Side-by-Side Comparison of Flood Insurance Reform Legislation in the 110th Congress

Side-by-Side Comparison of Flood Insurance
th
Reform Legislation in the 110 Congress
Updated June 24, 2008
Rawle O. King
Analyst in Financial Economics and Risk Assessment
Government and Finance Division

Side-by-Side Comparison of Flood Insurance Reform
Legislation in the 110^th Congress
Summary
In 1968, Congress established the National Flood Insurance Program (NFIP) in
response to severe flooding following a series of hurricanes in 1963, 1964, and 1965.
The key policy objectives of the NFIP were threefold: (1) reduce the nation’s flood
risk through floodplain management; (2) improve flood hazard data and risk
assessment by mapping the nation’s floodplains; and (3) make affordable flood
insurance widely available in communities that adopt and enforce measures to make
future construction safer from flooding. Fiscally, the program had been self-
supporting from the mid-1980s until the 2005 hurricanes. These storms exposed
serious weaknesses, which Congress is attempting to address in an effort to return the
NFIP to financial soundness.
In the aftermath of the 2005 hurricanes, the NFIP faced unprecedented financial
and regulatory strains. The program had to borrow $17.535 billion from the U.S.
Treasury in order to pay claims and expenses. Those concerned about program
challenges in the wake of the 2005 storms cite the increasing need to borrow from the
U.S. Treasury, substantial premium discounts or cross-subsidies among classes of
policyholders, outdated flood insurance rate maps, allegations of uneven compliance
with mandatory purchase requirements, and questions as to the performance and
efficiency of private insurers operating under the NFIP’s Write Your Own program.
Policymakers are now examining ways to strengthen the NFIP. On July 19,
2007, Representative Maxine Waters introduced H.R. 3121 to restore the financial
solvency of the national flood insurance program. Chairman Barney Frank had
introduced H.R. 1682, an earlier version of H.R. 3121, on March 26, 2007. H.R.
3121 is designed to make the program satisfy traditional criteria for actuarial
soundness by phasing in actuarial premiums for owners of certain commercial
properties and some residential properties that are not the owners’ primary residence.
H.R. 3121 would also: (1) raise civil penalties on federally regulated lenders who fail
to enforce mandatory purchase of flood insurance for mortgage holders; (2) increase
program participation incentives; (3) add coverage for wind as well as water damage;
and (4) encourage revisions to flood maps. H.R. 3121 passed the House on
September 27, 2007.
On May 13, 2008, the Senate approved S. 2284, a flood insurance reform bill
designed to increase the amount of premiums collected to meet the cost of expected
claims under the NFIP. S. 2284 is substantially similar to H.R. 3121, except that the
Senate legislation would forgive the program’s outstanding debt to the Treasury and
exclude coverage for wind damages.
Some stakeholder groups have expressed concerns about making abrupt changes
to the NFIP, particularly phasing out the subsidized premiums. They point to a need
for flood insurance reform but say changes should be made in the broader context of
program reauthorization. NFIP authority expires September 30, 2008.
This report will be updated as events warrant.

Contents
Background ......................................................1
Summary of H.R. 3121 and S. 2284...................................3
List of Tables
Table 1. Side-by-Side Comparison of Flood Insurance Reform Legislation:
H.R. 3121 and S. 2284..........................................4

Side-by-Side Comparison of Flood
Insurance Reform Legislation in the
th
110 Congress
Background
In 1968, Congress established the National Flood Insurance Program (NFIP) in
response to rising flood losses and as an alternative to ad hoc federal disaster
assistance. The NFIP’s insurance operation was self-supporting from the mid-1980s
until the 2005 hurricane season when Hurricanes Katrina, Rita, and Wilma exposed
serious flaws in the program. The 2005 Gulf Coast hurricanes were catastrophic
disasters that required an estimated $19.28 billion in claims payouts under the NFIP.
The program now faces unprecedented financial and regulatory challenges and a
$17.535 billion debt owed to the U.S. Treasury. Members of Congress are concerned
about the financial challenges facing the NFIP and the need to reauthorize the
program before September 30, 2008.
An important aspect of the financial challenges facing the program involves the
rebuilding of the Gulf Coast region and the adequacy of the NFIP to meet the future
commercial and multifamily real estate mortgage financial needs of all other
communities. Without federal flood insurance, for example, lenders will often not
be able to sell mortgages in coastal areas and other regions prone to flooding.
Without a reliable and uninterrupted source of affordable flood insurance, mortgage
credit and home ownership would be more expensive.
The NFIP’s financial status has prompted policymakers to focus on the strengths
and weaknesses of the NFIP in managing and financing the nation’s flood risk.
Those concerned about program weaknesses typically cite the increasing need to
borrow from the U.S. Treasury, substantial premium cross-subsidies among classes
of policyholders, outdated flood insurance rate maps, allegations of uneven
compliance with mandatory purchase requirements, and questions as to the
performance and efficiency of the NFIP’s Write Your Own program.
Legislative efforts are now underway in Congress to reform the NFIP. On
March 26, 2007, Representative Barney Frank introduced H.R. 1682, the Flood
Insurance Reform and Modernization Act of 2007, in order to restore the financial
solvency of the national flood insurance program. On July 19, 2007, Representative
Maxine Waters introduced H.R. 3121 — a bill that is substantially similar to H.R.
1682. As approved by the full House on September 27, 2007, H.R. 3121 would add
two new sections to provide for optional wind damage coverage through the flood
insurance program and to extend the NFIP five years through September 30, 2013.
Section 4 of the bill was modified to reflect minor changes in the phase-in of
actuarial rates beginning on January 1, 2011.

On May 13, 2008, the full Senate approved S. 2284 to reauthorize the NFIP
through 2013, increase the amount of premiums collected to reduce the cost of future
claims, and expand the program to address concerns brought forth after the 2004 and
2005 hurricane seasons. S. 2284 is substantially similar to H.R. 3121, except that the
Senate legislation would forgive the program’s $17.5 billion in outstanding debt to
the Treasury and exclude coverage for wind damages.
Some stakeholder groups have expressed concerns about making abrupt changes
to the NFIP, particularly phasing out the subsidized premiums. They point to a need
for flood insurance reform but say changes should be made in the broader context of
program reauthorization. NFIP authority expires September 30, 2008.
Many private insurers oppose the inclusion of wind coverage, claiming the
insurance industry is capable of insuring wind coverage. Opponents also stress that
including the wind peril in the program would expose the program to unnecessary
future indebtedness to the Treasury. Supporters insist that the federal flood insurance
program lost billions due to its lack of a wind damage provision. The reason is that claim
adjusters arguably attributed all damage, including obvious wind damages, to flood.

Summary of H.R. 3121 and S. 2284
H.R. 3121 is substantially similar to S. 2284 in that both bills would modify the
NFIP to bring more consumers into the system and gradually phase out premium
subsidies currently available for structures built prior to the mapping and
implementation of NFIP floodplain management requirements — the so-called Pre-
Flood Insurance Rate Maps (Pre-FIRM) structures.¹ The bills would achieve these
outcomes in different ways.
Specifically, H.R. 3121 would: (1) phase out subsidized premiums for some
policyholders; (2) require FEMA for the first time to map the nation’s 500-year
floodplain and areas that would be flooded if a dam or levee failed; (3) notify
borrowers of requirements making flood insurance potentially available to all
homeowners, and not just to those in the 100-year floodplain, as part of the Real
Estate Settlement Procedures Act (RESPA) process; (4) provide for the purchase of
optional insurance coverage for wind as well as water damage; and (5) extend the
NFIP five years through September 30, 2013.
S. 2284, like H.R. 3121, would phase out the premium subsidies on pre-FIRM
properties, require mapping the 500-year floodplain and areas behind levees, require
borrowers to be notified about the availability of flood insurance, and extend the
program through fiscal 2013. The Senate bill, however, would: (1) forgive the debt
owed to the Treasury; (2) continue to exclude coverage for wind damage; (3)
establish a reserve fund that maintains a balance equal to 1% of total potential loss
exposure of the program to pay extraordinary future claims; (4) establish an
“ombudsman” or consumer advocate within FEMA to ensure that the Write Your
Own companies pay claims in an appropriate manner; and (5) create a nonpartisan
commission to examine the proper approach to manage catastrophic risks.
Table 1 provides a detailed side-by-side comparison of key provisions in H.R.

3121 and S. 2284.²

¹ Pre-FIRM buildings pay heavily discounted rates on the first $35,000 of their structure’s
insured value, and full risk-based premium rates for the remaining insured value.
² Both the House and Senate passed versions refer to the FEMA “Director.” In 2006,
Congress enacted legislation (P.L. 109-295, 120 Stat. 1396) that identified the head of
FEMA as the “Administrator.” Table 1 uses the title “Administrator.”

Table 1. Side-by-Side Comparison of Flood Insurance Reform Legislation: H.R. 3121 and S. 2284
^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^T^itle^{Flood In}^s^u^ran^{ce R}^e^f^o^rm^an^{d Modern}^ization^A^c^{t of}²⁰⁰⁷^{Flood In}^s^u^ran^{ce R}^e^f^o^rm^an^{d Modern}^ization^A^c^{t of}²⁰⁰⁷
^P^u^rp^o^s^e^T^o^p^r^o^t^{ect th}^{e in}^teg^r^ity^o^f^th^{e NFIP}^b^y^f^u^lly^f^uⁿ^dⁱⁿ^g^exⁱ^s^tⁱⁿ^g^T^o^a^ddres^s^t^h^{e prog}^ram^’^s^debt^t^o^t^h^{e U}^.^S^.^T^r^eas^u^r^y^aⁿ^d
^leg^a^{l o}^b^lig^atioⁿ^s^an^dⁱⁿ^creasin^g⁽¹⁾ⁱⁿ^cen^tiv^{es f}^o^{r h}^o^m^e^o^wⁿ^e^rs^stren^g^t^h^eⁿ^its^fⁱⁿ^aⁿ^c^{ial so}^lv^en^cy^to^en^su^{re it can}^p^a^y^f^u^tu^{re claim}^s^.
^aⁿ^d^co^m^m^uⁿ^{ities to}^p^a^rticip^{ate in}^th^{e p}^r^o^g^ram^an^d⁽²⁾^(S^{ec. 102)}
^aw^aren^es^s^of^both^f^l^{ood ris}^k^s^an^d^t^h^e^q^u^ality^ofⁱⁿ^f^o^rm^ation
^r^e^ga^r^dⁱⁿ^g^suc^h^rⁱ^sks.^W^o^uld^a^l^so^e^x^p^a^nd^the^NFI^P^to^m^a^ke
^o^p^tioⁿ^a^{l w}ⁱⁿ^d^co^v^e^rag^e^av^ailab^l^{e to}^NFIP^p^a^rticip^an^ts.
^{(Sec. 2(a))}
^P^r^o^g^r^a^m^E^x^t^e^nsi^oⁿ^W^o^u^l^d^r^e^a^u^t^h^o^rⁱ^z^e^t^h^e^N^F^I^P^fi^ve^y^e^a^r^{s t}^h^r^o^{ugh Se}^p^t^e^m^b^e^r³⁰^,^S^a^m^e^as^H^.^R^.^{3121. (S}^{ec. 104)}
^{2013. (S}^{ec. 27)}
^Reform^{of Prem}^ium^{Rate Structure}
ⁱ^{ki/CRS-RL34367}^Iⁿ^c^r^e^a^s^eⁱⁿ^A^nnua^l^W^o^ul^d^a^u^t^h^o^rⁱ^z^e^a^nnua^lⁱⁿ^c^r^e^a^s^eⁱⁿ^N^F^I^P^p^r^e^mⁱ^u^m^s^t^o^b^e^W^o^ul^d^a^u^t^h^o^rⁱ^z^e^a^nnua^lⁱⁿ^c^r^e^a^s^eⁱⁿ^N^F^I^P^p^r^e^mⁱ^u^m^s^t^o^b^e^c^a^p^p^e^d
^g/w^Lⁱ^m^itatioⁿ^oⁿ^P^r^em^iu^m^{capped at}^15%^(u^{p f}^r^om^10%^{). (S}^{ec. 11)}^at^15%^(u^{p f}^r^om^10%⁾^f^o^r^m^o^s^t^propertⁱ^e^s^an^{d 25%}^f^o^{r propert}ⁱ^e^s
^s^.or^In^creas^es^th^{at h}^a^v^e^los^t^th^{e en}^titlem^eⁿ^t^{to s}^u^bs^{idized rates}^.^{(Sec. 106)}
^le^ak
^Red^u^ctioⁿ^o^f^P^r^em^iu^m^W^o^u^l^d^req^u^{ire th}^{e A}^d^mⁱⁿⁱ^strato^{r o}^f^th^e^F^e^d^e^{ral Em}^erg^eⁿ^c^y^Doesⁿ^o^{t m}^eⁿ^tⁱ^oⁿ^t^h^{e ph}^as^e-ⁱⁿ^of^actu^a^{rial rates}^f^o^{r pre-}^FIR^M
^://wiki^{Rate Su}^b^s^id^ies^Man^a^g^e^m^eⁿ^t^A^g^en^cy^(FE^M^A)^t^o^ph^as^e-ⁱⁿ^actu^a^{rial rates}^f^o^r^s^t^r^u^ctu^r^es^bu^{t, beg}ⁱⁿⁿⁱⁿ^g^{90 day}^s^af^{ter th}^{e en}^actm^eⁿ^t^of^th^{e law}^,
^h^ttpⁿ^oⁿ^r^esⁱ^d^en^tⁱ^a^l^(com^m^e^rci^a^l⁾^pre-^F^l^{ood In}^s^u^ran^{ce R}^a^t^e^Map^th^{e p}^o^t^en^{tial to}^o^b^t^ain^l^e^s^s^th^an^actu^a^{rial rates is elim}ⁱⁿ^ated^f^o^r
^(F^IR^{M) propert}ⁱ^e^s^an^{d pre-}^F^I^R^M^propertⁱ^e^s^t^h^at^a^r^e^not^t^h^e^“^p^ro^sp^ectiv^eⁱⁿ^su^red^s^.”^T^h^{is w}^{ill ap}^p^l^y^to^“^p^ro^sp^ectiv^{e in}^su^red^s^”
^pri^m^ary^resⁱ^den^{ce of}^ei^t^h^{er t}^h^{e ow}ⁿ^e^{r or a t}^eⁿ^aⁿ^t^on^Jan^u^a^ry^1,^w^h^o^{are pol}ⁱ^c^y^h^ol^ders^ofⁿ^oⁿ^-^resⁱ^den^tⁱ^a^l^s^t^ru^ct^u^r^es^,^no^n-p^rⁱ^m^a^r^y
^{2011. FEMA}^w^o^u^l^d^{be au}^th^{orized to as}^s^e^s^s^an^addition^a^{l 15%}^resid^eⁿ^{ces, sev}^e^{re rep}^e^titiv^{e lo}^{ss p}^r^o^p^e^{rties, p}^r^o^p^e^{rties th}^at
^oⁿ^t^o^p^o^f^r^o^utⁱⁿ^e^a^nnua^l^r^a^t^eⁱⁿ^c^r^e^a^s^e^s^fo^r^t^h^o^s^e^p^r^o^p^e^r^tⁱ^e^s^uⁿ^d^erg^o^im^prov^em^en^ts^{or ren}^o^v^a^tion^s^ex^ceedin^g^{30% of}^th^{e f}^a^ir
^uⁿ^til^th^e^actu^a^rial^{rate is ach}^iev^e^d^.^Sp^ecifⁱ^{es th}^{at th}^{e ag}^g^r^eg^ate^m^a^r^k^e^t^v^a^l^u^{e of}^t^h^{e propert}^y^,^an^{d an}^y^propert^y^t^h^at^s^u^s^t^aiⁿ^s
ⁱⁿ^creas^{e in}^ch^arg^{eable prem}^iu^m^rates^du^rin^g^an^y^12-^m^oⁿ^t^h^dam^a^g^e^ex^ceedin^g^{50% of}^th^{e f}^a^{ir m}^a^rke^t^va^l^u^e^of^th^{e property}
^{period, h}^o^w^e^v^e^{r, m}^a^yⁿ^o^{t ex}^{ceed 2}⁰^{% f}^o^{r n}^oⁿ^-^resⁱ^den^tial^af^{ter en}^actm^eⁿ^t^o^f^th^{e b}^{ill. [See b}^e^lo^w^sectioⁿ^,^“^P^h^a^se-^Iⁿ^o^f^Rate
^propertⁱ^e^s^an^{d 25%}^f^o^{r n}^oⁿ^-^pri^m^ary^resⁱ^den^ces^.^In^creas^es^From^R^e^m^a^ppin^g^”^f^o^{r 2-}^y^{ear ph}^as^e-ⁱⁿ^of^actu^a^{rial rates}
^(S^{ec. 4(c)(2)(B))}^f^o^l^l^o^wⁱⁿ^g^t^h^{e pu}^blⁱ^catⁱ^oⁿ^ofⁿ^e^w^f^l^{ood m}^a^ps^{.] (S}^{ec. 106)}
^Ex^ten^s^ioⁿ^o^f^P^r^em^iu^m^Wou^l^d^requⁱ^r^e^ph^as^e-ⁱⁿ^of^act^u^a^ri^al^rat^e^s^onⁿ^e^w^l^y^pu^rch^a^s^e^d^Wou^l^{d proh}ⁱ^bⁱ^t^t^h^{e A}^d^mⁱⁿⁱ^s^t^rat^o^{r f}^r^om^of^f^e^riⁿ^g^f^l^{ood i}ⁿ^s^u^ran^c^e
^{Rate Su}^b^s^id^y^oⁿ^New^pre-^FIR^M^properties^u^sⁱⁿ^g^th^e^s^a^m^e^ph^as^e-ⁱⁿ^s^t^ru^ctu^r^{e th}^at^to^p^r^o^s^p^ectiv^{e in}^su^re^r^s^a^t^{less th}^an^actu^a^{rial rates if}^th^{e p}^r^o^p^e^rty
^P^o^{licies o}^r^L^a^p^s^ed^P^o^licies^no^nr^e^sⁱ^d^eⁿ^tⁱ^a^l^aⁿ^d^no^n-p^rⁱ^m^a^r^y^ho^m^e^{s w}^o^ul^d^b^e^sub^j^e^c^t^t^o^{is n}^o^{t in}^su^red^w^ithⁱⁿ⁹⁰^d^a^y^s^o^f^en^actm^eⁿ^t^o^f^th^{e law}^,^th^{e p}^o^licy
^uⁿ^d^{er th}^{e leg}ⁱ^s^l^ation^.^(S^{ec. 4(b)(2)(C}⁾⁾^laps^{ed as}^{a res}^u^{lt of}^th^{e deliberate ch}^{oice of}^t^h^e^p^o^licy^h^{older or}
^th^e^p^r^o^s^p^ectiv^{e in}^su^red^ref^u^sed^to^accep^{t an}^o^f^f^e^{r f}^o^{r m}^itig^atioⁿ
^as^sⁱ^s^t^an^{ce f}^o^llowⁱⁿ^g^{a m}^a^j^o^{r dis}^a^s^t^er.
^(S^{ec. 106(a))}

