,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #hfaf  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,octob] #af1 #bjbj,mr4
 ,pet]s 7= himself & ,mr4 ,b>r7         
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices  ,a 
,,bill  ,to elim9ate any subsidies =    
flood insurance cov]age "u ! ,national  
,flood ,insurance ,program = new        
con/ruction1 & = o!r purposes4  #a4     
,%ort title ,?is ,act may be cit$ z !   
,build = ,future ,disa/]s ,act ( #bjbj4 
#b4 ,congressional f9d+s ,! ,congress   
makes ! foll[+ f9d+s3 7#a7 ,accord+ to !
 ,national ,oceanic & ,atmosph]ic       
,adm9i/ration1 s9ce #bjjj1 flood+ has   
become ! mo/ common & co/ly natural     
disa/] 9 ! ,unit$ ,/ates1 impact+ all   
#ej ,/ates & caus+ m ?an #hde billion 9 
damage4  7#b7 ,a #bjai report f !       
,cali=nia-bas$ analytics company        
,core,logic f\nd t #g4c million homes   
along ! ,atlantic & ,gulf ,coa/s alone  
are at risk f /orm surge1 ) a pot5tial  
#a4h trillion 9 recon/ruction co/s4     

7#c7 ,rese>* f ,new ,york ,univ]sity's  
,furman ,c5t] = ,real ,e/ate & ,urban   
,policy e/imat$ t1 9 #bjae1 #ae million 
p nationwide liv$ 9 ! #ajj-ye> floodpla9
 spread across coa/al & inl& ,/ates4    
7#d7 ,! ,national ,flood ,insurance     
,program 7,,nfip71 adm9i/]$ by ! ,f$]al 
,em]g5cy ,managem5t ,ag5cy 7,,fema71    
provides f$]ally back$ flood insurance 9
 ov] #bb1jjj communities 9 #ef ,/ates & 
jurisdictions 9 ! ,unit$ ,/ates ) m ?an 
#e million policies provid+ ov] #a4c    
trillion 9 cov]age4  7#e7 ,9 #aiff1 :ile
 call+ = ! creation ( ! ,,nfip1 ! ,task 
,=ce on ,f$]al ,flood ,control ,policy  
provid$ a caution on flood insurance t  
if incorrectly appli$1 x c\ld exac]bate 
! :ole problem ( flood losses44 ,!      
report w>n$ t insurance cov]age n       
proportionate to risk w\ld invite       
economic wa/e ( great magnitude '''     
aggravate flood damages & con/itute     
gross public irresponsibility4  7#f7    
,accord+ to ! ,gov]nm5t ,acc\ntability  
,(fice 7,,gao71 ! ,,nfip (f]s #bj p]c5t 

( policyhold]s heavily subsidiz$ rates t
 ,,fema e/imates may be #de to #ej p]c5t
 bel[ a full-risk rate4  7#g7 ,s9ce     
#bjje1 ! ,,nfip has borr[$ ne>ly #dj    
billion f taxpay]s to meet policyhold]  
insurance claims4  7#h7 ,9 #bjag1 !     
,congressional ,budget ,(fice e/imat$ t 
"u its curr5t model ! ,,nfip is expect$ 
to lose #a4c billion a ye>4  7#i7       
,hi/orically1 repeat$ly flood$ prop]ties
 h acc\nt$ = j #a p]c5t ( prop]ties )   
,national ,flood ,insurance ,program    
policies b ab\t #be to #cj p]c5t ( flood
 claims4 ,nationwide m ?an #aej1jjj     
prop]ties h repeat$ly flood$ at a co/ to
 ! ,,nfip ( m ?an #ab4e billion4  7#aj7 
,on ,may #bf1 #bjai1 f\r =m] ,,fema     
,adm9i/rators wrote a lett] to          
,congressional lead]s /at+3 ,*ange is   
ne$$ to all[ ! ,,nfip to pay (f its debt
 & s]ve its purposes ( r$uc+ ,f$]al     
disa/] sp5d+ foll[+ flood ev5ts1 m9imiz+
 flood losses1 & disc\rag+ unwise build+
 9 flood-prone areas44  #c4 ,s5se (     
,congress ,x is ! s5se ( ! ,congress t !

