,,ii  #aah? ,,congress  #b;d ,session   
,s4 #eaii  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #be1         
#bjbd,mr4 ,casey introduc$ ! foll[+     
bill2 :i* 0 read twice & ref]r$ to !    
,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs  ,a ,,bill  ,to reau?orize !   
,national ,flood ,insurance ,program1 & 
= o!r purposes4  #a4 ,%ort title2 table 
( cont5ts  7a7 ,%ort title ,?is ,act may
 be cit$ z ! ,fair ,flood ,protection   
,act ( #bjbd4  7b7 ,table ( cont5ts ,!  
table ( cont5ts = ?is ,act is z foll[s3 
,sec4 #a4 ,%ort title2 table (          
cont5ts4,sec4 #b4 ,def9itions4,,title   
,i--,reau?orization & stabilization,sec4
 #aja4 ,reau?orization4,sec4 #ajb4      
,=be>ance on ,national ,flood ,insurance
 ,program int]e/ paym5ts4,sec4 #ajc4    
,elim9ation ( ,community ,rat+          
,sy/em4,sec4 #ajd4 ,write ,y\r ,own     
,program re=m4,,title ,,ii--,rate       
report+ & policyhold] assistance,sec4   
#bja4 ,s5se ( ,congress4,sec4 #bjb4     
,premium transp>5cy4,sec4 #bjc4 ,flood  

,protection ,af=dability ,program &     
,tru/ ,fund4,,title ,,iii--,fee r$uction
 & consolidation,sec4 #cja4 ,res]ve     
,fund assessm5t4,sec4 #cjb4 ,flood      
,insurance ,program ,/ability           
,fee4,,title ,,iv--,resilience,sec4     
#dja4 ,levee project id5tification &    
developm5t program4,sec4 #djb4          
,au?orization ( appropriations = !      
,,/orm ,act4  #b4 ,def9itions ,9 ?is    
,act3 7#a7 ,adm9i/rator ,! t]m          
,adm9i/rator means ! ,adm9i/rator ( !   
,ag5cy4  7#b7 ,ag5cy ,! t]m ,ag5cy means
 ! ,f$]al ,em]g5cy ,managem5t ,ag5cy4   
7#c7 ,community ,rat+ ,sy/em ,! t]m     
,community ,rat+ ,sy/em means !         
community rat+ sy/em program c>ri$ out  
"u section #acae7;b7 ( ! ,national      
,flood ,insurance ,act ( #aifh 7#db     
,u4,s4,c4 #djbb7;b774  7#d7 ,national   
,flood ,insurance ,program ,! t]m       
,national ,flood ,insurance ,program    
means ! program e/abli%$ "u ! ,national 
,flood ,insurance ,act ( #aifh 7#db     
,u4,s4,c4 #djja et seq474  7#e7 ,small  

bus9ess conc]n ,! t]m small bus9ess     
conc]n has ! mean+ giv5 ! t]m 9 section 
#c ( ! ,small ,bus9ess ,act 7#ae        
,u4,s4,c4 #fcb74  7#f7 ,write ,y\r ,own 
,company ,! t]m ,write ,y\r ,own        
,company means a private prop]ty        
insurance company t p>ticipates 9 !     
,write ,y\r ,own ,program4  7#g7 ,write 
,y\r ,own ,program ,! t]m ,write ,y\r   
,own ,program means ! program "u :i* !  
,f$]al ,em]g5cy ,managem5t ,ag5cy ent]s 
into a /&>d arrangem5t ) private prop]ty
 insurance companies to-- 7,a7 sell     
contracts = ,f$]al flood insurance "u _!
 own bus9ess l9es ( insurance2 &  7,b7  
adju/ & pay claims aris+ "u ! contracts 
describ$ 9 subp>agraph 7,a74  ,i        
,reau?orization & /abilization  #aja4   
,reau?orization  7a7 ,f9anc+ ,section   
#acji7;a7 ( ! ,national ,flood          
,insurance ,act ( #aifh 7#db ,u4,s4,c4  
#djaf7;a77 is am5d$ by /rik+ ,septemb]  
#cj1 #bjbc & ins]t+ ,septemb] #cj1      
#bjcd4  7b7 ,program expiration ,section
 #acai ( ! ,national ,flood ,insurance  

