,,ii  #aac? ,,congress  #a/ ,session    
,s4 #ajge  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #bc1 #bjac ,mr4   
,m55dez 7= himself & ,mr4 ,laut5b]g7    
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to ext5d ! phase-9 ( actu>ial  
rates = flood insurance = c]ta9         
prop]ties "u ! ,bigg]t-,wat]s ,flood    
,insurance ,re=m ,act ( #bjab4  #a4     
,%ort title ,?is ,act may be cit$ z !   
,sav+ ,home[n]s f ,on]\s ,rate          
,escalations ,act ( #bjac or ! ,,%ore   
,act ( #bjac4  #b4 ,ext5sion ( phase-9 (
 actu>ial rates = flood insurance =     
c]ta9 prop]ties  7a7 ,new policies &    
laps$ policies ,section #acjg7;g7 ( !   
,national ,flood ,insurance ,act ( #aifh
 7#db ,u4,s4,c4 #djad7;g77 is am5d$--   
7#a7 9 p>agraph 7#d7--  7,a7 9          
subp>agraph 7,b71 by r$esignat+ clauses 
7i7 & 7ii7 z subclauses 7,i7 & 7,,ii71  
respectively1 & adju/+ ! m>g9s          
accord+ly2 &  7,b7 by r$esignat+        

subp>agraphs 7,a7 & 7,b7 z clauses 7i7 &
 7ii71 respectively1 & adju/+ ! m>g9s   
accord+ly2  7#b7 by r$esignat+ p>agraphs
 7#a7 ?r\gh 7#d7 z subp>agraphs 7,a7    
?r\gh 7,d71 respectively1 & adju/+ !    
m>g9s accord+ly2  7#c7 9 ! matt] prec$+ 
subp>agraph 7,a71 z r$esignat$1 by /rik+
 ,! ,adm9i/rator & ins]t+ ! foll[+3     
7#a7 ,9 g5]al ,! ,adm9i/rator  2 &  7#d7
 by add+ at ! end ! foll[+3  7#b7       
,phase-9 ( actu>ial rates  7,a7 ,9 g5]al
 ,any increase 9 ! risk premium rate    
*>g$ = flood insurance = a prop]ty or   
policy describ$ 9 subp>agraph 7,a71     
7,b71 or 7,c7 ( p>agraph 7#a7 t is a    
result ( ! prohibition set =? "u su*    
p>agraph %all be phas$ 9 ov] an #h-ye>  
p]iod at ! rate (--  7i7 #e p]c5t = ea* 
( ! fir/ #e ye>s aft] ! applicable      
effective date e/abli%$ "u subp>agraph  
7,b7 ( ?is p>agraph2 &  7ii7 #be p]c5t =
 ea* ( ! subsequ5t #c ye>s4  7,b7       
,effective date ( phase-9 ,! applicable 
effective date "u ?is subp>agraph is !  
lat] (--  7i7 ! date ( enactm5t ( !     

,,%ore ,act ( #bjac2 or  7ii7 ! date on 
:i*--  7,i7 a prop]ty describ$ 9        
p>agraph 7#a77;,a7 becomes insur$ by !  
national flood insurance program2       
7,,ii7 a prop]ty describ$ 9 p>agraph    
7#a77;,b7 is pur*as$2 or  7,,iii7       
cov]age = a policy describ$ 9 p>agraph  
7#a77;,c7 is r5ew$4  4  7b7 ,c]ta9 o!r  
prop]ties ,section #acjh7;e77#b7 ( !    
,national ,flood ,insurance ,act ( #aifh
 7#db ,u4,s4,c4 #djae7;e77#b77 is am5d$ 
by /rik+ by #be p]c5t ea* ye>1 until &  
ins]t+ ! foll[+3 by #e p]c5t ea* ye> =  
#e ye>s & by #be p]c5t ea* ye> !reaft]1 
until4  7c7 ,premium adju/m5ts ,to      
reflect curr5t risk ( flood  7#a7 ,9    
g5]al ,section #acjh7;h7 ( ! ,national  
,flood ,insurance ,act ( #aifh 7#db     
,u4,s4,c4 #djae7;h77 is am5d$--  7,a7 9 
! second s5t5ce1 by /rik+ ov] a #e-ye>  
p]iod1 at ! rate ( #bj p]c5t = ea* ye>  
foll[+ su* effective date4 & ins]t+ !   
foll[+3 ov] a #aj-ye> p]iod1 at ! rate (
 #e p]c5t = ea* ( ! fir/ #e ye>s aft]   
su* effective date & #ae p]c5t = ea* ( !

 #e ye>s !reaft]42 &  7,b7 9 ! ?ird     
s5t5ce1 by /rik+ ov] a #e-ye> p]iod1 at 
! rate ( #bj p]c5t = ea* ye> foll[+ !   
effective date ( su* issuance1 revision1
 updat+1 or *ange4 & ins]t+ ! foll[+3   
ov] a #aj-ye> p]iod1 at ! rate ( #e     
p]c5t = ea* ( ! fir/ #e ye>s foll[+ !   
effective date ( su* issuance1 revision1
 updat+1 or *ange1 & #ae p]c5t = ea* ( !
 #e ye>s !reaft]44  7#b7 ,applicability 
,= purposes ( det]m9+ ! am\nts & s*$ule 
= phas+ 9 any increase 9 ! risk premium 
rate *>g$ = flood insurance "u !        
,national ,flood ,insurance ,program "u 
section #acjh7;h7 ( ! ,national ,flood  
,insurance ,act ( #aifh 7#db ,u4,s4,c4  
#djae7;h771 z am5d$ by p>agraph 7#a71   
bas$ on ! issuance1 revision1 updat+1 or
 o!r *ange ) respect to a flood         
insurance map t took effect dur+ ! p]iod
 beg9n+ on ,july #f1 #bjab & end+ on !  
date ( enactm5t ( ?is ,act1 ! effective 
date ( ! issuance1 revision1 updat+1 or 
o!r *ange %all be deem$ to be ! date (  
enactm5t ( ?is ,act4