^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^Mⁱⁿⁱ^m^u^m^A^nnua^l^N^o^si^mⁱ^l^a^r^p^r^o^vⁱ^sⁱ^o^n.^W^o^ul^dⁱⁿ^c^r^e^a^s^e^t^h^e^a^nnua^l^d^e^d^u^c^tⁱ^b^l^e^fr^o^m^$¹^,⁰⁰⁰^t^o^{$1,500 f}^o^r
^Ded^u^ctib^{le f}^o^{r P}^r^e-^FIRM^pre-^F^I^R^M^propertⁱ^e^s^wⁱ^t^h^cov^e^rag^e^of^l^e^s^s^t^h^an^{$100,000, an}^d
^Propertⁱ^e^s^f^r^om^{$1,000 t}^o^$2,000^f^o^{r pre-}^F^I^R^M^propertⁱ^e^s^wⁱ^t^h^cov^e^rag^e^of
^m^o^{re t}^h^an^$100,000.^Miⁿⁱ^m^u^m^pos^t^-^F^I^R^M^propert^y^dedu^ctⁱ^b^l^e^s
^w^o^u^l^{d i}ⁿ^creas^{e f}^r^om^{$500 t}^o^{$750 f}^o^{r cove}^r^a^ge^l^e^s^s^t^h^an
^{$100,000 an}^{d f}^r^om^{$500 t}^o^{$1,000 f}^o^r^c^o^ve^rag^e^g^r^eat^{er t}^h^an
^{$100,000. (S}^{ec. 113)}
^5-^Y^{ear D}ⁱ^s^c^ouⁿ^t^of^F^l^ood^Wou^l^d^c^l^a^rⁱ^f^y^t^h^at^peopl^{e f}^o^{rced t}^o^pu^rch^a^s^e^f^l^{ood i}ⁿ^s^u^ran^c^e^No^sim^{ilar p}^r^o^v^isioⁿ^.
^In^s^u^ran^{ce R}^a^tes^f^o^r^as^{a res}^u^l^t^ofⁿ^e^w^f^l^oodⁱⁿ^s^u^ran^ce^rat^e^m^a^ps^w^h^{o h}^a^v^e^lⁱ^v^{ed i}ⁿ
^P^r^o^p^e^{rties in}^Fo^rm^erly^an^{area w}^h^{ere t}^h^e^lev^ees^w^e^{re prev}^iou^s^ly^certif^{ied, an}^{d h}^a^v^e
^P^r^{otected A}^r^easⁿ^o^w^b^een^d^ecertif^ied^,^w^{ill receiv}^e^a^g^r^ace^p^e^rio^d^o^f^fⁱ^v^e^y^ears
ⁱⁿ^w^h^ich^th^ey^w^{ill b}^e^en^titled^to^{a 5}⁰^%^red^u^ctioⁿⁱⁿⁱⁿ^su^ran^c^e
^prem^iu^m^s^w^h^{ile th}^{e lev}^ees^{are bein}^g^recertif^{ied. (Sec. 22(e))}
^P^h^as^e-^In^of^R^a^{te In}^creas^es^Wou^l^{d requ}ⁱ^r^{e N}^F^{IP t}^o^provⁱ^d^e^a^5-^y^{ear ph}^as^e-ⁱⁿ^of^f^l^ood^Wou^l^d^requⁱ^r^{e t}^h^at^owⁿ^e^rs^of^propertⁱ^e^s^m^a^{pped i}ⁿ^t^o^t^h^{e 100-}^y^ear
^F^r^om^R^e^m^a^ppiⁿ^gⁱⁿ^su^ran^{ce p}^r^e^m^iu^m^s^f^o^{r n}^e^w^l^y^co^v^e^red^lo^w^-^co^{st p}^r^o^p^e^rties^f^l^{ood pl}^aiⁿ^m^u^s^t^pay^rat^e^s^t^h^a^t^a^c^c^u^r^at^el^y^ref^l^ect^t^h^{e cu}^rren^t^ri^s^k
ⁱ^{ki/CRS-RL34367}^{placed w}^ithⁱⁿ^{a f}^l^oodplain^th^ro^{ugh a}ⁿ^up^d^a^tⁱ^{ng o}^f^t^h^e^fl^o^o^d^of^f^l^ood^t^o^s^u^ch^propertⁱ^e^s^.^Propertⁱ^e^s^cov^e^{red by}^f^l^oodⁱⁿ^s^u^ran^c^e
^g/wⁱⁿ^s^u^ran^{ce rate m}^a^ps^if^th^{e v}^a^lu^{e of}^t^h^e^ho^m^e^doesⁿ^o^{t ex}^ceed^{at th}^{e tim}^{e o}^f^rem^a^p^pⁱⁿ^g^w^ill^h^a^v^e^th^eⁿ^e^w^{rates p}^h^asedⁱⁿ^o^v^{er a}
^s^.or^{75% of}^th^{e s}^t^{ate m}^e^dian^h^o^m^e^v^a^lu^{e. (Sec. 22(f}⁾⁾^t^w^{o y}^{ear peri}^{od at}^t^h^{e rat}^e^of^50%^pe^r^y^e^a^r^.^T^h^{e pract}ⁱ^cal
^le^ak^ap^p^licatioⁿ^o^f^th^{is p}^r^o^v^isioⁿ^w^o^u^l^d^b^e^{a p}^r^o^h^ib^itioⁿ^ag^ain^s^t
^NFIP^’^s^cu^rren^t^{practice of}^a^l^l^o^wⁱⁿ^g^properties^th^{at are m}^a^pped
^://wikiⁱⁿ^t^o^t^h^{e 100-}^y^{ear f}^l^{ood pl}^aiⁿ^t^oⁱⁿ^defⁱⁿⁱ^t^e^l^y^pay^rat^e^s^t^h^at^ref^l^ect
^h^ttp^th^{eir o}^l^d^risk^lev^e^{l. W}^o^u^l^d^a^l^so^p^r^o^h^ib^{it th}^{e A}^d^mⁱⁿⁱ^strato^{r f}^r^o^m
^adj^u^s^tin^g^th^{e ch}^arg^{eable prem}^iu^m^{rate f}^o^{r properties}ⁱⁿ^a^l^l^a^r^eas
^{located in}^th^e^St.^L^o^uⁱ^s^Dis^t^{rict of}^th^{e Mis}^sⁱ^on^Valley^Divⁱ^sⁱ^on^of
^t^h^{e U}^.^S^.^A^r^m^y^C^o^{rp of}^En^gⁱⁿ^eers^.^(S^{ec. 108)}
^Coⁿ^s^id^eratioⁿ^sⁱⁿ^No^sim^ilar^p^r^o^v^isioⁿ^.^W^o^u^l^d^r^e^q^u^{ire NFIP}^to^u^s^{e actu}^a^{rial p}^rⁱⁿ^cip^l^e^sⁱⁿ^d^e^t^e^r^mⁱⁿⁱⁿ^g
^Determⁱⁿⁱⁿ^g^Ch^arg^eab^le^rates^,^an^{d to con}^s^{ider catas}^troph^{ic lo}^{ss y}^earsⁱⁿ^th^{e calcu}^latioⁿ^o^f
^Pr^e^mⁱ^u^m^hi^st^o^rⁱ^c^a^l^a^nnua^l^o^b^lⁱ^g^a^tⁱ^o^{ns o}^f^t^h^e^N^F^I^P^.⁽^S^e^c^.¹¹⁴⁾
^M^a^{ndatory Purchas}^{e Requirem}^ents
^E^x^p^a^nsi^o^{n o}^f^M^a^nd^a^t^o^r^y^W^o^u^l^d^req^u^ire^th^{e Go}^v^e^rn^m^eⁿ^t^A^cco^uⁿ^t^ab^ility^Of^fⁱ^{ce (GA}^O⁾^W^o^u^l^d^req^u^{ire th}^{at state ch}^artered^len^dⁱⁿ^gⁱⁿ^stitu^tioⁿ^s^m^u^{st b}^e
^Co^v^e^rag^e^Req^u^irem^en^{t to}^{to con}^d^u^c^{t a s}^t^u^d^y^of^th^{e im}^{pact of}^am^en^din^g^th^{e Flood}^s^u^bj^{ect to reg}^u^l^ation^s^by^th^{at s}^t^{ate th}^{at are con}^s^is^ten^t^w^ith^th^e
^{State R}^e^g^u^l^{ated L}^eⁿ^dⁱⁿ^g^Dⁱ^s^a^s^t^{er Prot}^ectⁱ^o^{n A}^c^t^of^{1973 t}^o^ex^t^eⁿ^d^N^F^IP’^s^m^aⁿ^d^at^ory^N^F^IP’^s^m^aⁿ^d^at^ory^f^l^{ood i}ⁿ^s^u^ran^{ce pu}^rch^a^s^e^requⁱ^r^em^en^t^s^.
^In^stitu^tioⁿ^pu^rch^a^s^e^req^u^irem^en^ts^{to properties}ⁱⁿ^s^p^{ecial f}^l^{ood h}^azard^(S^{ec. 109)}

^areas^(SFHA⁾^th^{at are cov}^e^{red by}^{a m}^o^rtg^a^g^e^loan^is^s^u^{ed by}^a
ⁿ^oⁿ^-^f^e^d^e^rally^reg^u^l^ated^len^dⁱⁿ^gⁱⁿ^stitu^tioⁿ^.^{(Sec. 3}⁽^a)(2⁾⁾

