,,ib  ,union ,cal5d> ,no4 #djd  #aad?   
,,congress  #b;d ,session  ,h4 ,r4 #bija
  ,report ,no4 #aad-ebd  ,,9 ,,! ,,h\se 
,,( ,,repres5tatives  ,june #be1 #bjae  
,mr4 ,ross 7= himself & ,mr4 ,murphy (  
,florida7 introduc$ ! foll[+ bill2 :i* 0
 ref]r$ to ! ,committee on ,f9ancial    
,s]vices  ,april #bf1 #bjaf;,additional 
sponsors3 ,mr4 ,jolly1 ,mr4 ,emm] (     
,m9nesota1 ,mr4 ,posey1 ,mr4 ,neugebau]1
 ,mr4 ,pitt5g]1 ,mr4 ,mulvaney1 ,mr4    
,hill1 ,mrs4 ,wagn]1 ,mr4 ,huiz5ga (    
,mi*igan1 ,mr4 ,b>r1 ,mr4 ,k+ ( ,new    
,york1 ,mr4 ,lucas1 ,mr4 ,m>9o1 ,mr4    
,z9ke1 ,mr4 ,=t5b]ry1 ,mr4 ,mac,arthur1 
,mr4 ,palazzo1 ,mr4 ,williams1 ,mr4     
,scalise1 ,mr4 ,smi? ( ,texas1 ,mr4     
,c(fman1 ,mr4 ,royce1 ,mr4 ,mess]1 ,mr4 
,%]man1 ,mr4 ,bilirakis1 ,mr4 ,hultgr51 
,mr4 ,ro?fus1 ,mr4 ,a%=d1 ,mr4 ,johnson 
( ,ohio1 ,mr4 ,p]lmutt]1 ,mr4 ,rice (   
,s\? ,c>ol9a1 ,mr4 ,rokita1 ,mr4        
,mool5a>1 ,ms4 ,moore1 ,mr4 ,heck (     
,wa%+ton1 ,mr4 ,v>gas1 ,mrs4 ,c>olyn ,b4
 ,maloney ( ,new ,york1 ,mrs4 ,bu/os1   

,ms4 ,ca/or ( ,florida1 ,mr4 ,br5dan ,f4
 ,boyle ( ,p5nsylvania1 ,mr4 ,capuano1  
,mr4 ,kildee1 & ,mr4 ,b\/any  ,april    
#bf1 #bjaf ,report$ ) an am5dm5t1       
committ$ to ! ,committee ( ! ,:ole ,h\se
 on ! ,/ate ( ! ,union1 & ord]$ to be   
pr9t$ ,/rike out all aft] ! enact+      
clause & ins]t ! "p pr9t$ 9 italic ,=   
text ( introduc$ bill1 see copy ( bill z
 introduc$ on ,june #be1 #bjae  ,a      
,,bill  ,to am5d ! ,flood ,disa/]       
,protection ,act ( #aigc to require t   
c]ta9 build+s & p]sonal prop]ty be cov]$
 by flood insurance1 & = o!r purposes4  
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,flood ,insurance ,m>ket ,p>ity &     
,mod]nization ,act4  #b4 ,private flood 
insurance  7a7 ,m&atory pur*ase         
requirem5t  7#a7 ,am\nt & t]m ( cov]age 
,section #ajb ( ! ,flood ,disa/]        
,protection ,act ( #aigc 7#db ,u4,s4,c4 
#djab;a7 is am5d$ by /rik+ ,sec4 #ajb4  
7a7 & all t foll[s ?r\gh ! end (        
subsection 7a7 & ins]t+ ! foll[+3  #ajb4
  7a7 ,am\nt & t]m ( cov]age ,aft] !    

