragraphs 7#a7       
through 7#d7 as subparagraphs 7,a7      
through 7,d71 respectively1 and         
adjusting the margins accordingly2  7#c7
 in the matter preceding subparagraph   
7,a71 as redesignated1 by striking ,the 
,administrator and inserting the        
following3  7#a7 ,in general ,the       
,administrator  2 and  7#d7 by adding at
 the end the following3  7#b7 ,phase-in 
of actuarial rates  7,a7 ,in general    
,any increase in the risk premium rate  
charged for flood insurance for a       
property or policy described in         
subparagraph 7,a71 7,b71 or 7,c7 of     
paragraph 7#a7 that is a result of the  
prohibition set forth under such        
paragraph shall be phased in over an    
#h-year period at the rate of--  7i7 #e 

percent for each of the first #e years  
after the applicable effective date     
established under subparagraph 7,b7 of  
this paragraph2 and  7ii7 #be percent   
for each of the subsequent #c years4    
7,b7 ,effective date of phase-in ,the   
applicable effective date under this    
subparagraph is the later of--  7i7 the 
date of enactment of the ,,shore ,act of
 #bjac2 or  7ii7 the date on which--    
7,i7 a property described in paragraph  
7#a77;,a7 becomes insured by the        
national flood insurance program2       
7,,ii7 a property described in paragraph
 7#a77;,b7 is purchased2 or  7,,iii7    
coverage for a policy described in      
paragraph 7#a77;,c7 is renewed4  4  7b7 
,certain other properties ,section      
#acjh7;e77#b7 of the ,national ,flood   
,insurance ,act of #aifh 7#db ,u4,s4,c4 
#djae7;e77#b77 is amended by striking by
 #be percent each year1 until and       
inserting the following3 by #e percent  
each year for #e years and by #be       
percent each year thereafter1 until4    

7c7 ,premium adjustments ,to reflect    
current risk of flood  7#a7 ,in general 
,section #acjh7;h7 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 over
 a #e-year period1 at the rate of #bj   
percent for each year following such    
effective date4 and inserting the       
following3 over a #aj-year period1 at   
the rate of #e percent for each of the  
first #e years after such effective date
 and #ae percent for each of the #e     
years thereafter42 and  7,b7 in the     
third sentence1 by striking over a      
#e-year period1 at the rate of #bj      
percent for each year following the     
effective date of such issuance1        
revision1 updating1 or change4 and      
inserting the following3 over a #aj-year
 period1 at the rate of #e percent for  
each of the first #e years following the
 effective date of such issuance1       
revision1 updating1 or change1 and #ae  
percent for each of the #e years        

thereafter44  7#b7 ,applicability ,for  
purposes of determining the amounts and 
schedule for phasing in any increase in 
the risk premium rate charged for flood 
insurance under the ,national ,flood    
,insurance ,program under section       
#acjh7;h7 of the ,national ,flood       
,insurance ,act of #aifh 7#db ,u4,s4,c4 
#djae7;h771 as amended by paragraph     
7#a71 based on the issuance1 revision1  
updating1 or other change with respect  
to a flood insurance map that took      
effect during the period beginning on   
,july #f1 #bjab and ending on the date  
of enactment of this ,act1 the effective
 date of the issuance1 revision1        
updating1 or other change shall be      
deemed to be the date of enactment of   
this ,act4