^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^Gran^ts^f^o^{r Ou}^treach^to^W^o^u^l^{d au}^th^oriz^e^{$50 m}^illion^f^o^{r each}^of^fⁱ^s^{cal y}^ears²⁰⁰⁸^No^sim^{ilar p}^r^o^v^isioⁿ^.
^P^r^operty^Owⁿ^e^rs^an^d^t^h^r^o^ugh^{2012 f}^o^{r F}^E^MA^t^o^m^a^k^e^g^r^an^t^s^t^o^l^o^c^a^l^g^o^v^e^rn^m^eⁿ^t
^Re^nte^r^s^ag^en^{cies f}^o^{r o}^u^treach^activ^{ities d}^e^sigⁿ^e^d^t^o^eⁿ^co^u^r^ag^{e an}^d
^f^{acilitate th}^{e pu}^rch^a^s^e^of^f^l^oodⁱⁿ^s^u^ran^ce.^L^o^{cal g}^o^v^e^rn^m^eⁿ^t^s
^w^o^ul^d^use^t^h^e^gr^aⁿ^t^s^t^o^no^tⁱ^f^y^o^w^ne^r^s^aⁿ^d^r^e^nt^e^r^{s a}^b^o^u^t^SFH^A
^an^{d th}^{e m}^aⁿ^d^atory^pu^rch^a^s^e^r^e^q^uⁱ^r^em^en^{t, an}^{d edu}^{cate s}^u^ch
^owⁿ^e^rs^an^{d ren}^t^ers^reg^a^rdiⁿ^g^t^h^{e f}^l^{ood ri}^s^k^an^{d t}^h^{e ben}^e^fⁱ^t^s
^an^{d cos}^t^s^of^m^aⁱⁿ^t^aⁱⁿⁱⁿ^g^{or acqu}ⁱ^riⁿ^g^f^l^{ood i}ⁿ^s^u^ran^ce.^F^E^MA
^w^o^u^l^d^b^e^req^u^ired^to^su^b^m^{it a rep}^o^r^t^t^o^C^oⁿ^g^r^{ess id}^en^tif^yⁱⁿ^g
^an^{d des}^c^ribin^g^th^{e m}^a^rk^etin^g^an^{d ou}^treach^ef^f^o^rts^uⁿ^d^{er th}^e
^NF^IP^{. (S}^{ec. 15(a))}
^No^tif^icatioⁿ^to^T^eⁿ^aⁿ^t^{s o}^f^W^o^u^l^d^req^u^{ire th}^{e FEMA}^A^d^mⁱⁿⁱ^strato^{r to}ⁿ^o^tif^y^ten^aⁿ^t^{s o}^f^No^sim^{ilar p}^r^o^v^isioⁿ^.
^A^v^ailab^ility^o^f^Coⁿ^t^en^ts^th^{e av}^ailab^ility^o^f^coⁿ^t^eⁿ^t^sⁱⁿ^su^ran^{ce an}^d^w^h^{ere to}^o^b^t^ain
^In^s^u^ran^c^e^cov^e^rag^e^{. Sets}^ou^{t con}^t^en^ts^of^th^{e n}^o^{tice. (Sec. 10)}
ⁱ^{ki/CRS-RL34367}^N^o^tⁱ^{ce of}^F^l^{ood In}^s^u^ran^c^e^A^v^ailab^ility^Un^d^e^r^W^o^u^l^d^am^en^d^Sec^tⁱ^oⁿ⁵⁽^b⁾^o^f^th^{e Real Estate Settlem}^eⁿ^t^Procedu^r^es^A^c^t^of^{1974 (RE}^S^P^A⁾^t^o^creat^{e a n}^e^wⁿ^o^tⁱ^c^e^S^a^m^e^as^H^.^R^.^{3121. (S}^{ec. 124)}
^g/w^R^E^S^P^A^’^s^G^{ood F}^aⁱ^t^h^provⁱ^sⁱ^oⁿ^t^o^en^s^u^{re t}^h^atⁱ^ndi^vⁱ^du^al^s^w^h^{o pu}^rch^a^s^e^h^o^m^e^sⁱⁿ
^s^.or^Estim^ate^areas^of^el^ev^at^{ed f}^l^{ood ri}^s^k^(w^h^e^t^h^e^r^{or n}^o^t^t^h^{e propert}^yⁱ^s
^le^ak^l^o^c^a^t^e^dⁱⁿ^{a s}^p^{ecial f}^l^{ood h}^{azard area) are m}^a^{de aw}^{are of}^t^h^e
^ri^s^k^an^{d g}ⁱ^v^eⁿ^an^opport^uⁿⁱ^t^y^t^o^pu^rch^a^s^e^f^l^{ood i}ⁿ^s^u^ran^ce.
^://wiki^{(Sec. 20)}
^h^ttp^Civ^{il P}^eⁿ^a^{lties f}^o^{r L}^eⁿ^dⁱⁿ^g^Wou^l^{d i}ⁿ^creas^{e t}^h^{e ci}^vⁱ^l^pen^a^l^t^y^f^r^om^{$350 t}^o^{$2,000 f}^o^r^Wou^l^{d i}ⁿ^creas^{e t}^h^{e ci}^vⁱ^l^pen^a^l^t^y^f^r^om^{$350 t}^o^{$2,000 f}^o^{r l}^eⁿ^d^ers
^In^stitu^tioⁿ^s^l^eⁿ^d^ers^t^h^at^{do n}^o^t^en^f^o^{rce t}^h^{e m}^aⁿ^d^at^ory^f^l^{ood i}ⁿ^s^u^ran^c^e^t^h^at^{do n}^o^t^eⁿ^{force t}^h^{e m}^aⁿ^d^at^ory^f^l^{ood i}ⁿ^s^u^ran^{ce pu}^rch^a^sⁱⁿ^g
^p^u^r^c^ha^si^ng^r^e^q^uⁱ^r^e^m^eⁿ^t^s^.^T^h^e^a^nnua^l^c^a^p^oⁿ^fi^ne^s^t^h^a^t^c^aⁿ^b^e^requⁱ^r^em^en^t^.^(S^{ec. 110)}

^l^e^vⁱ^{ed ag}^ai^nst^{a l}^eⁿ^d^{er w}^o^u^l^{d i}ⁿ^creas^{e f}^r^om^{$100,000 t}^o
^{$1,000,000. Woul}^{d al}^s^o^{add a “}^s^af^{e h}^a^{rbor” prov}ⁱ^sⁱ^oⁿ^t^o
^{protect m}^o^rtg^a^g^e^len^d^ers^f^r^om^“^t^echⁿⁱ^{cal n}^oⁿ^c^om^pliaⁿ^{ce” w}^ith
^f^l^oodⁱⁿ^s^u^ran^ce^requⁱ^r^em^en^t^s^an^{d “}^uⁿⁱⁿ^t^en^{ded cl}^eri^cal^errors^”
^b^y^statin^g^th^{at n}^o^p^eⁿ^a^{lties m}^a^y^b^e^im^p^o^s^ed^oⁿ^len^d^{ers w}^h^o
^m^a^k^e^g^ood^f^aⁱ^t^h^ef^f^o^rt^s^t^o^com^p^l^y^wⁱ^t^h^t^h^{e requ}ⁱ^r^em^en^t^s^.^T^h^e
^$¹^m^illioⁿ^cap^w^o^u^l^dⁿ^o^t^ap^p^l^y^to^reg^u^l^ated^len^dⁱⁿ^g
ⁱⁿ^stitu^tioⁿ^s^d^u^rin^g^{a calen}^d^a^{r y}^{ear if}^{, in}^an^y^th^{ree o}^f^th^{e f}ⁱ^v^e
^calen^{dar y}^ears^im^m^e^dⁱ^a^t^ely^precedin^g^th^{at calen}^{dar y}^{ear, th}^e
ⁱⁿ^stitu^tioⁿ^w^a^{s assessed}^p^eⁿ^a^{lties th}^{at to}^taled^$¹^m^illioⁿ^.
^{(Sec. 6)}

^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^Es^crow^of^F^l^{ood In}^s^u^ran^c^e^Wou^l^{d requ}ⁱ^r^{e t}^h^at^l^eⁿ^dⁱⁿ^gⁱⁿ^stitu^tⁱ^oⁿ^s^pl^ace^f^l^{ood i}ⁿ^s^u^ran^c^e^W^o^u^l^d^req^u^{ire sta}^t^e^aⁿ^d^f^e^d^e^rally^-^r^eg^u^l^ated^len^d^{ers to}ⁱⁿ^clu^d^e
^Pa^y^m^eⁿ^t^s^pay^m^en^tsⁱⁿ^to^aⁿ^es^crow^accouⁿ^t^on^beh^a^lf^of^th^{e borrow}^e^r.^NFIP^prem^iu^m^am^ouⁿ^t^s^w^ith^each^m^o^rtg^a^g^e^pay^m^en^ts^w^ith^th^es^e
^T^h^{e req}^u^irem^en^{t w}^o^u^l^d^ap^p^l^y^to^an^y^m^o^rtg^a^g^e^o^u^tstan^dⁱⁿ^g^o^r^am^ouⁿ^t^s^bein^g^{placed in}^es^crow^{to pay}^th^{e NFIP}^prem^iu^m^.
^en^teredⁱⁿ^to^oⁿ^o^r^af^{ter th}^{e ex}^pⁱ^ratioⁿ^o^f^th^{e 2}^-^y^ear^p^e^rⁱ^o^d^(S^{ec. 111(a))}
^b^e^giⁿⁿⁱ^{ng o}ⁿ^t^h^e^d^a^t^e^o^f^eⁿ^a^c^t^m^e^nt^o^f^l^a^w^.
^{(Sec. 20)}
^S^t^u^d^y^of^Econ^omⁱ^c^Ef^f^ect^s^Wou^l^{d requ}ⁱ^r^{e t}^h^at^t^h^e^F^E^MA^A^d^mⁱⁿⁱ^s^t^rat^o^{r s}^t^u^d^y^an^{d report}^No^sim^{ilar p}^r^o^v^isioⁿ^.^Ho^w^e^v^e^{r, w}^o^u^l^d^req^u^{ire GA}^{O to}^rep^o^r^{t to}
^o^f^Ch^argⁱⁿ^g^A^c^tu^arially^-^{to C}^oⁿ^g^r^es^s^on^th^{e econ}^o^mⁱ^c^ef^f^ects^of^ch^argⁱⁿ^g^f^u^{ll actu}^a^rial^C^oⁿ^g^r^es^s^w^ithⁱⁿ^on^{e y}^{ear of}^th^{e en}^actm^eⁿ^t^of^th^{e law}^th^{e n}^u^m^ber
^B^a^sed^P^r^em^iu^m^{Rates f}^o^r^ri^s^k^premⁱ^u^m^s^onⁿ^oⁿ^-^p^rⁱ^m^ary^resⁱ^den^{ce an}^{d n}^oⁿ^-^resⁱ^den^tⁱ^a^l^an^{d e}^x^p^e^rⁱ^eⁿ^{ce of}^N^F^{IP i}ⁿ^s^u^{red propert}ⁱ^e^s^con^s^t^r^u^c^t^e^{d pri}^o^{r t}^o
^P^r^e-^FIR^M^Stru^ctu^r^es^pre-^FIR^M^s^t^ru^ctu^r^es^{. (Sec. 29)}^{1976 (pre-}^F^IR^{M s}^t^ru^ct^u^r^es^{) or area m}^a^ppiⁿ^g^.^(S^{ec. 132(c))}
^C^overage
^M^a^xi^m^u^m^Co^ve^r^a^ge^Wou^l^{d i}ⁿ^creas^{e cov}^e^rag^e^lⁱ^mⁱ^t^s^f^r^om^$250,000^(s^t^r^u^c^t^u^{re) an}^d^No^sim^{ilar p}^r^o^v^isioⁿ^.
^Lⁱ^m^its^{$100,000 (con}^t^e^nt^s⁾^t^o^{$335,000 (s}^t^r^u^c^t^u^{re) an}^{d $135,000}
^(con^t^eⁿ^t^s⁾^f^o^{r an}^y^sⁱⁿ^g^l^e^-famⁱ^l^y^dw^el^lⁱⁿ^g^an^{d f}^r^om^$500,000
ⁱ^{ki/CRS-RL34367}^t^o^{$670,000 for s}^t^ru^ct^u^r^es^an^{d rel}^a^t^e^{d con}^t^en^t^s^ofⁿ^oⁿ^r^esid^en^{tial p}^r^o^p^e^{rties. (Sec. 8}⁾
^g/w
^s^.or^M^a^nd^a^t^o^r^y^Co^ve^r^a^ge^A^r^eas^W^o^u^l^d^req^u^ire^th^e^GA^{O to}^stu^d^y^th^{e reg}^u^l^ato^r^y^,^fⁱⁿ^aⁿ^c^{ial, an}^d^ecoⁿ^o^mⁱ^{c f}^easib^ility^{(i.e., co}^{sts o}^f^h^o^m^e^-^o^wⁿ^ers^h^ip^{, actu}^a^rial^W^o^u^l^d^req^u^ire^th^e^FEMA^A^d^mⁱⁿⁱ^strato^{r to}^issu^{e n}^e^w^reg^u^l^atioⁿ^s^e^s^t^a^b^lⁱ^s^hⁱⁿ^g^a^r^e^vⁱ^s^e^d^d^e^fⁱⁿ^itioⁿ^o^f^a^r^e^a^s^o^f^S^F^H^A^t^h^a^t^r^e^f^l^e^c^t^a
^le^ak^so^und^ne^{ss o}^f^p^r^o^g^r^a^m^,^l^e^nd^e^r^c^o^mp^lⁱ^a^nc^e⁾^o^f^e^x^p^a^ndⁱ^{ng t}^h^e^resⁱ^du^{al ris}^k^{, in}^clu^dⁱⁿ^g^areas^locat^ed^behⁱⁿ^d^l^e^v^ees^{, dam}^s^{, or ot}^h^e^r
^://wiki^s^t^an^{dard f}^o^{r m}^aⁿ^d^at^ory^f^l^{ood i}ⁿ^s^u^ran^{ce pu}^rch^a^s^e^t^oⁱⁿ^c^l^u^d^e^pr^opertⁱ^e^sⁱⁿ^areas^of^resⁱ^du^al^ri^s^k^t^h^at^w^o^u^l^{d f}^l^{ood i}^fⁿ^o^t^f^o^r^m^aⁿ^-^m^a^{de s}^t^ru^ct^u^r^es^{. (S}^{ec. 107(b))}
^h^ttp^t^h^e^p^r^e^s^eⁿ^c^e^o^f^s^t^r^u^c^t^u^r^a^l^f^l^ood^coⁿ^t^r^o^l^m^e^a^s^u^r^e^s^s^u^c^h^a^s^W^o^u^l^{d requ}^ire^th^at^h^o^m^e^s^located^behⁱⁿ^d^lev^ees^{, dam}^s^{, an}^{d oth}^e^r
^l^e^v^ees^{, f}^l^oodw^al^l^s^{, an}^{d dam}^s^{. (S}^{ec. 3(a)(2))}^m^aⁿ^-^m^a^{de s}^t^ru^ctu^r^es^becom^e^{part of}^s^p^{ecial f}^l^{ood h}^{azard areas}
^(SFHA⁾^an^d^th^eref^{ore s}^u^bj^{ect to th}^{e in}^s^u^ran^{ce pu}^rch^a^s^e
^requ^irem^en^ts^{, bu}^{t on}^ly^af^ter^th^e^m^a^ppin^g^of^{all res}ⁱ^du^{al ris}^k^areas
ⁱⁿ^t^h^{e U}ⁿⁱ^t^e^{d S}^t^at^es^{. (S}^{ec. 107(c))}
^A^v^ailab^ility^o^f^In^su^ran^c^e^N^o^sⁱ^mⁱ^l^a^r^p^r^o^vⁱ^sⁱ^oⁿ^.^Wou^l^{d au}^t^h^ori^{ze t}^h^{e A}^d^mⁱⁿⁱ^s^t^rat^o^{r t}^o^m^a^k^e^f^l^oodⁱⁿ^s^u^ran^c^e
^f^o^{r Mu}^lti-^f^a^m^ily^P^r^o^p^e^rties^av^ailab^l^e^to^co^v^e^{r resid}^eⁿ^{tial p}^r^o^p^e^{rties o}^f^m^o^{re th}^an^f^o^u^r^uⁿ^its.
^T^h^e^m^a^xi^m^u^m^c^o^ve^r^a^g^e^a^m^o^unt^w^o^ul^d^b^e^e^q^ua^l^t^o^t^h^e^c^o^ve^r^a^ge
^am^o^uⁿ^t^m^a^d^e^av^ailab^l^{e to}^co^m^m^e^{rcial p}^r^o^p^{erties, w}^h^ich^is
^{$500,000 f}^o^{r s}^t^ru^ct^u^r^{e an}^{d $500,000 f}^o^{r con}^t^en^t^s^{. (S}^{ec. 105)}
^W^a^itin^g^P^e^rio^d^f^o^r^W^o^u^l^{d m}^a^k^e^cov^e^r^a^ge^im^m^e^diately^ef^f^ectiv^{e if}^{a policy}^is^No^sim^{ilar p}^r^o^v^isioⁿ^.