expiration ( sixty days foll[+ ! date ( 
enactm5t ( ?is ,act1 no ,f$]al (fic] or 
ag5cy %all approve any f9ancial         
assi/ance = acquisition or con/ruction  
purposes = use 9 any area t has be5     
id5tifi$ by ! ,adm9i/rator z an area    
hav+ special flood haz>ds & 9 :i* ! sale
 ( flood insurance has be5 made         
available "u ! ,national ,flood         
,insurance ,act ( #aifh1 unless ! build+
 or mobile home & any p]sonal prop]ty to
 :i* su* f9ancial assi/ance relates is  
cov]$ by flood insurance3 ,provid$1 ,t !
 am\nt ( flood insurance 7#a7 9 ! case (
 ,f$]al flood insurance1 is at lea/     
equal to ! developm5t or project co/ ( !
 build+1 mobile home1 or p]sonal prop]ty
 7less e/imat$ l& co/71 ! out/&+        
pr9cipal balance ( ! loan1 or ! maximum 
limit ( ,f$]al flood insurance cov]age  
made available ) respect to ! p>ticul>  
type ( prop]ty1 :i*ev] is less2 or 7#b7 
9 ! case ( private flood insurance1 is  
at lea/ equal to ! developm5t or project
 co/ ( ! build+1 mobile home1 or p]sonal

 prop]ty 7less e/imat$ l& co/71 ! out/&+
 pr9cipal balance ( ! loan1 or ! maximum
 limit ( ,f$]al flood insurance cov]age 
made available ) respect to ! p>ticul>  
type ( prop]ty1 :i*ev] is less3 ,provid$
 fur!r1 ,t if ! f9ancial assi/ance      
provid$ is 9 ! =m ( a loan or an        
insurance or gu>anty ( a loan1 ! am\nt (
 flood insurance requir$ ne$ n exce$ !  
out/&+ pr9cipal balance ( ! loan & ne$ n
 be requir$ beyond ! t]m ( ! loan4 ,!   
requirem5t ( ma9ta9+ flood insurance    
%all apply dur+ ! life ( ! prop]ty1     
reg>dless ( transf] ( own]%ip ( su*     
prop]ty4  4  7#b7 ,requirem5t = mortgage
 loans ,subsection 7b7 ( section #ajb ( 
! ,flood ,disa/] ,protection ,act (     
#aigc 7#db ,u4,s4,c4 #djab;a7b77 is     
am5d$--  7,a7 by /rik+ ! subsection     
designation & all t foll[s ?r\gh ! end (
 p>agraph 7#e7 & ins]t+ ! foll[+3  7b7  
,requirem5t = mortgage loans  7#a7      
,regulat$ l5d+ in/itutions ,ea* ,f$]al  
entity = l5d+ regulation 7aft]          
consultation & coord9ation ) ! ,f9ancial

 ,in/itutions ,exam9ation ,c\ncil       
e/abli%$ "u ! ,f$]al ,f9ancial          
,in/itutions ,exam9ation ,c\ncil ,act ( 
#aigd7 %all by regulation direct        
regulat$ l5d+ in/itutions n to make1    
increase1 ext5d1 or r5ew any loan secur$
 by improv$ real e/ate or a mobile home 
locat$ or to be locat$ 9 an area t has  
be5 id5tifi$ by ! ,adm9i/rator z an area
 hav+ special flood haz>ds & 9 :i* flood
 insurance has be5 made available "u !  
,national ,flood ,insurance ,act (      
#aifh1 unless ! build+ or mobile home & 
any p]sonal prop]ty secur+ su* loan is  
cov]$ = ! t]m ( ! loan by flood         
insurance3 ,provid$1 ,t ! am\nt ( flood 
insurance 7,a7 9 ! case ( ,f$]al flood  
insurance1 is at lea/ equal to ! out/&+ 
pr9cipal balance ( ! loan or ! maximum  
limit ( ,f$]al flood insurance cov]age  
made available ) respect to ! p>ticul>  
type ( prop]ty1 :i*ev] is less2 or 7,b7 
9 ! case ( private flood insurance1 is  
at lea/ equal to ! out/&+ pr9cipal      
balance ( ! loan or ! maximum limit (   

,f$]al flood insurance cov]age made     
available ) respect to ! p>ticul> type (
 prop]ty1 :i*ev] is less4  7#b7 ,f$]al  
ag5cy l5d]s  7,a7 ,9 g5]al ,a ,f$]al    
ag5cy l5d] may n make1 increase1 ext5d1 
or r5ew any loan secur$ by improv$ real 
e/ate or a mobile home locat$ or to be  
locat$ 9 an area t has be5 id5tifi$ by !
 ,adm9i/rator z an area hav+ special    
flood haz>ds & 9 :i* flood insurance has
 be5 made available "u ! ,national      
,flood ,insurance ,act ( #aifh1 unless !
 build+ or mobile home & any p]sonal    
prop]ty secur+ su* loan is cov]$ = ! t]m
 ( ! loan by flood insurance 9          
accordance ) p>agraph 7#a74 ,ea* ,f$]al 
ag5cy l5d] may issue any regulations    
necess>y to c>ry out ?is p>agraph4 ,su* 
regulations %all be consi/5t ) &        
sub/antially id5tical to ! regulations  
issu$ "u p>agraph 7#a74  7,b7           
,requirem5t to accept flood insurance   
,ea* ,f$]al ag5cy l5d] %all accept flood
 insurance z satisfaction ( ! flood     
insurance cov]age requirem5t "u         

