,i #aaf? ,,congress #a/ ,session ,h4 ,r4 #dgj ,,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 repeal ! m&atory flood insurance cov]age requirem5t = comm]cial prop]ties locat$ 9 flood haz>d areas1 & = o!r purposes4 #a4 ,opt-out ( m&atory cov]age requirem5t = comm]cial prop]ties 7a7 ,am5dm5ts to ,flood ,disa/] ,protection ,act ( #aigc ,! ,flood ,disa/] ,protection ,act ( #aigc is am5d$-- 7#a7 9 section #c7;a7 7#db ,u4,s4,c4 #djjc7;a77-- 7,a7 9 p>agraph 7#aj71 by /rik+ & at ! end2 7,b7 9 p>agraph 7#aa71 by /rik+ ! p]iod at ! end & ins]t+ 2 &2 & 7,c7 by add+ at ! end ! foll[+ new p>agraph3 7#ab7 resid5tial improv$ real e/ate means improv$ real e/ate t-- 7,a7 is prim>ily us$ = resid5tial purposes1 z def9$ by ! ,f$]al entities = l5d+ regulation2 & 7,b7 secures f9anc+ or f9ancial assi/ance provid$ ?r\gh a f$]ally relat$ s+le family loan program1 z def9$ by ! ,f$]al entities = l5d+ regulation4 2 & 7#b7 9 section #ajb 7#db ,u4,s4,c4 #djab;a7-- 7,a7 9 subsection 7b7-- 7i7 9 p>agraph 7#a77;,a7-- 7,i7 by ins]t+ resid5tial be=e improv$ real e/ate2 & 7,,ii7 by ins]t+ resid5tial be=e build+ or mobile home2 7ii7 9 p>agraph 7#b7-- 7,i7 by ins]t+ resid5tial be=e improv$ real e/ate2 & 7,,ii7 by ins]t+ resid5tial be=e build+ or mobile home2 & 7iii7 9 p>agraph 7#c7-- 7,i7 9 subp>agraph 7,a71 by ins]t+ resid5tial be=e improv$ real e/ate2 & 7,,ii7 9 ! matt] aft] & bel[ subp>agraph 7,b71 by ins]t+ resid5tial be=e build+ or mobile home2 7,b7 9 subsection 7c77#c71 by /rik+ 1 9 ! case ( any resid5tial prop]ty1 = any /ructure t is a "p ( su* prop]ty & ins]t+ = any /ructure t is "p ( a resid5tial prop]ty2 7,c7 9 subsection 7e7-- 7i7 9 p>agraph 7#a7-- 7,i7 by ins]t+ resid5tial be=e improv$ real e/ate2 & 7,,ii7 by ins]t+ resid5tial be=e build+ or mobile home ea* place su* t]m appe>s2 & 7ii7 9 p>agraph 7#e7-- 7,i7 9 subp>agraph 7,a7-- 7aa7 by ins]t+ resid5tial be=e improv$ real e/ate ea* place su* t]m appe>s2 & 7bb7 by ins]t+ resid5tial be=e build+ or mobile home ea* place su* t]m appe>s2 7,,ii7 9 subp>agraph 7,b71 by ins]t+ resid5tial be=e build+ or mobile home ea* place su* t]m appe>s2 & 7,,iii7 9 subp>agraph 7,c71 by ins]t+ resid5tial be=e build+ or mobile home2 & 7,d7 9 subsection 7h7-- 7i7 by ins]t+ resid5tial be=e improv$ real e/ate ea* place su* t]m appe>s2 & 7ii7 9 ! matt] prec$+ p>agraph 7#a71 by ins]t+ resid5tial be=e build+ or mobile home4 7b7 ,am5dm5ts to ,national ,flood ,insurance ,act ( #aifh ,! ,national ,flood ,insurance ,act ( #aifh is am5d$-- 7#a7 9 section #acfd7;a7 7#db ,u4,s4,c4 #dajd;a7a77-- 7,a7 9 p>agraph 7#a71 by ins]t+ resid5tial be=e improv$ real e/ate2 7,b7 9 p>agraph 7#b71 by ins]t+ resid5tial be=e improv$ real e/ate2 & 7,c7 9 p>agraph 7#c77;,a71 by ins]t+ resid5tial be=e build+2 7#b7 9 section #acfe 7#db ,u4,s4,c4 #dajd;b7-- 7,a7 9 subsection 7a7-- 7i7 by ins]t+ resid5tial be=e improv$ real e/ate2 & 7ii7 by ins]t+ resid5tial be=e build+2 7,b7 9 subsection 7b77#b7-- 7i7 by ins]t+ resid5tial be=e build+ ea* place su* t]m appe>s2 & 7ii7 by ins]t+ resid5tial be=e improv$ real e/ate ea* place su* t]m appe>s2 7,c7 9 subsection 7d71 by ins]t+ resid5tial be=e improv$ real e/ate ea* place su* t]m appe>s2 & 7,d7 9 subsection 7e7-- 7i7 by ins]t+ resid5tial be=e improv$ real e/ate2 & 7ii7 by ins]t+ resid5tial be=e build+ ea* place su* t]m appe>s2 & 7#c7 9 section #acgj 7#db ,u4,s4,c4 #daba7-- 7,a7 9 p>agraph 7#h71 by ins]t+ resid5tial be=e improv$ real e/ate2 7,b7 by r$esignat+ p>agraphs 7#ad7 & 7#ae7 z p>agraphs 7#ae7 & 7#af71 respectively2 & 7,c7 by ins]t+ aft] p>agraph 7#ac7 ! foll[+ new p>agraph3 7#ad7 ! t]m resid5tial improv$ real e/ate means improv$ real e/ate t-- 7,a7 is prim>ily us$ = resid5tial purposes1 z def9$ by ! ,f$]al entities = l5d+ regulation2 & 7,b7 secures f9anc+ or f9ancial assi/ance provid$ ?r\gh a f$]ally relat$ s+le family loan program1 z def9$ by ! ,f$]al entities = l5d+ regulation2 4 7c7 ,rule ( con/ruction ,?is section & ! am5dm5ts made by ?is section may n be con/ru$ to prohibit ! ,adm9i/rator ( ! ,f$]al ,em]g5cy ,managem5t ,ag5cy f (f]+ flood insurance cov]age "u ! ,national ,flood ,insurance ,program = eligible non-resid5tial prop]ties1 o!r resid5tial multifamily prop]ties1 or /ructures f9anc$ ) comm]cial loans1 or to prohibit ! pur*ase ( su* cov]age = su* eligible prop]ties4