^Ef^f^ectiv^{e Date o}^f^P^o^licies^pu^rch^a^s^e^d^wⁱ^t^hⁱⁿ^{30 day}^s^of^t^h^{e pu}^rch^a^s^e^{or t}^r^an^s^f^{er of}^a
^propert^y^.^(S^{ec. 5)}

^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^N^e^w^Lⁱⁿ^e^s^o^f^C^o^v^e^r^a^g^e^Wo^u^l^d^p^r^o^v^id^e^o^p^tioⁿ^a^l^co^v^e^r^a^g^e^f^o^r^:⁽¹⁾^ad^d^itioⁿ^a^l^lⁱ^vⁱⁿ^g^No^sim^{ilar p}^r^o^v^isioⁿ^.
^ex^pen^s^es^f^o^l^l^o^wⁱⁿ^g^{a f}^l^{ood l}^o^s^s^w^h^en^t^h^{e res}ⁱ^den^{ce i}^s^uⁿ^fⁱ^t^t^o
^liv^eⁱⁿ^{, (2}^{) resid}^eⁿ^{tial b}^a^sem^eⁿ^t^im^p^r^o^v^em^en^{ts (i.e., craw}^l
^s^p^aces^an^{d oth}^e^{r en}^clos^{ed areas}^uⁿ^d^{er bu}^ildin^g^s^{), (3) bu}^sⁱⁿ^e^s^s
ⁱⁿ^terru^p^tioⁿ^f^o^r^co^m^m^e^rcial^m^u^ltif^am^ily^p^r^o^p^e^rty^,^an^d⁽⁴^{) f}^u^ll
^replacem^en^{t cos}^t^of^th^{e con}^t^en^ts^of^properties^.^{(Sec. 9)}
^Ex^ten^s^ioⁿ^o^f^P^ilo^{t P}^r^o^g^ram^W^o^u^l^d^e^x^t^eⁿ^d^t^h^r^o^u^g^h²⁰¹²^t^h^e^a^u^t^h^o^rⁱ^z^a^tⁱ^oⁿ^o^f^W^o^u^l^{d au}^th^{orize th}^{e appropriation}^of^{$240 m}^illion^an^{d ex}^ten^d
^o^f^Mitig^atioⁿ^o^f^Sev^e^re^approp^rⁱ^ation^s^{($40 m}^illion^{a y}^{ear f}^r^om^th^{e Nation}^a^{l Flood}^the^se^ve^r^e^r^e^p^e^titive^l^o^{ss p}^r^o^p^e^r^t^y^p^ilo^{t p}^r^o^g^r^a^m^thr^o^{ugh fisc}^a^l
^Rep^e^titiv^{e L}^o^{ss P}^r^o^p^e^rties^In^su^ran^{ce Fu}ⁿ^d^{) f}^o^{r th}^{e m}^itig^atioⁿ^p^ilo^{t p}^r^o^g^ram^th^{at f}^uⁿ^d^s^y^{ear 2013.}
^p^r^ev^en^tiv^{e m}^easu^r^{es f}^o^{r sev}^e^{re rep}^e^titiv^{e lo}^{ss p}^r^o^p^e^rties^(S^{ec. 130)}
^(SR^L^P⁾^{. SR}^L^P^s^are^defⁱⁿ^e^d^as^th^os^{e th}^{at s}^u^s^t^ain^f^o^u^r^{or m}^o^re
^l^o^s^s^e^s^t^o^t^a^lⁱⁿ^g^m^o^{re t}^h^an^{$20,000, o}^r^t^w^o^{or m}^o^{re l}^o^s^s^e^s^t^h^at
^cu^m^u^lativ^ely^ex^{ceed th}^{e v}^a^lu^{e of}^th^{e property}^.^{(Sec. 17)}
^Clarif^icatioⁿ^o^f^W^o^u^l^d^req^u^{ire th}^{e A}^d^mⁱⁿⁱ^strato^{r o}^f^FEMA^{, w}^ithⁱⁿ^th^ree^W^o^u^l^{d requ}^{ire th}^{at NFIP}ⁱⁿ^s^u^ran^{ce policies}^ex^pli^cⁱ^tly^s^t^{ate all}
^R^e^placem^en^{t C}^o^s^t^m^o^nt^{hs o}^f^eⁿ^a^c^t^m^e^nt^,^t^o^:⁽¹⁾ⁱ^ssue^p^l^aⁱ^{n l}^a^ngua^ge^r^e^gul^a^tⁱ^o^ns^coⁿ^d^itioⁿ^s^{, ex}^clu^s^ioⁿ^s^aⁿ^d^o^t^h^e^{r lim}^itatioⁿ^sⁱⁿ^p^l^ain^En^g^lish^an^d
^P^r^o^v^isioⁿ^s^{, Fo}^rm^{s, an}^d^to^clarif^y^th^{e ap}^p^licab^ility^o^f^rep^l^acem^en^{t co}^{st co}^v^e^r^a^g^e^f^o^rⁱⁿ^boldf^{ace ty}^{pe tw}^{ice th}^{e f}^oⁿ^t^sⁱ^{ze of}^th^{e body}^of^t^h^eⁱⁿ^s^u^ran^c^e
ⁱ^{ki/CRS-RL34367}^P^o^lⁱ^c^y^La^ngua^ge^con^t^en^t^sⁱⁿ^t^h^{e S}^t^an^{dard F}^l^{ood In}^s^u^ran^{ce Pol}ⁱ^c^y^;^{(2) rev}ⁱ^s^e^an^y^p^o^licy^.^Vio^l^atioⁿ^s^o^f^th^is^req^u^irem^en^t^w^o^u^l^d^b^e^su^b^j^{ect to}^{a f}ⁱⁿ^e
^g/w^r^e^gul^a^tⁱ^o^ns,^fo^r^m^s,^no^tⁱ^c^e^s^,^gui^d^a^nc^e^,^aⁿ^d^p^u^b^lⁱ^c^a^tⁱ^o^{ns t}^o^m^o^r^e^ofⁿ^o^t^m^o^{re t}^h^an^{$50,000 at}^t^h^{e di}^s^c^retⁱ^oⁿ^of^t^h^{e A}^d^mⁱⁿⁱ^s^t^rat^o^r.
^s^.or^clearly^des^c^{ribe th}^{e m}^eanⁱⁿ^g^o^f^fu^{ll cos}^t^of^{repair or}^(S^{ec. 134)}
^le^ak^replacem^en^{t u}ⁿ^d^{er th}^{e re}^p^l^a^cem^en^{t cos}^t^cov^e^rag^e^{; an}^{d (3)}
^r^e^vi^se^t^h^e^l^a^ngua^geⁱⁿ^fl^oodⁱⁿ^s^u^ran^{ce pol}ⁱ^cⁱ^e^s^reg^a^rdiⁿ^g^ratⁱⁿ^g
^://wiki^an^{d cov}^e^rage^{, s}^u^ch^as^clas^sⁱ^fⁱ^cation^of^bu^ildin^g^s^{, bas}^e^m^eⁿ^t^s^,^cr^a^w^{l s}^p^aces^{, detach}^{ed g}^a^rag^e^s^,^en^clos^u^r^es^below^elev^ated
^h^ttp^b^u^ildin^g^s^{, an}^{d replacem}^en^{t cos}^t^{, to m}^a^k^e^f^l^{ood pol}ⁱ^c^y
^p^r^o^vⁱ^sⁱ^oⁿ^s^c^o^nsi^s^t^e^nt^wⁱ^t^h^l^a^ngua^ge^use^d^wⁱ^d^e^l^yⁱⁿ
^h^o^m^e^owⁿ^e^rs^polⁱ^cⁱ^e^s^.^(S^{ec. 24)}
^Fina^ncia^l/B^o^rro^wⁱ^ng^Autho^r^ity
^B^o^rro^wⁱⁿ^g^A^u^th^o^r^ity^Deb^t^No^sim^{ilar p}^r^o^v^isioⁿ^.^W^o^u^l^d^elimⁱⁿ^{ate an}^y^o^b^lig^atioⁿ^s^o^w^ed^to^th^{e U.S.}^T^r^easu^r^y^b^y^th^e
^Forg^iv^en^es^s^NFIP^to^th^e^e^x^ten^t^su^ch^b^o^rro^w^e^d^su^m^s^w^e^{re u}^s^ed^to^f^uⁿ^d^th^e
^pay^m^en^t^of^cl^ai^m^s^res^u^l^tⁱⁿ^g^f^r^om^t^h^{e h}^u^rri^can^es^of^2005.
^(S^{ec. 112)}

^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^B^o^rro^wⁱⁿ^g^A^u^th^o^r^ity^N^o^sⁱ^mⁱ^l^a^r^p^r^o^vⁱ^sⁱ^oⁿ^.^Woul^d^d^e^c^r^e^a^s^e^t^h^{e borrow}ⁱⁿ^g^au^t^h^ori^t^y^f^o^r^t^h^e^N^F^IP^f^r^om
^Lⁱ^m^its^{$20.775 to $1.}^{5 billion}^.^{(Sec. 112)}
^R^e^s^e^rv^{e F}^uⁿ^d^N^o^sⁱ^mⁱ^l^a^{r prov}ⁱ^sⁱ^oⁿ^.^Wou^l^{d es}^t^a^blⁱ^s^hⁱⁿ^t^h^e^U^.^S^.^T^r^eas^u^r^y^t^h^e^N^a^tⁱ^oⁿ^a^l^F^l^ood^In^s^u^ran^c^e
^R^e^s^e^rv^{e Fu}ⁿ^d^{to m}^{eet th}^{e ex}^pected^f^u^tu^{re o}^b^lig^atioⁿ^s^o^f^th^e^NFIP
ⁱⁿ^hi^ghe^r^-^t^h^aⁿ^-a^ve^r^a^ge^l^o^{ss y}^e^a^r^s.^T^h^e^Fund^w^o^ul^d^b^e^c^a^pⁱ^t^a^lⁱ^z^e^d
ⁱⁿ^an^am^o^uⁿ^t^eq^u^a^{l to}¹^%^o^f^to^{tal p}^o^t^eⁿ^{tial lo}^{ss ex}^p^o^s^u^r^{e o}^f^all
^ou^t^s^t^aⁿ^dⁱⁿ^g^f^l^{ood i}ⁿ^s^u^ran^{ce pol}ⁱ^cⁱ^e^sⁱⁿ^f^o^rc^{e du}^riⁿ^g^t^h^{e pri}^o^r
^fⁱ^{scal y}^ear.^N^F^I^P^w^{ill b}^e^req^u^ired^to^coⁿ^t^rib^u^{te 7}^.⁵^%^o^f^reserv^e
^a^nnua^lly^{until the}^fund^{is fully}^c^a^p^ita^liz^e^d^.^Af^t^e^r^a^c^h^ie^{ving the}
^targ^{et res}^e^rv^{e, a}ⁿ^y^r^e^d^u^ctionⁱⁿ^th^{e res}^e^rv^{e w}^o^u^l^{d be replaced}
^t^h^r^o^ugh^c^o^nt^rⁱ^b^u^tⁱ^o^ns^o^f^a^t^l^e^a^s^t⁷^.⁵^%^o^f^t^h^e^t^a^r^g^e^t^a^m^o^unt^o^f^t^h^e
^r^e^se^r^v^e^a^nnua^l^l^y^.^I^f^N^F^I^Pⁱ^s^no^t^a^b^l^e^t^o^m^a^k^e^t^h^e^mⁱⁿⁱ^m^u^m
^con^t^ri^bu^tⁱ^oⁿⁱ^t^m^u^s^t^report^t^h^at^f^act^t^o^C^oⁿ^g^r^es^s^.^(S^{ec. 115)}
^R^e^pay^m^en^{t P}^l^an^f^o^r^W^o^u^l^d^r^e^q^uⁱ^r^{e FEMA}^to^su^b^m^{it a rep}^o^r^{t to}^Coⁿ^g^r^{ess th}^at^W^o^u^l^{d requ}^ire^t^h^a^t^w^h^en^ev^{er th}^{e NFIP}^h^a^s^{to borrow}^f^r^om^th^e
^B^o^rro^wⁱⁿ^g^A^u^th^o^r^ityⁱⁿ^cl^u^d^es^{a pl}^an^f^o^{r repay}ⁱ^ng^b^o^r^r^o^w^e^{d f}^uⁿ^d^s^wⁱ^t^hⁱⁿ^{10 y}^ears^.^T^r^e^a^s^ur^y^,^FE^M^A^w^o^ul^d^su^b^mⁱ^t^t^o^T^r^e^a^s^ur^y^aⁿ^d^Co^ngr^e^{ss a}
ⁱ^{ki/CRS-RL34367}^{(Sec. 12)}^s^c^h^e^du^l^e^f^o^{r repay}^m^en^t^of^f^uⁿ^d^s^.^T^hⁱ^s^r^e^portⁱⁿ^g^requⁱ^r^em^en^t
^g/w^w^o^u^l^d^coⁿ^tin^u^e^ev^ery^six^m^oⁿ^t^h^s^th^ereaf^{ter u}ⁿ^{til th}^{e b}^o^rro^w^e^d
^s^.or^f^uⁿ^d^s^{are repai}^d^{. (S}^{ed. 116)}
^le^ak
^A^d^d^itioⁿ^a^l^NFIP^Staf^f^W^o^u^l^d^a^u^t^h^o^rⁱ^z^e^t^o^b^e^a^p^p^r^o^p^r^ia^t^e^d^s^u^c^h^s^u^m^s^a^s^m^a^y^b^e^No^sim^{ilar p}^r^o^v^isioⁿ^.
^://wikiⁿ^ecessary^f^o^{r th}^{e NFIP}^t^o^hⁱ^r^e^ad^d^itioⁿ^a^{l staf}^f^to^im^p^l^em^en^t
^h^ttp^th^{e p}^r^o^v^isioⁿ^s^o^f^th^{is A}^c^{t. (Sec. 2}⁵⁾
^Mⁱ^ti^gati^oⁿ
^{Flood Mitig}^ation^W^o^u^l^d^elimⁱⁿ^{ate th}^{e lim}^itatioⁿ^oⁿ^a^g^g^r^eg^{ate am}^o^uⁿ^t^o^f^No^sim^{ilar p}^r^o^v^isioⁿ^.

