,i  #aah? ,,congress  #a/ ,session  ,h4 
,r4 #acjf  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,m>* #a1 #bjbc,mr4    
,luetkemey] introduc$ ! foll[+ bill2 :i*
 0 ref]r$ to ! ,committee on ,f9ancial  
,s]vices  ,a ,,bill  ,to provide =      
great] transf] ( risk "u ! ,national    
,flood ,insurance ,program to private   
capital & re9surance m>kets1 & = o!r    
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,taxpay] ,exposure         
,mitigation ,act4  #b4 ,risk transf]    
requirem5t ,subsection 7e7 ( section    
#acde ( ! ,national ,flood ,insurance   
,act ( #aifh 7#db ,u4,s4,c4 #djha7;e77  
is am5d$-- 7#a7 by /rik+ 7e7 ,risk      
transf]4--,! ,adm9i/rator & ins]t+ !    
foll[+3  7e7 ,risk transf]  7#a7        
,au?ority ,! ,adm9i/rator  2 &  7#b7 by 
add+ at ! end ! foll[+ new p>agraph3    
7#b7 ,requir$ risk transf] cov]age  7,a7
 ,requirem5t ,n lat] ?an ! expiration ( 
! #ah-mon? p]iod beg9n+ ^u ! date ( !   
enactm5t ( ?is p>agraph & at all times  
!reaft]1 ! ,adm9i/rator %all annually   

c$e a portion ( ! risk ( ! flood        
insurance program "u ?is title to !     
private re9surance or capital m>kets1 or
 any comb9ation !re(1 & at rates & t]ms 
t ! ,adm9i/rator det]m9es to be         
reasonable & appropriate1 9 an am\nt t--
 7i7 is suffici5t to ma9ta9 ! ability ( 
! program to pay claims2 &  7ii7 manages
 & limits ! annual exposure ( ! flood   
insurance program to flood losses 9     
accordance ) ! probable maximum loss    
t>get e/abli%$ = su* ye> "u subp>agraph 
7,b74  7,b7 ,probable maximum loss t>get
 ,! ,adm9i/rator %all = ea* fiscal ye>1 
e/abli% a probable maximum loss t>get = 
! national flood insurance program t    
%all be ! maximum probable loss "u !    
national flood insurance program t is   
expect$ to occur 9 su* fiscal ye>4  7,c7
 ,consid]ations ,9 e/abli%+ ! probable  
maximum loss t>get "u subp>agraph 7,b7 =
 ea* fiscal ye> & c>ry+ out subp>agraph 
7,a71 ! ,adm9i/rator %all consid]-- 7i7 
! probable maximum loss t>gets = o!r    
,unit$ ,/ates public natural cata/rophe 

insurance programs1 includ+ z ,/ate w9d 
pools & e>?quake programs2  7ii7 !      
probable maximum loss t>gets ( o!r risk 
managem5t organizations1 includ+ !      
,f$]al ,national ,mortgage ,association 
& ! ,f$]al ,home ,loan ,mortgage        
,corporation2  7iii7 cata/rophic1       
actu>ial1 & o!r appropriate data model+ 
results ( ! national flood insurance    
program portfolio2  7iv7 ! availability 
( funds 9 ! ,national ,flood ,insurance 
,fund e/abli%$ "u section #acaj 7#db    
,u4,s4,c4 #djag72  7v7 ! availability ( 
funds 9 ! ,national ,flood ,insurance   
,res]ve ,fund e/abli%$ "u section       
#acaj;,a 7#db ,u4,s4,c4 #djag;a72  7vi7 
! availability ( borr[+ au?ority "u     
section #acji 7#db ,u4,s4,c4 #djaf72    
7vii7 ! ability ( ! ,adm9i/rator to     
repay out/&+ debt2  7viii7 am\nts       
appropriat$ to ! ,adm9i/rator to c>ry   
out ! national flood insurance program2 
7ix7 re9surance1 capital m>kets1        
cata/rophe bonds1 collat]aliz$          
re9surance1 resili5ce bonds1 & o!r      

insurance-l9k$ securities1 & o!r risk   
transf] opportunities2 &  7x7 any o!r   
factor ! ,adm9i/rator det]m9es          
appropriate4  7,d7 ,multi-ye> contracts 
,no?+ 9 ?is p>agraph may be con/ru$ to  
prev5t or prohibit ! ,adm9i/rator f     
comply+ ) ! requirem5t "u subp>agraph   
7,a7 reg>d+ c$+ risk ?r\gh contracts    
hav+ a duration long] ?an "o ye>4  4