subp>agraph 7,a7 if ! flood insurance   
cov]age meets ! requirem5ts = cov]age "u
 t subp>agraph4  7#c7 ,gov]nm5t-sponsor$
 ent]prises = h\s+ ,! ,f$]al ,national  
,mortgage ,association & ! ,f$]al ,home 
,loan ,mortgage ,corporation %all       
implem5t proc$ures reasonably design$ to
 ensure t1 = any loan t is--  7,a7      
secur$ by improv$ real e/ate or a mobile
 home locat$ 9 an area t has be5        
id5tifi$1 at ! "t ( ! orig9ation ( !    
loan or at any "t dur+ ! t]m ( ! loan1  
by ! ,adm9i/rator z an area hav+ special
 flood haz>ds & 9 :i* flood insurance is
 available "u ! ,national ,flood        
,insurance ,act ( #aifh1 &  7,b7 pur*as$
 or gu>ante$ by su* entity1  ! build+ or
 mobile home & any p]sonal prop]ty      
secur+ ! loan is cov]$ = ! t]m ( ! loan 
by flood insurance 9 ! am\nt provid$ 9  
p>agraph 7#a74 ,! ,f$]al ,national      
,mortgage ,association & ! ,f$]al ,home 
,loan ,mortgage ,corporation %all accept
 flood insurance z satisfaction ( !     
flood insurance cov]age requirem5t "u   

p>agraph 7#a7 if ! flood insurance      
cov]age provid$ meets ! requirem5ts =   
cov]age "u t p>agraph & any requirem5ts 
e/abli%$ by ! ,f$]al ,national ,mortgage
 ,association or ! ,f$]al ,home ,loan   
,corporation1 respectively1 relat+ to ! 
f9ancial /r5g? ( private insurance      
companies f :i* ! ,f$]al ,national      
,mortgage ,association or ! ,f$]al ,home
 ,loan ,mortgage ,corporation w accept  
private flood insurance1 provid$ t su*  
requirem5ts %all n affect or conflict ) 
any ,/ate law1 regulation1 or proc$ure  
conc]n+ ! regulation ( ! bus9ess (      
insurance4  7#d7 ,applicability  7,a7   
,exi/+ cov]age ,except z provid$ 9      
subp>agraph 7,b71 p>agraph 7#a7 %all    
apply on ! date ( enactm5t ( ! ,riegle  
,community ,developm5t & ,regulatory    
,improvem5t ,act ( #aiid4  7,b7 ,new    
cov]age ,p>agraphs 7#b7 & 7#c7 %all     
apply only ) respect to any loan made1  
increas$1 ext5d$1 or r5ew$ aft] !       
expiration ( ! #a-ye> p]iod beg9n+ on ! 
date ( enactm5t ( ! ,riegle ,community  

,developm5t & ,regulatory ,improvem5t   
,act ( #aiid4 ,p>agraph 7#a7 %all apply 
) respect to any loan made1 increas$1   
ext5d$1 or r5ew$ by any l5d] sup]vis$ by
 ! ,f>m ,cr$it ,adm9i/ration only aft] !
 expiration ( ! p]iod "u ?is            
subp>agraph4  7,c7 ,cont9u$ effect (    
regulations ,not)/&+ any o!r provision (
 ?is subsection1 ! regulations to c>ry  
out p>agraph 7#a71 z 9 effect imm$iately
 be=e ! date ( enactm5t ( ! ,riegle     
,community ,developm5t & ,regulatory    
,improvem5t ,act ( #aiid1 %all cont9ue  
to apply until ! regulations issu$ to   
c>ry out p>agraph 7#a7 z am5d$ by       
section #ebb7;a7 ( su* ,act take effect4
  7#e7 ,rule ( con/ruction ,except z    
o!rwise specifi$1 any ref]5ce to flood  
insurance 9 ?is section %all be consid]$
 to include ,f$]al flood insurance &    
private flood insurance4 ,no?+ 9 ?is    
subsection %all be con/ru$ to sup]s$e or
 limit ! au?ority ( a ,f$]al entity =   
l5d+ regulation1 ! ,f$]al ,h\s+ ,f9ance 
,ag5cy1 a ,f$]al ag5cy l5d]1 ! ,f$]al   