^A^ssistaⁿ^c^e^P^r^o^g^r^a^m^as^sⁱ^s^t^an^{ce an}^{d allow}^f^o^r^th^e^u^s^e^of^{Flood Mitig}^ation^A^s^sⁱ^s^t^an^ce
^(F^MA^{) f}^uⁿ^d^s^t^o^dem^o^lⁱ^s^h^an^{d rebu}ⁱ^l^d^dam^a^g^e^{d propert}^y^.
^A^m^ounts^m^a^{de av}^{ailable w}^o^u^l^{d n}^o^{t be s}^u^bj^{ect to of}^f^s^ettin^g
^c^o^l^l^e^c^tⁱ^o^{ns t}^h^r^o^{ugh p}^r^e^mⁱ^u^m^r^a^t^e^{s fo}^r^f^l^{ood i}ⁿ^s^u^r^aⁿ^c^e
^cov^e^rag^e^{. (Sec. 18)}

^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^Mitig^atioⁿ^Gran^{ts f}^o^r^W^o^u^l^d^dⁱ^rect^FEMA^to^p^r^o^v^id^{e m}^itig^atioⁿ^g^r^an^{ts to}ⁱⁿ^dⁱ^vⁱ^d^u^al^No^sim^{ilar p}^r^o^v^isioⁿ^.
^In^dⁱ^vⁱ^d^u^{al Rep}^e^titiv^e^o^wⁿ^e^rs^o^f^rep^e^titiv^{e lo}^{ss p}^r^o^p^e^{rties in}^co^m^m^uⁿ^{ities th}^{at d}^oⁿ^o^t
^C^l^ai^m^s^Propertⁱ^e^s^p^a^rticip^{ate in}^th^{e NFIP}^{. [T}^h^e^{se co}^m^m^uⁿ^{ities m}ⁱ^g^h^tⁿ^o^t
^{participate becau}^s^e^th^ey^h^a^v^e^w^ith^drawⁿ^f^r^om^th^{e NFIP}^{or th}^e
^com^m^uⁿⁱ^t^y^canⁿ^o^{t m}^{eet th}^{e f}^e^{deral requ}^irem^en^ts^f^o^r
^q^u^a^lⁱ^f^yⁱ^{ng fo}^r^FE^M^A^fundⁱ^ng.^]⁽^S^e^c^.¹⁶⁾
^Verifⁱ^cation^an^d^Wou^l^{d di}^rect^F^E^MA^t^o^dev^e^l^{op a pl}^an^t^o^ve^rⁱ^fy^t^h^at^t^h^e^No^sim^{ilar p}^r^o^v^isioⁿ^.
^Maiⁿ^t^eⁿ^aⁿ^{ce of}^F^l^ood^recipⁱ^eⁿ^ts^of^Hom^e^owⁿ^e^{r Gran}^{t A}^s^sⁱ^s^t^an^{ce P}^r^og^ramⁱⁿ
^In^s^u^ran^{ce on}^Hom^e^owⁿ^e^r^Mⁱ^s^sⁱ^s^sⁱ^{ppi an}^{d R}^o^{ad Hom}^e^Gran^tsⁱⁿ^L^o^uⁱ^sⁱ^an^{a, f}^uⁿ^d^{ed b}^y
^A^s^sⁱ^s^t^an^{ce Gran}^tsⁱⁿ^D^e^p^a^r^t^m^e^nt^o^f^H^o^usi^{ng a}ⁿ^d^U^r^b^a^{n D}^e^ve^l^o^p^m^eⁿ^t^Co^m^m^uni^t^y
^Mⁱ^ssissip^pⁱ^aⁿ^d^Ro^a^d^D^e^v^e^l^opm^en^t^Bl^ock^G^r^an^t^s^{, m}^aⁱⁿ^t^aⁱⁿ^f^l^oodⁱⁿ^s^u^ran^{ce on}^t^h^ei^r
^Ho^m^e^Gran^{ts in}^L^o^uⁱ^sian^a^p^r^o^p^e^{rties as req}^u^ired^{as a co}ⁿ^d^itioⁿ^o^f^receivⁱⁿ^g^th^{e g}^r^an^ts.
^{(Sec. 32)}
^Claim^s^{and Write-Your-Ow}ⁿ^{(WYO) I}ⁿ^s^u^rers
ⁱ^{ki/CRS-RL34367}^A^d^mⁱⁿⁱ^st^r^a^tⁱ^v^e^E^x^p^e^nse^o^f^W^r^ite-^Y^o^u^r-^Owⁿ^W^o^u^l^d^req^u^ire^W^r^ite-^Y^o^u^r-^Owⁿ^(W^{YO) co}^m^p^an^{ies to}^su^b^m^it^t^o^FE^M^A^aⁿ^a^nnua^l^r^e^p^o^r^t^o^f^a^l^l^a^d^mⁱⁿⁱ^st^r^a^tⁱ^v^e^aⁿ^d^o^p^e^r^a^tⁱ^o^na^l^Wou^l^{d requ}ⁱ^r^{e t}^h^{e F}^E^MA^A^d^mⁱⁿⁱ^s^t^rat^o^rⁿ^o^t^l^a^t^e^{r t}^h^an^{180 day}^s^af^{ter en}^actm^eⁿ^t^{to con}^d^u^c^{t a ru}^lem^a^kⁱⁿ^g^proceeding^{to dev}ⁱ^s^e^a
^g/w^In^s^u^ran^{ce C}^o^m^p^an^ies^cos^t^s^of^th^{e prog}^ram^,^alon^g^w^ith^{a bien}ⁿⁱ^{al in}^depen^d^en^t^au^dit^dat^a^col^l^ectⁱ^oⁿ^m^e^t^h^odol^og^y^t^o^al^l^o^w^F^E^MA^t^o^col^l^ect^con^sⁱ^s^t^eⁿ^t
^s^.or^con^d^u^c^{ted by}^a^certif^ied^pu^blic^accouⁿ^t^an^t.^W^o^u^l^{d requ}^{ire th}^eⁱⁿ^f^o^rm^ation^on^th^{e ex}^pen^s^es^of^W^{YO com}^p^an^ies^.^W^o^u^l^{d requ}^ire
^le^ak^FEMA^A^d^mⁱⁿⁱ^s^t^{rator rev}ⁱ^ew^th^{e records}^an^{d au}^dits^to^W^{YO co}^m^p^an^{ies, w}^ithⁱⁿ⁶⁰^d^a^y^s^af^{ter th}^{e ef}^f^ectiv^{e d}^a^{te o}^f^th^e
^://wiki^determⁱⁿ^{e if}^s^u^ch^pay^m^en^ts^{are reas}^on^{able. (Sec. 31)}^fⁱⁿ^a^{l ru}^{le, to}^su^b^m^{it 5}^y^{ears o}^f^ex^p^eⁿ^s^{e lev}^e^{ls f}^o^{r sellin}^g^,^w^r^itin^g^,^an^{d s}^e^rvⁱ^cⁱⁿ^g^polⁱ^cⁱ^e^s^base^d^on^t^h^at^m^e^t^h^odol^og^y^.^T^h^e
^h^ttp^A^d^mⁱⁿⁱ^strato^{r w}^o^u^l^d^b^e^req^u^ired^to^coⁿ^d^u^c^t^a^ru^le-^m^akⁱⁿ^g
^proceedin^g^to^f^o^rm^u^l^ate^revⁱ^s^e^d^ex^pen^s^{e reim}^bu^rs^em^en^{t lev}^e^ls^f^o^r
^th^{e W}^{YO co}^m^p^an^{ies ex}^p^eⁿ^s^{es in}^sellin^g^,^w^r^itin^g^,^an^d^s^e^rv^icin^g
^f^l^oodⁱⁿ^s^u^ran^{ce pol}ⁱ^cⁱ^e^s^.^Wou^l^{d al}^s^o^requⁱ^r^{e t}^h^e^A^d^mⁱⁿⁱ^s^t^rat^o^r^t^o
^su^b^m^{it a rep}^o^{rt to}^Coⁿ^g^r^{ess o}ⁿ^th^{e ratio}ⁿ^a^{le an}^d^p^u^rp^o^s^{e o}^f^th^e
^ru^{le an}^d^d^e^gr^e^e^{to w}^h^ich^s^u^ch^ru^{le accu}^rately^repres^en^ts^th^{e tru}^e
^operatin^g^cos^t^an^{d ex}^pen^s^es^of^W^{YO com}^p^an^ies^.
^(S^{ec. 129)}
^In^f^o^rm^atioⁿ^f^r^o^m^W^r^ite-^No^sim^ilar^p^r^o^v^isioⁿ^.^W^o^u^l^d^req^u^{ire th}^{at w}^ithⁱⁿ²⁰^d^a^y^s^o^f^en^a^c^t^m^eⁿ^t^,^W^Y^Oⁱⁿ^su^rers
^You^r^-^O^wⁿ^In^s^u^rers^m^u^s^t^prov^{ide to}^t^h^{e FEMA}^A^d^mⁱⁿⁱ^s^t^{rator an}^y^bienⁿⁱ^{al report}
^{prepared in}^th^{e prior f}ⁱ^v^e^y^ears^.^T^h^e^A^d^mⁱⁿⁱ^s^t^{rator m}^u^s^t^prov^ide
^th^{ese rep}^o^r^{ts to}^GA^{O n}^o^{t later th}^an¹⁰^d^a^y^s^af^ter^r^e^ceivⁱⁿ^g^th^e
^rep^o^r^{t f}^o^{r th}^{e W}^{YO in}^su^rer^.^Anⁱⁿ^su^{rer th}^{at f}^a^{ils to}^p^r^o^v^id^{e th}^e
^r^e^port^w^o^u^l^{d be report}^e^{d t}^o^C^oⁿ^g^r^es^s^by^t^h^{e A}^d^mⁱⁿⁱ^s^t^rat^o^{r a}ⁿ^d
^fⁱⁿ^e^{d $1,000 per day}^.^(S^{ec. 129(a))}

^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^FEMA^P^a^rticip^atioⁿⁱⁿ^W^o^u^l^{d perm}^{it s}^t^{ate in}^s^u^ran^{ce com}^mⁱ^s^sⁱ^on^ers^to^s^ubm^{it a}^S^a^m^e^as^H^.^R^.^{3121. (S}^{ec. 126)}
^{State Dis}^a^s^t^{er C}^l^aim^s^req^u^{est to}^th^{e A}^d^mⁱⁿⁱ^strato^r^o^f^FEMA^to^h^a^v^e^FEMA
^Medi^atⁱ^oⁿ^Prog^ram^s^partⁱ^cⁱ^p^at^{e i}ⁿ^s^t^a^t^e^-^s^pon^s^o^{red n}^oⁿ^bⁱⁿ^diⁿ^g^m^e^di^atⁱ^oⁿ^of
^catas^troph^e-^{related in}^s^u^ran^{ce claim}^s^th^{at m}^a^yⁱⁿ^v^o^lv^{e a}
^co^m^bⁱⁿ^atioⁿ^o^f^fl^o^o^d^an^d^o^t^h^e^{r lo}^{sses. A}^{ll statem}^en^{ts m}^a^d^e
^an^{d docu}^m^en^t^s^produ^{ced du}^riⁿ^g^t^h^{e m}^e^di^atⁱ^oⁿ^w^o^u^l^{d be}
^deem^{ed priv}^ileg^e^d^,^an^{d w}^o^u^l^d^{be con}^s^{idered con}^f^iden^tial
^settlem^eⁿ^tⁿ^e^g^o^tiatioⁿ^s^m^a^d^eⁱⁿ^an^ticip^atioⁿ^o^f^litig^atioⁿ^.
^P^a^rticip^atioⁿⁱⁿ^th^{e m}^e^dⁱ^atioⁿ^w^o^u^l^dⁿ^o^{t af}^f^{ect o}^r^e^x^p^aⁿ^d^th^e
^liab^ility^o^r^rig^h^t^s^o^r^o^b^lig^atioⁿ^s^o^f^an^y^p^a^rtyⁱⁿ^coⁿ^t^ract.
^FEMA^w^o^u^l^dⁿ^o^t^{be requ}^{ired to pay}^an^y^m^e^diation^f^ees^{. (Sec.}
¹³⁾
^Reiteratioⁿ^o^f^FEMA^Uⁿ^d^e^r^t^h^e^B^unni^ng-B^e^r^e^ut^e^r^-B^l^u^m^e^na^ue^r^Fl^{ood In}^s^u^ran^c^e^W^o^u^l^{d reiterate th}^{e res}^pon^sⁱ^bility^of^FEMA^und^e^r^th^{e 2004}
^Resp^oⁿ^sib^ility^Un^d^e^{r th}^e^R^e^f^o^rm^A^c^t^of²⁰⁰⁴⁽^P^.^L^.^108-^264;^{118 S}^t^at^{. 712), w}^o^u^l^d^Ref^o^rm^A^c^{t to}^estab^lish^mⁱⁿⁱ^m^u^m^traⁱⁿⁱⁿ^g^req^u^irem^en^{ts, an}^d
^{2004 R}^e^f^o^rm^A^c^t^“^a^g^aⁱⁿ^”^dⁱ^{rect FEMA}^to^estab^lis^h^an^appeals^proces^s^w^ithⁱⁿ⁹⁰^req^u^{ire th}^{at FEMA}^rep^o^r^{t to}^Coⁿ^g^r^e^{ss w}^ithⁱⁿ^th^{ree m}^oⁿ^t^h^s^af^ter
ⁱ^{ki/CRS-RL34367}^day^s^of^en^act^m^eⁿ^t^t^h^at^polⁱ^c^y^h^ol^ders^can^use^t^o^res^o^l^v^e^deci^sⁱ^on^s^of^t^h^e^A^d^mⁱⁿⁱ^s^t^rat^o^{r rel}^a^tⁱⁿ^g^t^o^cl^ai^m^s^{, proof}^s^of^en^actm^eⁿ^t^{, des}^c^ribin^g^th^{e im}^plem^en^tation^of^each^prov^is^ionⁱⁿ^th^e^{2004 R}^e^f^o^rm^A^c^t^.
^g/w^los^s^,^an^{d los}^s^es^tim^ates^.^(S^{ec. 127)}
^s^.or
^le^ak^W^o^u^l^d^req^u^{ire th}^{e A}^d^mⁱⁿⁱ^strato^{r to}^coⁿ^tin^u^e^to^w^o^rk^w^ith^th^e
ⁱⁿ^s^u^ran^{ce in}^dus^t^r^y^,^s^t^{ate in}^s^u^ran^{ce reg}^u^l^ators^,^an^{d oth}^e^r
^://wikiⁱⁿ^terested^p^a^{rties to}^im^p^l^em^en^{t p}^r^ev^io^u^s^ly^d^e^v^e^lo^p^e^d^mⁱⁿⁱ^m^u^m
^h^ttp^trainⁱⁿ^g^an^{d edu}^cation^s^t^an^dards^f^o^{r all in}^s^u^ran^{ce ag}^en^ts^w^h^o
^s^e^l^l^f^l^{ood i}ⁿ^s^u^ran^{ce pol}ⁱ^cⁱ^e^s^.^(S^{ec. 21)}
^W^o^u^l^d^req^u^{ire th}^{e A}^d^mⁱⁿⁱ^strato^{r to}^su^b^m^it^a^rep^o^r^{t to}
^Co^ngr^e^{ss w}ⁱ^t^hⁱⁿ^si^{x m}^o^nt^{hs d}^e^sc^rⁱ^bⁱ^{ng F}^E^M^A^’s
ⁱ^m^pl^em^en^t^a^tⁱ^oⁿ^of^provⁱ^sⁱ^oⁿ^sⁱⁿ^t^h^{e R}^e^f^o^rm^A^c^t^of^2004.
^{(Sec. 21)}
^Ex^ten^s^ioⁿ^o^f^Dead^lin^{e f}^o^r^Wou^l^{d ex}^t^eⁿ^d^t^o^{180 day}^s^t^h^e^peri^{od of}^tⁱ^m^{e pol}ⁱ^c^y^h^ol^ders^No^sim^{ilar p}^r^o^v^isioⁿ^.
^Fⁱ^lⁱⁿ^g^Proof^of^L^o^s^s^h^a^v^e^t^o^fⁱ^l^e^proof^of^l^o^s^s^of^p^r^o^p^e^rt^y^.^T^h^{e F}^E^MA
^A^d^mⁱⁿⁱ^st^rat^o^{r w}^o^u^l^{d n}^o^t^{be abl}^e^t^o^den^y^{a cl}^ai^m^f^o^{r dam}^a^g^e
^b^a^sed^so^lely^oⁿ^th^{e f}^a^ilu^re^o^f^t^h^{e p}^o^licy^h^o^l^d^e^{r to}^m^{eet su}^ch
^deadlⁱⁿ^{e i}^f^t^h^{e i}ⁿ^s^u^{red dem}^oⁿ^s^t^r^at^es^{a g}^{ood cau}^s^e^f^o^{r s}^u^ch
^f^a^ilu^{re. (S}^{ec. 26)}
^P^a^y^m^en^{t of}^C^l^aim^s^to^W^o^u^l^d^p^r^o^h^ib^{it FEMA}^f^r^o^m^en^f^o^rcin^g^p^eⁿ^a^{lties assessed}^S^a^m^e^as^H^.^R^.^{3121. (S}^{ec. 117)}
^Coⁿ^d^o^mⁱⁿ^iu^m^Owⁿ^e^rs^ag^ain^s^{t in}^divⁱ^du^{al con}^d^o^mⁱⁿ^iu^m^owⁿ^e^rs^w^h^{ere th}^e
^coⁿ^d^o^mⁱⁿ^iu^m^asso^ciatioⁿ^{is u}ⁿ^d^erin^su^red^.^{(Sec. 3}⁰⁾
^Ex^t^eⁿ^sⁱ^oⁿ^of^Pi^l^o^t^Prog^ram^W^o^u^l^d^a^u^t^h^o^rⁱ^z^e^aⁿ^e^x^t^e^nsi^oⁿ^o^f^t^h^e^pⁱ^l^o^t^p^r^o^g^r^a^m^f^o^r^S^am^{e as}^H^.^R^.^{3121. (S}^{ec. 30)}

