,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #dfi  ,,9 ,,! ,,h\se ,,(            
,,repres5tatives  ,janu>y #aj1 #bjai,mr4
 ,luetkemey] introduc$ ! foll[+ bill2   
:i* 0 ref]r$ to ! ,committee on         
,f9ancial ,s]vices  ,a ,,bill  ,to      
require ! use ( replacem5t co/ value 9  
det]m9+ ! premium rates = flood         
insurance cov]age "u ! ,national ,flood 
,insurance ,act1 & = o!r purposes4  #a4 
,use ( replacem5t co/ 9 det]m9+ premium 
rates  7a7 ,/udy ( risk rat+ r$esign    
flood insurance premium rat+ options    
7#a7 ,/udy ,! ,adm9i/rator ( ! ,f$]al   
,em]g5cy ,managem5t ,ag5cy %all conduct 
a /udy to-- 7,a7 evaluate insurance     
indu/ry be/ practices = risk rat+ &     
classification1 includ+ practices relat$
 to replacem5t co/ value 9 premium rate 
e/imations2  7,b7 assess options1       
me?ods1 & /rategies = includ+ replacem5t
 co/ value 9 ! ,adm9i/rator's e/imates  
"u section #acjg7;a77#a7 ( ! ,national  
,flood ,insurance ,act ( #aifh 7#db     
,u4,s4,c4 #djad7;a77#a772  7,c7 provide 

recomm5dations = includ+ replacem5t co/ 
value 9 ! e/imate ( ! risk premium rates
 = flood insurance "u su* section       
#acjg7;a77#a72  7,d7 id5tify an         
appropriate me?odology to incorporate   
replacem5t co/ value into !             
,adm9i/rator's e/imates "u su* section  
#acjg7;a77#a72 &  7,e7 develop a        
feasible implem5tation plan & project$  
timel9e = includ+ replacem5t co/ value 9
 ! e/imates ( risk premium rates = flood
 insurance made available "u ! ,national
 ,flood ,insurance ,program4  7#b7      
,report  7,a7 ,requirem5t ,n lat] ?an ! 
expiration ( ! #ab-mon? p]iod beg9n+ on 
! date ( ! enactm5t ( ?is ,act1 !       
,adm9i/rator %all submit to ! ,committee
 on ,f9ancial ,s]vices ( ! ,h\se (      
,repres5tatives & ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs ( !    
,s5ate a report t conta9s ! results &   
conclusions ( ! /udy requir$ "u p>agraph
 7#a74  7,b7 ,cont5ts ,! report submitt$
 "u subp>agraph 7,a7 %all include-- 7i7 
an analysis ( ! recomm5dations result+ f

 ! /udy "u p>agraph 7#a7 & any pot5tial 
impacts on ! ,national ,flood ,insurance
 ,program1 includ+ co/ consid]ations2   
7ii7 a description ( any actions tak5 by
 ! ,adm9i/rator to implem5t ! /udy      
recomm5dations2 &  7iii7 a description (
 any /udy recomm5dations t h be5 def]r$ 
or n act$ ^u1 toge!r ) a /atem5t expla9+
 ! reasons = su* def]ral or inaction4   
7b7 ,use ( replacem5t co/ value 9       
premium rates2 implem5tation  7#a7      
,e/imat$ rates ,p>agraph 7#a7 ( section 
#acjg7;a7 ( ! ,national ,flood          
,insurance ,act ( #aifh 7#db ,u4,s4,c4  
#djad7;a77#a77 is am5d$1 9 ! matt]      
prec$+ subp>agraph 7,a71 by ins]t+ aft] 
flood insurance ! foll[+3 1 :i* %all    
incorporate replacem5t co/ value1 &4    
7#b7 ,*>geable rates ,subsection 7b7 (  
section #acjh ( ! ,national ,flood      
,insurance ,act ( #aifh 7#db ,u4,s4,c4  
#djae7;b77 is am5d$1 9 ! matt] prec$+   
p>agraph 7#a71 by ins]t+ aft] ,su* rates
 ! foll[+3 %all incorporate replacem5t  
co/ value &4  7#c7 ,effective date ,!   

am5dm5ts "u p>agraphs 7#a7 & 7#b7 ( ?is 
subsection %all be made ^u ! expiration 
( ! #ab-mon? p]iod beg9n+ on ! date ( ! 
enactm5t ( ?is ,act4  7#d7              
,applicability & phase-9 ,! ,adm9i/rator
 ( ! ,f$]al ,em]g5cy ,managem5t ,ag5cy  
%all apply ! am5dm5ts "u p>agraphs 7#a7 
& 7#b7 to flood insurance cov]age made  
available "u ! ,national ,flood         
,insurance ,act ( #aifh = prop]ties     
locat$ 9 v>i\s geographic regions 9 !   
,unit$ ,/ates su* t--  7,a7 ov] !       
?ree-ye> p]iod beg9n+ ^u ! expiration ( 
! p]iod ref]r$ to 9 p>agraph 7#c7 ( ?is 
subsection1 ! requirem5t "u su* am5dm5ts
 %all be gradually phas$ 9              
geographically ?r\gh\t ! ,unit$ ,/ates z
 suffici5t in=mation = su* implem5tation
 becomes available2 &  7,b7 aft] !      
expiration ( su* p]iod ref]r$ to 9      
subp>agraph 7,a71 su* am5dm5ts %all     
apply to all flood insurance cov]age    
made available "u ! ,national ,flood    
,insurance ,act ( #aifh4