,,ii  #aahth ,,congress  #ast ,session  
,s4 #bheb  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,september #ai1
 #bjbc ,mr4 ,scott of ,florida          
introduced the following bill2 which was
 read twice and referred to the         
,committee on ,banking1 ,housing1 and   
,urban ,affairs  ,a ,,bill  ,to         
establish a grace period for nonpayment 
of premiums for flood insurance coverage
 under the national flood insurance     
program until the ,administrator of the 
,federal ,emergency ,management ,agency 
implements the option for monthly       
payment of such premiums1 and for other 
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,flood ,insurance   
,affordability ,act4  #b4 ,grace period 
for flood insurance coverage  7a7       
,authority ,to suspend premium payments 
,during the period that begins on the   
date of enactment of this ,act and ends 
#cj days after the date on which the    
,administrator of the ,federal          
,emergency ,management ,agency first    

makes available to policyholders of     
flood insurance coverage under the      
national flood insurance program a      
monthly premium payment option for flood
 insurance coverage in compliance with  
section #acjh7;g7 of the ,national      
,flood ,insurance ,act of #aifh 7#db    
,u4,s4,c4 #djae7;g771 any new and       
existing policyholders to which such    
section #acjh7;g7 applies shall remain  
covered under such a flood insurance    
policy notwithstanding the nonpayment of
 premiums to cover that period4  7b7    
,recoupment of unpaid premium amounts   
,the ,administrator of the ,federal     
,emergency ,management ,agency shall    
provide that1 after the expiration of   
the period referred to in subsection    
7a71 there shall be assessed on each    
policyholder who elects to pay flood    
insurance coverage premiums on a monthly
 basis pursuant to section #acjh7;g7 of 
the ,national ,flood ,insurance ,act of 
#aifh 7#db ,u4,s4,c4 #djae7;g77 an extra
 monthly fee in an amount calculated by 

the ,administrator to recover1 on a     
cumulative basis1 the amount of premiums
 unpaid pursuant to subsection 7a74  7c7
 ,other grace periods ,the grace period 
under subsection 7a7 for nonpayment of  
premiums shall be in addition to any    
other grace period provided for under a 
policy for flood insurance coverage     
under the national flood insurance      
program4  #c4 ,prohibition on fees      
associated with monthly payments        
,section #acjh7;g7 of the ,national     
,flood ,insurance ,act of #aifh 7#db    
,u4,s4,c4 #djae7;g77 is amended by      
striking annually or monthly4 and       
inserting annually or monthly1 and may  
not apply any fee or additional charge  
with respect to a policyholder who      
chooses to make monthly payments        
compared to a policyholder who chooses  
to make payments annually44