 ,f$]al ,gov]nm5t %\ld-- 7#a7 disc\rage 
regulation & policies t result 9 build+ 
& rebuild+ homes locat$ 9 high          
flood-risk areas2  7#b7 limit !         
availability ( f$]ally subsidiz$ flood  
insurance = con/ruction ( new homes1    
bus9ess1 & infra/ructure2  7#c7         
coord9ate ) floodpla9 manag]s1 city     
plann]s1 adm9i/rators1 & local elect$   
(ficials to ensure t /ructures built 9  
flood-prone areas comply ) build+ &     
elevation codes & regulations t are     
design$ to r$uce _! risk ( damage f     
flood+2 &  7#d7 prioritize increas$     
mitigation fund+ ?r\gh new & exi/+      
programs to help communities bett]      
prep>e = future flood disa/]s be=e !y   
happ54  #d4 ,elim9ation ( subsidies =   
new con/ruction ,subsection 7c7 (       
section #acjh ( ! ,national ,flood      
,insurance ,act ( #aifh 7#db ,u4,s4,c4  
#djae7;c77 is am5d$ by add+ at ! end !  
foll[+ new p>agraph3  7#c7 ,new         
con/ruction ,any prop]ty ! con/ruction  
or sub/antial improvem5t ( :i* !        

,adm9i/rator det]m9es has be5 />t$ on or
 aft] ,janu>y #a1 #bjbe1 & ! appropriate
 actu>ial rate %all be adju/$ ) any     
*anges to ! flood zone or base flood    
elevation reflect$ 9 relevant flood     
insurance rate map1 reg>dless ( !       
previ\s rat+2 9 det]m9+ :e!r a prop]ty  
is subject to ?is p>agraph1 !           
,adm9i/rator %all consid] ! issue date =
 any relevant build+ p]mit or occupancy 
c]tificate issu$ by ! community 9 :i*   
su* prop]ty is locat$2 = purposes ( ?is 
p>agraph only1 a det]m9ation reg>d+     
sub/antial improvem5t may exclude ! co/s
 ( any improvem5t to a /ructure or !    
/ructure's associat$ l& area = :i* !    
prim>y purpose is flood mitigation or   
floodpro(+2 su* improvem5ts may include 
elevation ( ! build+ or utilities1      
floodpro(+1 or o!r site-specific        
mitigation activities t w\ld o!rwise    
meet ! eligibility requirem5ts e/abli%$ 
by ! ,adm9i/rator "u au?ority ( section 
#acff7;c7 7#db ,u4,s4,c4 #dajd;c7c774  4
  #e4 ,,gao /udy & report ,! ,comptroll]

 ,g5]al ( ! ,unit$ ,/ates %all conduct a
 /udy to det]m9e ! feasibility & effects
 (-- 7#a7 elim9at+1 by ,janu>y #a1      
#bjbg1 all subsidies t r$uce premiums = 
cov]age "u ! ,national ,flood ,insurance
 ,program ( ! ,f$]al ,em]g5cy ,managem5t
 ,ag5cy to am\nts t are less ?an ! am\nt
 t is actu>ially necess>y = su* ,program
 to op]ate )\t a deficit2 &  7#b7       
prohibit+ any subsidy describ$ 9        
p>agraph 7#a7 = any prop]ty unless      
mitigation activities to decrease ! risk
 ( flood damage to su* prop]ty h be5    
complet$4  ,n lat] ?an ! expiration ( ! 
#ab-mon? p]iod beg9n+ on ! date ( !     
enactm5t ( ?is ,act1 ! ,comptroll]      
,g5]al %all submit a report to !        
,congress t describes ! f9d+s ( ! /udy  
pursuant to ?is section4