,i  #aaeth ,,congress  #b;d ,session    
,h4 ,r4 #efah  ,,in ,,the ,,house ,,of  
,,representatives  ,april #be1 #bjah    
,mr4 ,faso 7for himself and ,mr4        
,gonzalez of ,texas7 introduced the     
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to exempt properties located
 in flood hazard areas that are         
participating in an approved buy-out    
program from the mandatory purchase     
requirement under the ,national ,flood  
,insurance ,program1 and for other      
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,flooded ,homeowner 
,financial ,relief ,act of #bjah4  #b4  
,exemption of buy-out properties from   
mandatory purchase requirement          
,subsection 7c7 of section #ajb of the  
,flood ,disaster ,protection ,act of    
#aigc 7#db ,u4,s4,c4 #djab;a7c77 is     
amended by adding at the end the        
following new paragraph3  7#d7 ,buy-out 
properties ,notwithstanding any other   
provision of this section1 flood        

insurance shall not be required for any 
residential property-- 7,a7 that is     
located in an area having special flood 
hazards2 and  7,b7 for which a binding  
commitment has been made to acquire the 
property1 demolish the residential      
structure located on the property1 and  
designate the property for open-space   
use1 under a ,federal1 ,state1 local1 or
 other program for such buy-outs that   
meets such requirements as the          
,administrator shall require to ensure  
that such open-space use is             
accomplished4  4