,act ( #aifh 7#db ,u4,s4,c4 #djbf7 is   
am5d$ by /rik+ ,septemb] #cj1 #bjbc &   
ins]t+ ,septemb] #cj1 #bjcd4  7c7       
,retroactive effective date ,if ?is ,act
 is enact$ aft] ,septemb] #cj1 #bjbd1 ! 
am5dm5ts made by subsections 7a7 & 7b7  
%all take effect z if enact$ on         
,septemb] #cj1 #bjbd4  #ajb4 ,=be>ance  
on ,national ,flood ,insurance ,program 
int]e/ paym5ts  7a7 ,9 g5]al ,dur+ !    
#bj-ye> p]iod beg9n+ on ! date (        
enactm5t ( ?is ,act1 ! ,secret>y ( !    
,treasury may n *>ge ! ,adm9i/rator     
int]e/ on am\nts borr[$ by !            
,adm9i/rator "u section #acji7;a7 ( !   
,national ,flood ,insurance ,act ( #aifh
 7#db ,u4,s4,c4 #djaf7;a77 t 7 out/&+ z 
( ! date ( enactm5t ( ?is ,act1 includ+ 
am\nts borr[$ aft] ! date ( enactm5t (  
?is ,act t ref9ance debts t exi/$ be=e !
 date ( enactm5t ( ?is ,act4  7b7 ,use (
 =egone int]e/ paym5ts ,!re %all be     
deposit$ into ! ,national ,flood        
,mitigation ,fund e/abli%$ "u section   
#acfg ( ! ,national ,flood ,insurance   

,act ( #aifh 7#db ,u4,s4,c4 #dajd;d7 an 
am\nt equal to ! int]e/ t w\ld h accru$ 
on ! borr[$ am\nts dur+ ! #bj-ye> p]iod 
describ$ 9 subsection 7a7 at ! "t at :i*
 ^? int]e/ paym5ts w\ld h o!rwise be5   
paid1 :i*1 not)/&+ any provision ( su*  
section #acfg1 ! ,adm9i/rator %all use  
to c>ry out ! program e/abli%$ "u       
section #acff ( ! ,national ,flood      
,insurance ,act ( #aifh 7#db ,u4,s4,c4  
#dajd;c74  7c7 ,no retroactive accrual  
,aft] ! #bj-ye> p]iod describ$ 9        
subsection 7a71 ! ,secret>y ( !         
,treasury %all n require ! ,adm9i/rator 
to repay any int]e/ t1 b = t subsection1
 w\ld h accru$ on ! borr[$ am\nts       
describ$ 9 t subsection dur+ t #bj-ye>  
p]iod4  #ajc4 ,elim9ation ( ,community  
,rat+ ,sy/em  7a7 ,f9d+s ,congress f9ds 
! foll[+3 7#a7 ,! ,community ,rat+      
,sy/em1 :ile well-int5tion$1 has provid$
 disc\nts to policyhold]s t are n       
actu>ially ju/ifi$4  7#b7 ,! disc\nts   
describ$ 9 p>agraph 7#a7 h fur!r$ !     
f9ancial insolv5cy ( ! ,national ,flood 

,insurance ,program4  7#c7 ,) !         
transition by ! ,ag5cy t[>ds            
individualiz$ premiums r ?an            
community-bas$ premiums1 ! ,community   
,rat+ ,sy/em %\ld be phas$ out4  7b7    
,phase-,out ,section #acae7;b7 ( !      
,national ,flood ,insurance ,act ( #aifh
 7#db ,u4,s4,c4 #djbb7;b77 is am5d$ by  
add+ at ! end ! foll[+3  7#d7 ,phase-out
 ,n e>li] ?an #b ye>s & n lat] ?an #d   
ye>s aft] ! date ( enactm5t ( ?is       
p>agraph1 ! ,adm9i/rator %all-- 7,a7    
t]m9ate ! community rat+ sy/em program  
e/abli%$ "u p>agraph 7#a72 &  7,b7      
remove cr$its f ! premium rates =       
policyhold]s )9 p>ticipat+ communities4 
4  #ajd4 ,write ,y\r ,own ,program re=m 
7a7 ,9 g5]al ,n lat] ?an #a ye> aft] !  
date ( enactm5t ( ?is ,act1 !           
,adm9i/rator %all-- 7#a7 issue a propos$
 rule t caps ! reimbursem5t t ! ,ag5cy  
pays to ,write ,y\r ,own ,companies--   
7,a7 at n m ?an #be p]c5t ( ! aggregate 
premiums *>g$ by ! ,write ,y\r ,own     
,company2 &  7,b7 tak+ into acc\nt-- 7i7