^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^f^o^{r Mitig}^atioⁿ^o^f^Sev^e^re^m^itig^ation^of^s^e^v^e^{re repetitiv}^{e los}^s^prope^r^tⁱ^e^s^f^r^om^FY2008
^Rep^e^titiv^{e L}^o^{ss P}^r^o^p^e^rties^t^h^r^o^ugh^{2012. (S}^{ec. 17)}
^A^u^th^o^r^ity^o^f^FEMA^to^No^sim^{ilar p}^r^o^v^isioⁿ^.^W^o^u^l^d^au^th^o^r^ize^th^e^FEMA^A^d^mⁱⁿⁱ^strato^{r to}^co^{llect f}^r^o^m^W^Y^O
^Co^{llect In}^f^o^rm^atioⁿ^oⁿⁱⁿ^su^rer^s^aⁿ^yⁱⁿ^f^o^rm^atioⁿ^an^d^d^a^{ta n}^eed^ed^to^d^e^termⁱⁿ^{e th}^e
^C^l^aim^s^P^a^y^m^en^ts^accu^racy^of^f^l^{ood claim}^s^res^o^lu^tion^.^T^h^{e ty}^{pe of}ⁱⁿ^f^o^r^m^a^tⁱ^o^{n to}
^{be col}^l^ect^{ed w}^o^u^l^{d i}ⁿ^cl^ud^e⁽¹^{) adj}^u^s^t^{er f}^l^{ood an}^{d w}ⁱⁿ^d^dam^a^g^e
^as^s^e^s^s^m^en^t^s^;^{(2) am}^ouⁿ^t^pai^d^f^o^{r w}ⁱⁿ^d^an^{d f}^l^{ood el}^em^en^t^s^of^t^h^e
^claim^;⁽³^{) to}^{tal am}^o^uⁿ^t^p^a^id^to^th^{e claim}^aⁿ^t^fr^o^m^a^l^l^p^a^{rties as a}
^resu^{lt o}^f^th^{e ev}^en^{t; (4}^{) am}^o^uⁿ^t^p^a^id^b^y^th^eⁱⁿ^su^rer^f^o^r^o^t^h^e^r^f^l^o^o^d
^lo^{sses; an}^d⁽⁵^{) to}^tal^am^o^uⁿ^t^p^a^id^to^th^{e p}^o^licy^h^o^l^d^e^{r b}^y^th^{e in}^su^rer
^f^o^{r al}^l^f^l^{ood. (S}^{ec. 128)}
^M^u^{ltiple Peril Co}^v^era^g^e^fo^{r Flo}^o^d^a^{nd Windsto}^rm^Lo^sses
^Mu^ltip^{eril Co}^v^e^rag^e^f^o^r^A^m^e^nds^S^ectⁱ^oⁿ^{1304 of}^t^h^{e N}^a^tⁱ^oⁿ^a^l^F^l^{ood In}^s^u^ran^{ce A}^c^t^of^No^sim^{ilar p}^r^o^v^isioⁿ^.

^F^l^{ood an}^{d Wi}ⁿ^d^s^t^orm^{1968 t}^o^en^abl^e^t^h^e^p^u^rch^a^s^e^of^optⁱ^oⁿ^a^lⁱⁿ^s^u^ran^{ce ag}^aiⁿ^s^t^bot^h
ⁱ^{ki/CRS-RL34367}^f^l^{ood an}^{d w}ⁱⁿ^d^s^t^orm^l^o^s^s^e^s^.^R^e^qu^ires^com^m^uⁿ^ities^th^at^partⁱ^cⁱ^p^at^{e i}ⁿ^t^h^{e N}^F^{IP t}^o^adopt^adequ^a^t^e^cri^t^e^ri^{a f}^o^{r l}^aⁿ^d
^g/w^m^a^na^ge^m^e^nt^aⁿ^d^use^.^W^o^ul^d^a^u^t^h^o^rⁱ^z^e^t^h^e^FE^M^A^A^d^mⁱⁿⁱ^st^r^a^t^o^r
^s^.or^to^stu^d^y^aⁿ^dⁱⁿ^v^e^stig^{ate to}^d^e^termⁱⁿ^{e ap}^p^r^o^p^r^{iate m}^easu^r^{es (e.g}^.,
^le^ak^l^a^w^s^,^reg^u^l^atⁱ^oⁿ^s^,^an^{d ordi}ⁿ^aⁿ^{ce rel}^a^tⁱⁿ^g⁾^t^h^at^cou^l^{d be}^adopt^edⁱⁿ
^://wiki^wⁱⁿ^d^s^t^orm^-^pron^{e areas}^w^ith^res^p^{ect t}^o^wⁱⁿ^d^s^t^orm^ris^k^s^,^zonⁱⁿ^g^buⁱ^l^dⁱⁿ^g^codes^,^buⁱ^l^dⁱⁿ^g^permⁱ^t^s^{, s}^u^bdi^vi^si^on^an^{d ot}^h^e^{r bu}ⁱ^l^dⁱⁿ^g
^h^ttp^res^t^riction^s^f^o^{r s}^u^ch^areas^{, an}^{d w}ⁱⁿ^d^s^t^orm^dam^a^g^e^prev^en^tion^.^T^h^e
^Ad^mⁱⁿⁱ^strato^{r w}^o^u^l^d^b^e^req^u^ired^to^u^s^{e th}^{e stu}^d^y^resu^l^t^s^t^o
^es^tablis^h^com^p^reh^eⁿ^s^iv^{e criteria des}ⁱ^gⁿ^e^{d to redu}^{ce dam}^a^g^e^s
^cau^s^e^{d by}^wⁱⁿ^d^s^t^orm^s^{. Es}^t^a^blⁱ^s^he^{s l}ⁱ^mⁱ^t^s^on^t^h^{e am}^ouⁿ^t^of
^cov^e^rag^e^{to n}^o^{t ex}^{ceed th}^{e les}^s^e^{r of}^th^{e replacem}^en^{t c}^o^s^t^f^o^r
^cov^e^{red los}^s^e^s^{or $500,000}^f^o^r^sⁱⁿ^g^l^e-^f^a^m^ily^dw^ellin^g^,^$1,000,000
^f^o^{r n}^oⁿ^-^resⁱ^den^tⁱ^a^l^s^t^ru^ct^u^r^{e an}^{d $750,000 f}^o^{r con}^t^en^t^s^{. (S}^{ec. 7)}
^W^o^u^l^d^a^l^l^o^w^m^u^{ltiple peril an}^{d f}^l^{ood in}^s^u^ran^{ce cov}^e^rag^e^of
^m^u^ltip^{le d}^w^ellin^g^resi^d^eⁿ^t^{ial stru}^ctu^r^{es u}^p^to^th^{e to}^{tal n}^u^m^b^e^{r o}^f
^d^w^ellin^g^uⁿ^{its tim}^{es th}^{e m}^a^xⁱ^m^u^m^co^v^e^rag^e^lim^it^p^e^r^r^e^sid^eⁿ^tial
^uⁿ^{it (Sec. 7(a)(7)(A}^{)). P}^r^oh^ibits^{a W}^YO^com^p^an^y^f^r^omⁱⁿ^clu^dⁱⁿ^g
^l^a^ngua^geⁱⁿⁱ^t^s^o^w^{n ho}^m^e^o^w^ne^r^s^{’ a}ⁿ^d^wⁱ^nd^st^o^r^m^p^o^lⁱ^cⁱ^e^{s t}^h^a^t
^w^o^u^l^{d ex}^clu^d^{e cov}^e^rag^e^of^wⁱⁿ^d^dam^a^g^e^s^o^lely^becau^s^e^f^l^oodin^g
^als^o^con^t^ribu^{ted to th}^{e dam}^a^g^e^{. (Sec. 35)}
^W^o^u^l^{d requ}^{ire th}^{at th}^{e con}^t^{ract betw}^een^th^e^W^YO^an^d^th^e^NFIP
^{state th}^{at th}^{e i}ⁿ^s^u^r^e^r^h^a^{s a f}ⁱ^d^u^ciary^resp^oⁿ^sib^ility^to^f^e^d^e^ral
^tax^p^ay^{ers an}^d^w^{ill act in}^th^{e b}^e^{st in}^{terests o}^f^th^{e NFIP}^{. (Sec. 3}⁵⁾

^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^F^l^o^o^d^M^a^pping
^N^a^tⁱ^oⁿ^a^l^F^l^{ood Mappi}ⁿ^g^W^o^u^l^d^req^u^{ire th}^{e A}^d^mⁱⁿⁱ^strato^{r in}^coⁿ^s^u^ltatioⁿ^w^ith^th^e^Wou^l^{d requ}ⁱ^r^{e F}^E^MA^t^o^es^t^a^blⁱ^s^h^an^on^g^oⁱⁿ^g^f^l^{ood m}^a^ppiⁿ^g
^Pr^og^r^a^m^T^e^c^hni^c^a^l^M^a^p^pⁱ^ng^A^d^vi^so^r^y^Co^uncⁱ^l^t^o^e^s^t^a^b^lⁱ^s^{h a}ⁿ^o^ngoⁱⁿ^g^prog^ram^t^o^revⁱ^e^w^,^up^dat^e^an^{d m}^aⁱⁿ^t^aⁱⁿ^f^l^{ood i}ⁿ^s^u^ran^{ce rat}^e
^prog^ram^t^o^revⁱ^ew^{, u}^pdat^e^{, an}^{d m}^aⁱⁿ^t^aⁱⁿ^f^l^{ood i}ⁿ^su^ran^{ce rat}^e^m^a^ps^{, i}ⁿ^cl^u^dⁱⁿ^g^al^l^f^l^ood-^ri^s^k^zon^e^areas^wⁱ^t^hⁱⁿ^t^h^{e 100-}^y^{ear an}^d
^m^a^ps^{. Each}^m^a^{p s}^h^al^lⁱⁿ^cl^u^d^{e a depi}^ctⁱ^oⁿ^of^t^h^{e 500-}^y^e^a^r^500-^y^{ear f}^l^oodpl^aiⁿ^s^an^{d areas}^of^resⁱ^du^al^ri^sk^{, i}ⁿ^cl^u^dⁱⁿ^g^t^h^os^e
^f^l^oodpl^aiⁿ^,^as^w^e^l^l^a^s^“^r^esⁱ^d^u^a^l^ri^s^k^{” areas}^behⁱⁿ^d^l^e^v^ees^an^d^prot^ect^{ed by}^l^e^v^ees^{, dam}^s^{, an}^{d ot}^h^e^{r m}^aⁿ^-^m^a^{de s}^t^ru^ct^u^r^es^.
^f^l^{ood con}^t^rol^dam^s^{. U}^pda^t^e^d^f^l^{ood m}^a^ps^w^o^u^l^{d i}ⁿ^cl^u^d^e^(S^{ec. 119)}
^r^e^l^e^va^ntⁱⁿ^fo^r^m^a^tⁱ^o^{n o}ⁿ^c^o^a^s^t^a^lⁱ^nund^a^tⁱ^o^{n p}^r^o^vⁱ^d^e^d^b^y^t^h^e
^A^r^m^y^C^o^rps^of^E^ngiⁿ^eers^,^s^t^orm^s^u^rg^{e m}^odelⁱⁿ^g^by^t^h^e^A^d^mⁱⁿⁱ^s^t^rat^o^{r w}^o^u^l^{d be au}^t^h^ori^{zed t}^o^es^t^a^blⁱ^s^h^{or u}^pdat^e^f^l^ood-
^Nation^a^{l Ocean}^{ic an}^{d A}^t^m^o^s^p^h^e^{ric A}^d^mⁱⁿⁱ^s^t^ration^(NOA^A⁾^,^ris^k^zon^e^{data in}^resⁱ^du^al^rⁱ^s^k^areas^an^{d m}^a^k^e^es^tim^ates^of
^an^{d s}^t^ream^f^l^ow^s^,^w^a^ters^h^e^{d ch}^aracteris^tics^,^an^d^t^o^p^o^g^r^aph^y^probabl^{e f}^l^{ood cau}^s^e^{d l}^o^s^s^e^s^f^o^{r t}^h^e^va^rⁱ^o^u^s^f^l^{ood ri}^s^k^zon^e^s^.
^provⁱ^d^{ed by}^t^h^{e U}^.^S^.^G^e^ol^ogⁱ^cal^S^u^rv^ey^(U^S^G^S⁾^{. Wou}^l^d^(S^{ec. 119)}
^r^e^q^uⁱ^r^{e t}^h^atⁿ^o^ch^an^g^e^sⁱⁿ^f^l^{ood i}ⁿ^s^u^ran^{ce s}^t^at^u^s^can^g^oⁱⁿ^t^o
^ef^f^{ect u}ⁿ^{til th}^{e rem}^a^p^pⁱⁿ^g^p^r^o^c^e^s^sⁱ^s^co^m^p^leted^f^o^{r th}^{e en}^tire
^A^r^m^y^C^o^{rp of}^En^gⁱⁿ^eers^dis^t^{rict af}^f^{ected by}^th^{e m}^a^p.
ⁱ^{ki/CRS-RL34367}^{(Sec. 22(a))}
^g/w^W^o^u^l^d^req^u^{ire th}^{e A}^d^mⁱⁿⁱ^strato^{r to}^:⁽¹⁾^estab^lish^stan^d^a^rd^{s to}^FEMA^w^o^u^l^d^be^requ^{ired to u}^s^{e th}^{e m}^o^s^t^accu^{rate an}^{d con}^s^is^ten^t
^s^.or^en^s^u^{re th}^{e adequ}^acy^an^{d con}^s^is^ten^c^y^of^m^a^ps^an^{d m}^e^th^ods^of^dat^aⁱⁿ^m^a^ppiⁿ^g^prog^ram^.^(S^{ec. 122)}
^le^ak^d^a^{ta co}^llectioⁿ^an^d^an^aly^s^{is; (2}^{) g}ⁱ^v^e^p^r^io^rity^to^u^p^d^a^tin^g^an^d
^m^aⁱⁿ^tainⁱⁿ^g^m^a^ps^of^coas^{tal areas}^af^f^{ected by}^Hu^rrican^es
^://wiki^Katrin^{a an}^d^{Rita in}^o^r^d^e^{r to}^p^r^o^v^id^{e g}^uⁱ^d^aⁿ^c^{e w}^ith^resp^{ect to}
^h^ttp^h^u^rrican^{e recov}^e^ry^ef^f^o^rts^;^an^{d (3) s}^u^bm^{it a report to C}^oⁿ^g^r^es^s
^th^{at des}^c^ribes^th^{e f}^l^ood^m^a^p^m^odern^ization^activ^ities^by^J^uⁿ^e
^{30 of}^each^y^ear.
^W^o^u^l^d^r^e^q^u^{ire FEMA}^{, w}^h^en^p^r^{actical, to}^u^{tilize em}^ergⁱⁿ^g^Wou^l^{d requ}ⁱ^r^{e t}^h^{e v}^a^ri^ou^s^f^e^deral^depart^m^eⁿ^t^s^t^o^w^o^rk^t^o^g^e^t^h^er
^w^eath^e^{r f}^o^recas^tin^g^techⁿ^o^logⁱ^es^{, an}^{d con}^s^{ider th}^{e im}^pacts^of^t^o^coordiⁿ^a^t^e^m^a^ppiⁿ^g^an^{d ri}^s^k^det^e^rmⁱⁿ^atⁱ^oⁿ^b^udg^etⁱⁿ^g^,^an^d
^g^l^o^b^a^{l w}^a^rmⁱⁿ^g^an^d^th^{e p}^o^t^en^{tial f}^u^tu^{re im}^p^{acts o}^f^g^l^o^b^a^l^req^uⁱ^r^e^s^th^{e Of}^fⁱ^{ce of}^Man^a^g^e^m^eⁿ^t^an^{d B}^u^dg^{et (OMB}^{), FEMA}
^clⁱ^m^at^{e ch}^an^g^e^-^r^el^at^{ed w}^eat^h^e^{r ev}^en^t^s^{, i}ⁿ^as^s^e^s^sⁱⁿ^g^f^l^{ood an}^d^an^d^o^t^h^e^{r f}^e^d^e^{ral ag}^en^{cies to}^su^b^m^{it a j}^oⁱⁿ^{t rep}^o^r^{t to}^Coⁿ^g^r^es^s
^sto^r^m^rⁱ^sks.^w^ithⁱⁿ³⁰^d^a^y^s^o^f^th^{e b}^u^d^g^{et su}^b^m^is^sⁱ^oⁿ^oⁿ^th^{e cro}^sscu^ttin^g
^bu^dg^etⁱ^s^s^u^es^wⁱ^t^h^res^p^ect^t^o^m^a^ppiⁿ^g^.^(S^{ec. 121(a))}
^A^f^{ter each}^f^l^{ood m}^a^{p is}^u^pdated,^F^E^MA^s^h^{all, in}^con^s^u^ltation^S^a^m^e^as^H^.^R^.^{3121. (S}^{ec. 119(d)(2))}
^w^ith^th^{e ch}^ief^ex^ecu^tiv^{e of}^fⁱ^{cer of}^each^com^m^uⁿ^ity^affe^c^t^e^d^,
^con^d^u^c^{t a prog}^ram^{to ed}^{ucate th}^{e com}^m^uⁿ^ity^abou^{t th}^e
^u^pdat^e^{d f}^l^{ood i}ⁿ^s^u^ran^{ce m}^a^ps^.
^W^o^u^l^{d au}^th^{orize th}^{e appropriation}^of^$400^m^illion^f^o^r^each^of^S^a^m^e^as^H^.^R^.^{3121. (S}^{ec. 119)}