,national ,mortgage ,association1 or !  
,f$]al ,home ,loan ,mortgage            
,corporation to e/abli% requirem5ts     
relat+ to ! f9ancial /r5g? ( private    
insurance companies f :i* ! entity or   
ag5cy w accept private flood insurance1 
provid$ t su* requirem5ts %all n affect 
or conflict ) any ,/ate law1 regulation1
 or proc$ure conc]n+ ! regulation ( !   
bus9ess ( insurance4  2 &  7,b7 by /rik+
 p>agraph 7#g7 & ins]t+ ! foll[+ new    
p>agraph3  7#g7 ,def9itions ,9 ?is      
section3  7,a7 ,flood insurance ,! t]m  
flood insurance means-- 7i7 ,f$]al flood
 insurance2 &  7ii7 private flood       
insurance4  7,b7 ,f$]al flood insurance 
! t]m ,f$]al flood insurance means an   
insurance policy made available "u !    
,national ,flood ,insurance ,act ( #aifh
 7#db ,u4,s4,c4 #djja et seq474  7,c7   
,private flood insurance ,! t]m private 
flood insurance means an insurance      
policy t-- 7i7 is issu$ by an insurance 
company t is--  7,i7 lic5s$1 admitt$1 or
 o!rwise approv$ to engage 9 ! bus9ess (

 insurance 9 ! ,/ate 9 :i* ! insur$     
build+ is locat$1 by ! insurance        
regulator ( t ,/ate2 or  7,,ii7 eligible
 z a nonadmitt$ insur] to provide       
insurance 9 ! home ,/ate ( ! insur$1 9  
accordance ) sections #eba ?r\gh #ebg ( 
! ,dodd-,frank ,wall ,/reet ,re=m &     
,consum] ,protection ,act 7#ae ,u4,s4,c4
 #hbja ?r\gh #hbjf72  7ii7 is issu$ by  
an insurance company t is n o!rwise     
disapprov$ z a surplus l9es insur] by ! 
insurance regulator ( ! ,/ate 9 :i* !   
prop]ty to be insur$ is locat$2 &  7iii7
 provides flood insurance cov]age t     
complies ) ! laws & regulations ( t     
,/ate4  7,d7 ,/ate ,! t]m ,/ate means   
any ,/ate ( ! ,unit$ ,/ates1 ! ,di/rict 
( ,columbia1 ! ,commonweal? ( ,pu]to    
,rico1 ,guam1 ! ,nor!rn ,m>iana ,isl&s1 
! ,virg9 ,isl&s1 & ,am]ican ,samoa4  4  
7b7 ,effect ( private flood insurance   
cov]age on cont9u\s cov]age requirem5ts 
,section #acjh ( ! ,national ,flood     
,insurance ,act ( #aifh 7#db ,u4,s4,c4  
#djae7 is am5d$ by add+ at ! end !      

foll[+3  7n7 ,effect ( private flood    
insurance cov]age on cont9u\s cov]age   
requirem5ts ,= purposes ( apply+ any    
/atutory1 regulatory1 or adm9i/rative   
cont9u\s cov]age requirem5t1 includ+ "u 
section #acjg7;g77#a71 ! ,adm9i/rator   
%all consid] any p]iod dur+ :i* a       
prop]ty 0 cont9u\sly cov]$ by private   
flood insurance 7z def9$ 9 section      
#ajb7;b77#g7 ( ! ,flood ,disa/]         
,protection ,act ( #aigc 7#db ,u4,s4,c4 
#djab;a7b77#g777 to be a p]iod (        
cont9u\s cov]age4  4  ,april #bf1 #bjaf 
,report$ ) an am5dm5t1 committ$ to !    
,committee ( ! ,:ole ,h\se on ! ,/ate ( 
! ,union1 & ord]$ to be pr9t$