 ! impact ( ! reimbursem5t rate on !    
ov]all solv5cy ( ! ,national ,flood     
,insurance ,program2 &  7ii7            
reimbursem5t rates (f]$ by o!r ,f$]al   
ag5cies = simil> insurance programs1    
includ+ programs (f]$ by ! ,dep>tm5t (  
,heal? & ,human ,s]vices & ! ,dep>tm5t (
 ,agriculture2 &  7#b7 issue a propos$  
rule t caps ! am\nt t ,write ,y\r ,own  
,company pays to an ag5t ( ! company z a
 commission = flood insurance premiums  
sold by ! ag5t4  7b7 ,f9al rules ,n lat]
 ?an #ah mon?s aft] ! date on :i* !     
,adm9i/rator issues a propos$ rule "u   
subsection 7a71 ! ,adm9i/rator %all     
issue a f9al rule = ! propos$ rule1 :i* 
%all apply to all flood insurance       
policies t are writt5 or r5ew$ on or    
aft] ! date t is #f mon?s aft] ! date ( 
publication ( ! f9al rule4  7c7         
,reassessm5t ( caps ,! ,adm9i/rator may 
reassess & modify ! caps provid$ 9 !    
f9al rules issu$ "u subsection 7b7 ?r\gh
 notice & comm5t rulemak+ proc$ures "u  
section #eec ( title #e1 ,unit$ ,/ates  

,code4  ,,ii ,rate report+ & policyhold]
 assi/ance  #bja4 ,s5se ( ,congress ,x  
is ! s5se ( ,congress t-- 7#a7 x is     
important to maximize p>ticipation 9 !  
,national ,flood ,insurance ,program2   
7#b7 9 ord] to d s1 ,congress mu/ ensure
 t flood insurance is af=dable =        
l[-income home[n]s1 old] home[n]s on    
fix$ incomes1 & work+ families2 &  7#c7 
x is also important t ! ,national ,flood
 ,insurance ,program cont9ues to align  
its premiums ) actu>ially s\nd rates to 
provide transp>5cy1 increase public     
und]/&+ ( ! true co/s ( flood insurance 
& flood damage1 & promote ! long-t]m    
f9ancial solv5cy ( ! ,national ,flood   
,insurance ,program4  #bjb4 ,premium    
transp>5cy  7a7 ,9 g5]al ,! ,adm9i/rator
 %all issue to ea* policyhold] "u !     
,national ,flood ,insurance ,program1 9 
writ+1 an annual premium pric+ report ) 
respect to ! prop]ty ( ! policyhold]1   
:i* %all include-- 7#a7 ! full1         
risk-bas$ premium = ! prop]ty1 z        
id5tifi$ "u ! ,risk ,rat+ #b4j model or 

any subsequ5t pric+ model ( ! ,ag5cy2   
7#b7 ! applicable premium = ! prop]ty1  
inclusive ( subsidies & caps z det]m9$  
by section #acaj;,a ( ! ,national ,flood
 ,insurance ,act ( #aifh1 z add$ by     
section #bjc ( ?is ,act2 &  7#c7 !      
anticipat$ premium = subsequ5t ye>s     
foll[+ ! report1 bas$ on ! applicable   
pric+ model ( ! ,ag5cy & annual         
limitations on premium increases        
e/abli%$ "u section #acjh7;e7 ( !       
,national ,flood ,insurance ,act ( #aifh
 7#db ,u4,s4,c4 #djae7;e774  7b7 ,r5t]  
transp>5cy ,if a policyhold] r5ts out a 
prop]ty = :i* cov]age is provid$ ?r\gh !
 ,national ,flood ,insurance ,program to
 t5ants1 ! policyhold] %all provide a   
copy ( ! annual premium pric+ report = !
 prop]ty to ! t5ants ) ! lease = !      
prop]ty4  #bjc4 ,flood ,protection      
,af=dability ,program & ,tru/ ,fund     
,*apt] ,i ( ! ,national ,flood          
,insurance ,act ( #aifh 7#db ,u4,s4,c4  
#djaa et seq471 z am5d$ by section #cja 
( ?is ,act1 is am5d$ by ins]t+ aft]     