^fⁱ^s^cal^y^ears^{2008 t}^h^ro^ugh^{2013. (S}^{ec. 22)}

^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^F^l^oodpl^aiⁿ^m^aⁿ^a^g^e^m^eⁿ^t^No^sim^{ilar p}^r^o^v^isioⁿ^.^W^o^u^l^d^req^u^{ire th}^e^Secretary^o^f^Dep^a^rtm^eⁿ^t^o^f^Ho^m^e^lan^d^Secu^rity^,
^C^oordiⁿ^a^tⁱ^oⁿ^th^{e A}^d^mⁱⁿⁱ^s^t^{rator of}^FEMA^{, th}^{e Director of}^th^{e Of}^fⁱ^c^e^o^f
^Man^a^g^e^m^eⁿ^t^an^{d B}^u^dg^{et (OMB}^{), an}^{d t}^h^e^heads^of^each^f^e^deral
^depart^m^eⁿ^t^{or ag}^en^cy^t^o^w^o^rk^t^o^g^e^t^h^{er t}^o^en^s^u^{re t}^h^at^f^l^{ood ri}^s^k
^d^e^termⁱⁿ^atioⁿ^d^a^{ta an}^d^g^e^o^s^p^a^{tial d}^a^{ta are sh}^ared^am^oⁿ^g^all
^f^e^d^e^{ral ag}^en^{cies in}^o^r^d^e^{r to}^co^o^r^dⁱⁿ^a^{te th}^{e ef}^f^o^{rts o}^f^th^eⁿ^a^tioⁿ^to
^redu^{ce its}^v^u^lⁿ^e^rability^{to f}^l^{ood h}^azards^{. (Sec. 121(a))}
^T^h^{e Directo}^r^o^f^O^M^B^,ⁱⁿ^co^o^r^dⁱⁿ^a^tioⁿ^w^ith^FEMA^{, USGS,}
^NOA^A^,^USA^C^{E an}^{d oth}^e^{r f}^e^{deral ag}^en^cies^{, m}^u^s^t^s^u^bm^{it to}
^Coⁿ^g^r^{ess, w}^ithⁱⁿ³⁰^d^a^y^s^o^f^su^b^m^ittin^g^th^{e b}^u^d^g^{et o}^f^th^e^Un^ited
^S^t^at^es^{, an}ⁱⁿ^t^e^rag^eⁿ^c^y^bu^dg^et^cros^s^c^u^t^report^s^h^owⁱⁿ^g^t^h^{e bu}^dg^et
^propos^{ed f}^o^{r each}^of^th^{e f}^e^{deral ag}^en^cies^w^o^rkⁱⁿ^g^on^f^l^{ood ris}^k
^d^e^termⁱⁿ^atioⁿ^d^a^{ta an}^d^dⁱ^g^{ital elev}^atioⁿ^m^o^d^e^ls.
^S^{ec. 121(a))}
ⁱ^{ki/CRS-RL34367}^Rem^o^v^a^{l o}^f^Lⁱ^m^itatioⁿ^oⁿ^No^sim^ilar^p^r^o^v^isioⁿ^.^W^o^u^l^d^rem^o^v^e^th^{e cu}^rren^t^p^r^o^h^ib^itioⁿ^th^{at p}^r^ev^eⁿ^t^s^s^t^a^t^e^s^fr^o^m
^g/w^{State C}^oⁿ^t^ribu^tion^s^f^o^r^con^t^ribu^tin^g^g^r^{eater th}^an^{50% of}^th^{e cos}^t^of^revⁱ^sⁱⁿ^g^an^{d u}^pdatin^g
^s^.or^U^pdatⁱⁿ^g^F^l^{ood Maps}^m^a^{p m}^odernⁱ^zatⁱ^oⁿ^.^(S^{ec. 120)}
^le^ak
^Noⁿ^m^an^d^a^to^ry^Wou^l^{d au}^t^h^ori^{ze F}^E^MA^t^oⁱⁿ^cl^u^d^{e a n}^o^t^e^on^f^l^{ood i}ⁿ^s^u^ran^c^e^W^o^u^l^d^req^u^{ire th}^{e FEMA}^A^d^mⁱⁿⁱ^strato^{r to}^p^r^o^v^id^eⁿ^o^tice^to^an^y
^://wiki^Partⁱ^cⁱ^p^atⁱ^oⁿⁱⁿ^t^h^{e 500-}^rat^e^m^a^psⁱ^d^en^tⁱ^f^yⁱⁿ^g^100-^y^{ear an}^d^500-^y^{ear cert}ⁱ^fⁱ^e^{d l}^e^v^ees^com^m^uⁿⁱ^t^y^l^o^cat^{ed i}ⁿ^t^h^{e 500-}^y^{ear f}^l^o^odpl^aⁱⁿ^wⁱ^t^hⁱⁿ^sⁱ^x^m^oⁿ^t^h^s
^h^ttp^Y^{ear F}^l^oodpl^aiⁿ^A^r^eas^an^{d en}^co^ur^ag^{e property}^owⁿ^e^rs^{to ev}^alu^a^{te th}^{eir ris}^k^of^f^l^oodiⁿ^g^.^W^o^ul^{d cl}^ari^f^y^t^h^at^t^h^{e n}^o^t^e^s^h^al^lⁿ^o^t^{be con}^sⁱ^d^ered^af^{ter th}^{e date of}^com^p^letion^of^th^{e in}^{itial m}^a^ppin^g^of^th^e^500-^y^ear^floodplain^.^R^e^g^u^l^atory^len^dⁱⁿ^gⁱⁿ^s^titu^tion^s^{, as}^{a con}^d^itⁱ^oⁿ^o^f
^{a leg}^a^{l req}^u^irem^en^{t o}^f^p^a^rticip^atioⁿⁱⁿ^th^{e NFIP}^.^m^a^kⁱⁿ^g^loan^s^s^ecu^{red by}^property^{located w}^ithⁱⁿ^th^{e 500}^-^y^ear
^{(Sec. 36)}^f^l^oodpl^aiⁿ^,^w^o^u^l^{d be requ}ⁱ^r^{ed t}^oⁿ^o^tⁱ^f^y^t^h^{e pu}^rch^a^s^e^{r or}^l^e^s^s^{ee an}^d
^t^h^{e s}^e^rvⁱ^{cer of}^t^h^{e l}^o^an^t^h^at^s^u^ch^propertⁱ^e^sⁱ^s^wⁱ^t^hⁱⁿ^t^h^{e 500-}^y^ear
^f^l^oodplain^.^{Federal an}^{d s}^t^ate^len^d^ers^w^o^u^l^d^be^s^u^bj^{ect to pen}^a^lties
^f^o^{r n}^oⁿ^c^om^plⁱ^aⁿ^{ce. (S}^{ec. 123)}
^Wou^l^{d ex}^em^pt^proper^t^y^wⁱ^t^hⁱⁿ^t^h^{e 500-}^y^{ear f}^l^oodpl^aiⁿ^f^r^om^t^h^e
^m^aⁿ^d^at^ory^pu^rch^a^s^e^requⁱ^r^em^en^t^.^T^h^{e N}^F^{IP an}^{d f}^e^deral^{or s}^t^at^e
^len^dⁱⁿ^gⁱⁿ^stitu^tioⁿ^s^m^u^{st n}^o^tif^y^co^m^m^uⁿ^ities^th^at^th^ey^{are lo}^cated
^wⁱ^t^hⁱⁿ^t^h^{e 500-}^y^e^a^r^f^l^oodpl^aiⁿ⁽ⁱ^{.e., an}^{area w}ⁱ^t^h^at^l^eas^t^{a 0.2%}
^c^h^aⁿ^c^e^o^f^b^eⁱ^{ng i}^nund^a^t^e^d^wⁱ^t^h^w^a^t^e^rⁱⁿ^aⁿ^y^y^e^a^r⁾^.^[^O^wⁿ^e^r^{s o}^f
^propertⁱ^e^s^wⁱ^t^hⁱⁿ^t^h^e^500-^y^{ear f}^l^oodpl^aiⁿ^,^bu^t^ou^t^sⁱ^d^{e of}^t^h^{e 100-}
^y^{ear fl}^oodpl^aiⁿ^,^w^o^u^l^{d n}^o^t^{be s}^u^bj^ect^t^o^m^aⁿ^d^at^ory^pu^rch^a^s^e
^requⁱ^r^em^en^t^s^bu^t^mⁱ^g^h^t^v^o^l^uⁿ^t^ari^l^y^pu^rch^a^s^e^f^l^{ood i}ⁿ^s^u^ran^{ce u}^pon
^receivⁱⁿ^gⁿ^o^tif^ication^of^poten^{tial ris}^k^{. ] (S}^{ec. 123)}

^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^T^echⁿⁱ^{cal Mappin}^g^W^o^ul^d^r^e^e^s^t^a^b^lⁱ^s^h^t^h^e^T^e^c^hni^c^a^l^M^a^p^pⁱ^{ng A}^d^vi^so^r^y^Co^uncⁱ^l^,^Sim^{ilar to H.R}^.^{3121, bu}^{t als}^o^w^o^u^l^{d add tw}^{o addition}^a^{l m}^e^m^b^ers
^A^d^vi^so^r^y^Co^uncⁱ^l^an^d^estab^lish^term^{s o}^f^o^f^fⁱ^{ce, to}^p^r^o^v^id^{e d}ⁱ^rectioⁿ^an^d^{to th}^e^A^d^vⁱ^s^o^ry^C^o^uⁿ^c^{il, on}^{e repres}^en^tin^g^{a s}^t^{ate ag}^en^cy^th^{at h}^a^s
^as^sⁱ^s^t^an^{ce to th}^{e A}^d^mⁱⁿⁱ^s^t^{rator of}^FEMA^con^cernⁱⁿ^g^f^l^ood^en^t^e^r^e^dⁱⁿ^t^o^{a cooperat}ⁱ^v^{e t}^echⁿⁱ^cal^partⁿ^e^rs^hⁱ^{p w}ⁱ^t^h^t^h^e
^m^a^p^pⁱⁿ^g^activ^{ities. T}^h^{e Co}^uⁿ^c^{il w}^o^u^l^dⁱⁿ^clu^d^e,^am^oⁿ^g^o^t^h^e^rs,^A^d^mⁱⁿⁱ^strato^{r an}^d^h^a^s^d^e^m^oⁿ^s^trated^th^{e cap}^ab^ility^to^p^r^o^d^u^ce
^repres^en^tativ^es^f^r^om^th^{e U.S. A}^r^m^y^C^o^rps^of^En^gⁱⁿ^eers^,^local^FIR^M^s^an^{d th}^{e oth}^e^{r a local g}^o^v^e^rn^m^eⁿ^t^{al ag}^en^cy^th^{at h}^a^s^don^e
^an^{d reg}ⁱ^on^al^f^l^{ood an}^{d s}^t^orm^w^a^t^e^{r ag}^en^ci^es^{, s}^t^at^{e g}^e^og^raphⁱ^c^th^{e sam}^e^.
ⁱⁿ^f^o^rm^atⁱ^on^c^o^ordiⁿ^a^t^o^rs^{, an}^{d f}^l^{ood i}ⁿ^s^u^ran^{ce s}^e^rvⁱ^cⁱⁿ^g^(S^{ec. 118(b))}
^com^p^an^ies^.^{(Sec. 22(b))}
^P^o^st-^D^{isaster Flo}^o^d^W^o^u^l^d^allo^w^th^{e A}^d^mⁱⁿⁱ^strato^{r o}^f^FEMA^to^issu^{e in}^terim^No^sim^{ilar p}^r^o^v^isioⁿ^.
^Elev^atioⁿ^Determⁱⁿ^atioⁿ^s^f^l^{ood el}^ev^atⁱ^oⁿ^requⁱ^r^em^en^t^s^f^o^r^aⁿ^y^areas^af^f^ect^{ed by}^f^l^ood-
^related^dⁱ^{saster. In}^terim^elev^atioⁿ^d^e^termⁱⁿ^atioⁿ^s^w^o^u^l^d^tak^e
^ef^f^{ect im}^m^e^diately^u^pon^is^s^u^an^{ce an}^{d m}^a^y^rem^aⁱⁿⁱⁿ^e^f^f^ect
^uⁿ^{til FEMA}^es^tablis^h^e^{d n}^e^w^f^l^{ood elev}^ation^s^f^o^{r s}^u^ch^area.
^{(Sec. 22(c))}
ⁱ^{ki/CRS-RL34367}^Co^m^m^uⁿ^{ities m}^a^y^req^u^{est u}^p^d^a^t^e^{s af}^{ter rep}^a^{irs to}^f^l^o^o^d
^g/w^proj^ects^,^{at n}^o^cos^t^{. (Sec. 22(d))}
^s^.or
^le^ak^B^u^ildⁱⁿ^g^Co^d^e^{s in}^W^o^u^l^d^au^th^o^r^{ize FEMA}^to^su^b^m^it^{a rep}^o^r^{t to}^Coⁿ^g^r^{ess o}ⁿ^th^e^{See sectio}ⁿ^b^e^lo^w^en^titled^,^“^F^EMA^Rep^o^r^{t o}ⁿ^B^u^ildⁱⁿ^g^Co^d^e^s.”
^F^l^oodpl^aiⁿ^Man^a^g^e^m^eⁿ^t^reg^u^l^atory^,^fⁱⁿ^aⁿ^c^{ial an}^{d econ}^o^mⁱ^{c im}^pa^c^t^s^ofⁱⁿ^clu^dⁱⁿ^g^(S^{ec. 135)}
^://wiki^Criteriaⁿ^a^tⁱ^oⁿ^a^l^l^y^recogⁿⁱ^{zed bu}ⁱ^l^dⁱⁿ^g^codes^as^part^of^t^h^{e f}^l^oodpl^aiⁿ
^h^ttp^m^aⁿ^a^g^e^m^eⁿ^t^{criteria of}^th^{e NFIP}^{. (Sec. 28)}
^Iⁿ^t^e^r^a^ge^nc^y^Co^o^r^dⁱ^na^tⁱ^oⁿ^No^sim^ilar^p^r^o^v^isioⁿ^.^W^o^u^l^d^req^u^{ire FEMA}^to^c^oⁿ^t^r^{act w}^ith^th^{e Natio}ⁿ^a^l^A^cad^em^y^o^f
^Stud^y^P^u^b^lⁱ^c^A^d^mⁱⁿⁱ^st^r^a^tⁱ^o^{n t}^o^c^o^nd^uc^t^a^st^ud^y^oⁿ^ho^w^FE^M^A^c^aⁿ
ⁱ^m^prov^eⁱⁿ^t^e^rag^eⁿ^c^y^an^{d i}ⁿ^t^e^rg^ov^ern^m^en^t^a^l^coordiⁿ^a^tⁱ^oⁿ^on^f^l^ood
^m^a^p^pⁱ^{ng a}ⁿ^d^fundⁱ^ng,^aⁿ^d^ho^w^FE^M^A^c^aⁿ^e^s^t^a^b^lⁱ^s^h^j^oⁱⁿ^t^fundⁱⁿ^g
^m^ech^an^is^m^s^w^ith^oth^e^{r f}^e^{deral ag}^en^cies^an^{d u}ⁿ^its^of^s^t^{ate a}ⁿ^d
^{local g}^o^v^e^rn^m^eⁿ^t^s^{to s}^h^{are th}^{e c}^o^l^l^e^c^tⁱ^oⁿ^an^{d u}^s^{e of}^{data f}^o^r
^m^a^ppiⁿ^g^.
^(S^{ec. 122)}
^T^e^stⁱ^{ng o}^f^N^e^w^No^sim^ilar^p^r^o^v^isioⁿ^.^W^o^u^l^d^a^u^t^h^o^rⁱ^{ze th}^{e b}^u^ildⁱⁿ^g^o^f^tem^p^o^r^ary^resid^eⁿ^tial^stru^ctu^r^es
^F^l^oodproofⁱⁿ^g^fo^r^t^h^{e pu}^rpos^{e of}^t^e^s^tⁱⁿ^gⁿ^e^w^f^l^oodproofⁱⁿ^g^t^echⁿ^o^l^o^gⁱ^es^{. T}^hⁱ^s
^T^e^c^hno^l^o^gi^e^s^actⁱ^vⁱ^t^y^w^o^u^l^{d n}^o^t^{be con}^sⁱ^d^e^r^e^dⁱⁿ^vⁱ^ol^atⁱ^oⁿ^of^an^y^f^l^{ood ri}^s^k
^m^itig^atioⁿ^p^l^an^d^e^v^e^lo^p^e^d^b^y^{a state o}^r^co^m^m^uⁿ^ity^an^d^ap^p^r^o^v^ed
^by^t^h^{e A}^d^mⁱⁿⁱ^s^t^rat^o^{r of}^F^E^MA^{. (S}^{ec. 125)}