section #acaj 7#db ,u4,s4,c4 #djag7 !   
foll[+3  #acaj;,a4 ,flood ,protection   
,af=dability ,program & ,tru/ ,fund  7a7
 ,e/abli%m5t ( program ,n lat] ?an #a   
ye> aft] ! date ( enactm5t ( ?is        
section1 ! ,adm9i/rator %all e/abli% a  
program to ensure t policies "u !       
national flood insurance program are    
af=dable by (f]+ subsidiz$ premiums us+ 
! =mula describ$ 9 subsection 7b74  7b7 
,rate af=dability ,! program e/abli%$ "u
 subsection 7a7 %all ensure t           
policyhold]s "u ! national flood        
insurance program %all n pay a premium t
 is1 z a p]c5tage ( _! h\sehold income1 
high] ?an ! p]c5tage creat$ by divid+ _!
 annual h\sehold income by #da1jjj4  7c7
 ,subsidy ,if ! premium = flood         
insurance cov]age "u ! national flood   
insurance program = a prop]ty own$ by a 
policyhold] eligible = assi/ance "u     
subsection 7b7 is great] ?an ! limit set
 by subsection 7b71 ! ,adm9i/rator %all 
subsidize ! premium us+ funds f ! ,flood
 ,insurance ,af=dability ,tru/ ,fund    

e/abli%$ "u subsection 7d7 9 ! am\nt    
equal to ! diff]5ce betwe5 ! /at$       
premium & ! maximum am\nt *>geable "u   
subsection 7b74  7d7 ,fund  7#a7 ,9     
g5]al ,!re is e/abli%$ )9 ! ,dep>tm5t ( 
! ,treasury a fund1 :i* %all be-- 7,a7  
kn[n z ! ,flood ,insurance ,af=dability 
,tru/ ,fund 79 ?is section ref]r$ to z !
 ,fund72 &  7,b7 adm9i/]$ by !          
,adm9i/rator4  7#b7 ,%ortfall ,if am\nts
 9 ! ,fund are insuffici5t to cov]      
subsidies requir$ "u subsection 7b71 !  
,adm9i/rator is au?oriz$ to draw su*    
sums z may be necess>y f ! g5]al fund ( 
! ,treasury to provide ^? subsidies4    
7#c7 ,report to ,congress ,!            
,adm9i/rator %all submit to ! ,committee
 on ,bank+1 ,h\s+1 & ,urban ,affairs ( !
 ,s5ate1 ! ,committee on ,appropriations
 ( ! ,s5ate1 ! ,committee on ,f9ancial  
,s]vices ( ! ,h\se ( ,repres5tatives1 & 
! ,committee on ,appropriations ( !     
,h\se ( ,repres5tatives an annual report
 detail+-- 7,a7 ! am\nt paid out ( !    
,fund dur+ ! ye> prec$+ ! date on :i* ! 

report is submitt$2  7,b7 ! am\nt 9 !   
,fund z ( ! date ( ! report2  7,c7 !    
am\nt ! ,fund drew f ! g5]al fund ( !   
,treasury dur+ ! ye> prec$+ ! date on   
:i* ! report is submitt$2  7,d7 ! am\nt 
( appropriations t ! ,adm9i/rator       
e/imates ! ,fund w ne$ = ! =?com+ ye>2 &
  7,e7 o!r in=mation z det]m9$ important
 by ! ,adm9i/rator4  7#d7 ,au?orization 
( appropriations ,!re is au?oriz$ to be 
appropriat$ into ! ,fund su* sums z are 
necess>y = ea* fiscal ye> to provide !  
subsidies describ$ 9 subsection 7c71 z  
in=m$ by ! relevant report submitt$ "u  
p>agraph 7#c74  7e7 ,rule ( con/ruction 
,no?+ 9 ?is section %all be con/ru$ to  
affect ! applicability ( ! cap on !     
annual premium increase "u section      
#acjh7;e74  4  ,,iii ,fee r$uction &    
consolidation  #cja4 ,res]ve ,fund      
assessm5t ,*apt] ,i ( ! ,national ,flood
 ,insurance ,act ( #aifh 7#db ,u4,s4,c4 
#djaa et seq47 is am5d$-- 7#a7 9 section
 #acjd7;b7 7#db ,u4,s4,c4 #djaa7;b771 by
 /rik+ ! flu% matt] foll[+ p>agraph     

7#d77;,d72  7#b7 9 section              
#acjg7;a77#a77;,b77iii7 7#db ,u4,s4,c4  
#djad7;a77#a77;,b77iii771 by /rik+ :i*  
%all be recov]$ by a fee *>g$ to        
policyhold]s & su* fee %all n be subject
 to any ag5ts' commissions1 company     
exp5se all[ances1 or ,/ate or local     
premium taxes2  7#c7 9 section          
#acjh7m77#a7 7#db ,u4,s4,c4             
#djae7m77#a771 9 ! matt] prec$+         
subp>agraph 7,a71 by /rik+ & ! sur*>ges 
requir$ "u section #acjh;,a2  7#d7 by   
/rik+ section #acjh;,a 7#db ,u4,s4,c4   
#djae;a72 &  7#e7 by /rik+ section      
#acaj;,a 7#db ,u4,s4,c4 #djag;,a74      
#cjb4 ,flood ,insurance ,program        
,/ability ,fee  7a7 ,imposition &       
collection ,! ,adm9i/rator %all impose &
 collect a s+ul> annual sur*>ge1 :i*    
%all be ref]r$ to z ! ,flood ,insurance 
,program ,/ability ,fee1 9 ! am\nt      
provid$ 9 subsection 7b71 on all        
policies = flood insurance cov]age "u ! 
,national ,flood ,insurance ,program t  
are newly issu$ or r5ew$ aft] ,may #a1  

#bjbe4  7b7 ,am\nt ,! am\nt ( ! sur*>ge 
"u subsection 7a7 %all be-- 7#a7 except 
z provid$ 9 p>agraph 7#b71 #bj p]c5t ( !
 annual premium inclusive ( any subsidy 
provid$ "u section #acaj;,a ( !         
,national ,flood ,insurance ,act (      
#aifh1 z add$ by section #bjc ( ?is     
,act2 &  7#b7 #cj p]c5t ( ! annual      
po/-subsidy premium1 9 ! case ( a policy
 = any prop]ty t is-- 7,a7 a            
non-resid5tial prop]ty o!r ?an a small  
bus9ess conc]n2 &  7,b7 a resid5tial    
prop]ty t is n ! prim>y resid5ce ( an   
individual4  7c7 ,use ( funds ,( am\nts 
collect$ by ! ,adm9i/rator "u ?is       
section 9 a giv5 fiscal ye>-- 7#a7 n    
less ?an #ej p]c5t %all be deposit$ 9 ! 
,national ,flood ,insurance ,fund       
e/abli%$ "u section #acaj ( ! ,national 
,flood ,insurance ,act ( #aifh 7#db     
,u4,s4,c4 #djag72 &  7#b7 n less ?an #cj
 p]c5t %all be deposit$ 9 ! ,flood      
,insurance ,af=dability ,tru/ ,fund     
e/abli%$ "u section #acaj;,a ( !        
,national ,flood ,insurance ,act (      

#aifh1 z add$ by section #bjc ( ?is     
,act4  ,,iv ,resili5ce  #dja4 ,levee    
project id5tification & developm5t      
program  7a7 ,9 g5]al ,n lat] ?an #a ye>
 aft] ! date ( enactm5t ( ?is ,act1 !   
,adm9i/rator %all e/abli% a program to  
id5tify & develop new levees & levee    
sy/ems4  7b7 ,eligible entities ,to c>ry
 out ! program e/abli%$ "u subsection   
7a71 ! ,adm9i/rator %all solicit        
applications f-- 7#a7 ,/ates or         
political subdivisions ( ,/ates2  7#b7  
flood protection au?orities2  7#c7      
f$]ally recogniz$ ,indian ,tribes2 &    
7#d7 o!r public entities z det]m9$ by ! 
,adm9i/rator4  7c7 ,selection crit]ia ,!
 ,adm9i/rator %all consid] applications 
= assi/ance "u ! program e/abli%$ "u    
subsection 7a7 us+ ! foll[+ crit]ia3    
7#a7 ,an e/imate ( ! valuation ( prop]ty
 locat$ beh9d ! propos$ levee or sy/em (
 levees4  7#b7 ,! hi/ory ( sev]e wea!r &
 flood+ ev5ts 9 ! community & any       
project$ *anges due to climate *ange4   
7#c7 ,! numb] ( p & p]c5tage ( ! ov]all 

population 9 ! community t is p>ticipat+
 9 ! ,national ,flood ,insurance        
,program4  7#d7 ,! anticipat$ co/ to    
con/ruct & op]ate ! levee or sy/em (    
levees4  7#e7 ,o!r consid]ations1 z     
det]m9$ by ! ,adm9i/rator4  7d7         
,te*nical assi/ance ,! ,adm9i/rator %all
 provide te*nical assi/ance ^u reque/ to
 applicants = ! program e/abli%$ "u     
subsection 7a71 includ+ by help+        
applicants to access data reg>d+        
,national ,flood ,insurance ,program    
cov]age 9 ! relevant area4  7e7 ,select$
 projects ,^u ! selection ( applicants =
 p>ticipation 9 ! program e/abli%$ "u   
subsection 7a71 ! ,adm9i/rator %all--   
7#a7 provide te*nical assi/ance =       
applications submitt$ to ! ,ag5cy =     
fund+1 includ+ assi/ance ) det]m9+      
project scope1 timel9e1 co/1 & o!r      
consid]ations z det]m9$ by !            
,adm9i/rator2  7#b7 prioritize = fund+  
?r\gh ! haz>d mitigation grant program  
"u section #djd ( ! ,rob]t ,t4 ,/af=d   
,disa/] ,relief & ,em]g5cy ,assi/ance   

,act 7#db ,u4,s4,c4 #eagj;c71 ! ,build+ 
,resili5t ,infra/ructure & ,communities 
program au?oriz$ "u section #bjc ( !    
,rob]t ,t4 ,/af=d ,disa/] ,relief &     
,em]g5cy ,assi/ance ,act 7#db ,u4,s4,c4 
#eacc71 & ! ,flood ,mitigation          
,assi/ance program au?oriz$ "u section  
#acff ( ! ,national ,flood ,insurance   
,act ( #aifh 7#db ,u4,s4,c4 #dajd;c71   
applications f select$ applicants =     
plann+1 eng9e]+1 design1 or con/ruction 
"w = ! levee or sy/em ( levees describ$ 
9 ! application2 &  7#c7 direct ,/ates &
 political subdivisions ( ,/ates to     
prioritize allocat+ funds f revolv+ loan
 funds capitaliz$ by ! ,safegu>d+       
,tomorr[ ,revolv+ ,loan ,fund1 z        
e/abli%$ to c>ry out section #bje ( !   
,rob]t ,t4 ,/af=d ,disa/] ,relief &     
,em]g5cy ,assi/ance ,act 7#db ,u4,s4,c4 
#eace71 = projects = plann+1 eng9e]+1   
design1 or con/ruction "w = levees or   
sy/ems ( levees select$ "u ?is section4 
7f7 ,consultation ,9 adm9i/]+ !         
,program1 ! ,adm9i/rator %all consult   

)-- 7#a7 ! ,u4,s4 ,army ,corps (        
,eng9e]s2  7#b7 em]g5cy managem5t       
ag5cies f ,/ates ) a select$ project2 & 
7#c7 o!r /akehold]s1 z det]m9$ by !     
,adm9i/rator4  #djb4 ,au?orization (    
appropriations = ! ,,/orm ,act ,section 
#bje7n7 ( ! ,rob]t ,t4 ,/af=d ,disa/]   
,relief & ,em]g5cy ,assi/ance ,act 7#db 
,u4,s4,c4 #eace7 is am5d$ to read z     
foll[s3  7n7 ,au?orization (            
appropriations ,!re are au?oriz$ to be  
appropriat$ #bjj1jjj1jjj = ea* ( fiscal 
ye>s #bjbe ?r\gh #bjcd to c>ry out ?is  
section4  4