^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^No^tif^icatioⁿ^o^f^A^p^p^{eal o}^f^W^o^u^l^d^req^u^{ire FEMA}^A^d^mⁱⁿⁱ^strato^r^t^oⁿ^o^tif^y^th^{e ch}^ief^No^sim^{ilar p}^r^o^v^isioⁿ^.
^M^a^p^Cha^nge^{s a}ⁿ^d^ex^ecu^tiv^{e o}^f^fⁱ^{cer o}^f^l^o^c^a^{l co}^m^m^uⁿ^{ities ab}^o^u^{t th}^{eir rig}^h^t^to
^No^tif^icatioⁿ^o^f^appeal^proj^ect^{ed bas}^e^f^l^{ood el}^ev^atⁱ^oⁿ^det^e^rmⁱⁿ^atⁱ^oⁿ^s^{, an}^{d t}^h^e
^Estab^lish^m^en^{t o}^f^Flo^o^d^con^t^{act in}^f^o^rm^ation^of^th^{e pers}^on^w^h^{o h}^aⁿ^d^les^appeals^at
^Elev^ation^s^F^E^MA^{. T}^h^{e A}^d^mⁱⁿⁱ^s^t^rat^o^{r w}^o^u^l^d^al^s^o^{be requ}ⁱ^r^{ed t}^o^pu^blⁱ^s^h
^aⁿ^o^{tice in}^th^e^Feder^a^{l Regis}^t^er^an^d^l^o^calⁿ^e^w^s^papers^of^s^u^ch
^ch^an^g^e^an^d^p^r^o^v^id^{e w}^r^ittenⁿ^o^tif^icatioⁿ^b^y^fⁱ^r^s^{t class m}^a^{il to}
^each^property^af^fe^c^t^e^d^by^{a propos}^{ed ch}^an^g^eⁱⁿ^f^l^ood
^elev^atioⁿ^,^p^r^io^{r to}^th^{e 9}⁰^-^d^a^y^a^p^p^{eal p}^e^rio^d^.^No^tif^icatioⁿ
^w^o^u^l^dⁱⁿ^clu^d^{e an}^ex^plan^ation^of^th^{e appeals}^proces^s^,^th^{e s}^t^atu^s
^of^each^property^w^ith^res^p^{ect to f}^l^{ood zon}^e^an^{d f}^l^ood
ⁱⁿ^s^u^ran^ce^requ^irem^en^ts^uⁿ^d^{er th}^{e act, an}^{d con}^t^actⁱⁿ^f^o^rm^ation
^f^o^{r res}^pon^sⁱ^{ble of}^fⁱ^cials^.^{(Sec. 23)}
^C^oordiⁿ^a^tⁱ^oⁿ^of^F^l^ood^N^o^sⁱ^mⁱ^l^a^{r prov}ⁱ^sⁱ^oⁿ^.^W^o^ul^d^r^e^q^uⁱ^r^e^t^h^e^l^e^a^d^e^r^s^hⁱ^p^of^D^H^S^,^O^M^B^an^{d ot}^h^e^{r f}^e^deral
^Risk^Determⁱⁿ^atioⁿ^Data^ag^en^ci^es^t^o^w^o^rk^t^o^g^e^t^h^{er t}^o^en^s^u^re^t^h^at^f^l^ood^ri^s^k^det^e^rmⁱⁿ^atⁱ^oⁿ
ⁱ^{ki/CRS-RL34367}^Sh^arin^g^an^{d B}^u^dg^etin^g^dat^a^an^{d g}^e^os^patⁱ^a^l^dat^a^{are appropri}^a^t^e^l^y^sh^{ared am}^on^g^f^e^deral
^g/w^E^ffo^r^t^s^ag^en^ciesⁱⁿ^{order to coordin}^a^{te th}^{e ef}^fo^r^t^of^th^{e n}^a^tion^{to redu}^ce
^s^.or^its^v^u^lⁿ^e^rability^{to f}^l^oodin^g^h^azards^.^W^o^u^l^{d requ}^{ire th}^{e Director}
^le^ak^o^f^OMB^,ⁱⁿ^coⁿ^s^u^l^t^a^tⁱ^oⁿ^w^ith^FEMA^{, USGS, NOA}^A^,^an^d^th^e
^A^r^m^y^Co^r^p^o^f^E^ngi^ne^e^r^s,^t^o^sub^mⁱ^t^aⁿⁱⁿ^t^e^r^a^ge^nc^{y b}^u^d^g^e^t
^://wiki^cros^s^c^u^t^{report th}^{at dis}^p^lay^s^th^{e bu}^dg^{et propos}^{ed f}^o^{r each}^of^th^e
^h^ttp^f^e^deral^ageⁿ^ci^es^w^o^rkⁱⁿ^g^on^f^l^{ood ri}^s^k^det^e^rmⁱⁿ^atⁱ^oⁿ^dat^a^an^d
^di^gⁱ^t^a^l^el^ev^atⁱ^oⁿ^m^odel^s^{. (S}^{ec. 121)}
^Flood^In^s^u^ran^ce^A^d^v^o^cate^W^ou^{ld au}^th^orize^th^{e creation}^of^th^{e pos}^ition^of^Nation^a^l^Flood^Wou^l^d^es^t^a^blⁱ^s^h^an^O^f^fⁱ^{ce of}^t^h^{e F}^l^{ood In}^s^u^ran^ce^A^d^v^o^cat^e^wⁱ^t^h
^In^s^u^ran^{ce A}^d^v^o^{cate in}^FEMA^{, w}^h^{o w}^o^u^l^{d report to FEMA}^th^{e pow}^{er to as}^sⁱ^s^t^claim^aⁿ^t^s^w^ith^NFIP^claim^s^{, in}^clu^dⁱⁿ^g
^A^d^mⁱⁿⁱ^s^t^{rator. T}^h^{e n}^a^tio^na^l^adv^o^{cate w}^o^u^l^{d tran}^s^m^{it a}ⁱⁿ^terv^en^tionⁱⁿ^s^p^ecifⁱ^{c claim}^s^{; iden}^tif^y^ch^an^g^e^s^th^at^cou^l^{d res}^o^lv^e
^com^p^reh^eⁿ^sⁱ^v^{e report}^t^o^C^oⁿ^g^r^es^s^abou^t^t^h^{e m}^a^j^o^{r probl}^em^s^probl^em^s^cl^ai^m^aⁿ^t^s^ex^peri^eⁿ^c^e^wⁱ^t^h^f^l^{ood cl}^ai^m^s^;^au^di^t^an^d
^f^aciⁿ^g^t^h^{e N}^F^{IP an}^{d report}^t^o^C^oⁿ^g^r^es^s^{6 m}^o^nt^hs^a^f^t^e^rⁱⁿ^v^e^s^tⁱ^g^at^{e i}ⁿ^s^u^rers^t^o^en^s^u^{re t}^h^at^on^l^y^f^l^{ood l}^o^s^s^e^s^are^a^l^l^o^cat^ed
^en^actm^eⁿ^t^abou^{t th}^{e f}^eas^ibil^ity^an^{d ef}^f^ectiv^en^es^s^of^to^NFIP^p^o^{licies; in}^v^e^stig^{ate in}^su^{rers to}^en^su^{re th}^ey^{are settli}ⁿ^g
^es^tablis^hⁱⁿ^g^an^Of^fⁱ^{ce of}^th^{e Floo}^d^Iⁿ^s^u^ran^{ce A}^d^v^o^cate,^f^l^{ood cl}^ai^m^sⁱⁿ^g^{ood f}^aⁱ^t^h^;^con^d^u^c^tⁱⁿ^v^e^s^tⁱ^g^atⁱ^oⁿ^s^rel^a^tⁱ^ng^t^h^e
^h^eade^d^by^t^h^{e N}^a^tⁱ^oⁿ^a^l^F^l^{ood In}^s^u^ran^{ce A}^d^v^o^cat^{e, t}^o^as^sⁱ^s^t^f^l^{ood prog}^ram^t^o^prom^ot^{e ef}^fⁱ^ci^en^cy^an^d^redu^{ce f}^r^au^{d an}^d
ⁱⁿ^su^red^sⁱⁿ^reso^lvⁱⁿ^g^p^r^o^b^l^em^{s w}^ith^th^{e NFIP}^{, in}^clu^dⁱⁿ^g^issu^es^coⁿ^f^li^c^t^s^o^fⁱⁿ^{terests; req}^u^{est d}^o^c^u^m^en^{ts an}^d^testim^oⁿ^y^;^an^d
^{related to bu}^reau^{cratic obs}^taclesⁱⁿ^th^{e ev}^en^{t of}^a^dis^a^s^t^{er. T}^h^e^es^t^a^blⁱ^s^h^regⁱ^on^al^f^l^{ood i}ⁿ^s^u^ran^{ce adv}^o^cat^es^{. (S}^{ec. 131)}

^A^d^mⁱⁿⁱ^s^t^rat^o^{r w}^o^u^l^{d be requi}^r^e^{d t}^o^s^u^bmⁱ^t^t^h^{e report}^t^o
^C^oⁿ^g^r^es^s^.^{(Sec. 34)}

^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^Co^m^mⁱ^ssioⁿ^oⁿ^Na^t^u^r^a^{l Ca}^t^a^st^r^o^phe^Risk^M^a^na^g^e^m^e^nt^a^{nd Insur}^a^nc^e
^C^o^m^mⁱ^s^sⁱ^on^on^N^a^t^u^ral^No^sim^{ilar p}^r^o^v^isioⁿ^.^W^o^u^l^d^es^t^a^b^lish^{a 1}⁶^-^m^e^m^b^{er n}^oⁿ^p^artisan^Co^m^mⁱ^ssioⁿ^oⁿ^Natu^ral
^Ca^ta^str^o^p^h^e^Risk^Ca^ta^str^o^p^h^e^{Risk M}^a^na^ge^m^e^{nt a}ⁿ^d^Iⁿ^sur^a^nc^e⁽^“^Co^m^mⁱ^ssioⁿ^”⁾^to
^M^a^na^ge^m^e^nt^aⁿ^d^ex^amⁱⁿ^{e th}^{e ris}^k^s^po^s^e^d^{to th}^{e Un}^{ited States}^byⁿ^a^tu^ral
^In^s^u^ran^ce^catastro^p^h^{es, an}^d^th^{e m}^ean^{s o}^f^m^itig^atin^g^th^o^s^{e risk}^{s a}ⁿ^d^p^a^yⁱⁿ^g
^f^o^{r los}^s^e^s^cau^s^e^{d by}ⁿ^a^tu^ral^catas^troph^es^{. T}^h^{e C}^o^m^mⁱ^s^sⁱ^on^w^o^u^l^d
^e^x^amⁱⁿ^{e su}^ch^issu^{es as: (1}^{) th}^{e co}ⁿ^d^itioⁿ^o^f^th^{e p}^r^o^p^e^rty^aⁿ^d
^ca^s^u^a^l^t^yⁱⁿ^s^u^ran^{ce an}^{d rein}^s^u^ran^{ce m}^a^rk^ets^{prior to an}^{d in}^th^e
^af^t^e^rm^at^h^of^H^u^rri^can^{e K}^a^t^rⁱⁿ^{a, R}ⁱ^t^a^{, an}^{d Wi}^l^m^{a i}ⁿ^2005,^an^d^t^h^e
^f^o^u^r^m^a^j^o^r^h^u^rrican^es^th^{at s}^t^ru^ckⁱⁿ^{2004; (2) th}^{e cu}^rren^t^ability^of
^{states, co}^m^m^uⁿ^{ities, an}^dⁱⁿ^dⁱ^vⁱ^d^u^{als to}^m^itig^{ate th}^{eir n}^a^tu^ral
^catastro^p^h^{e risk}^{s, in}^clu^dⁱⁿ^g^t^h^{e af}^f^o^rd^ab^ility^an^d^av^ailab^ility^o^f
^s^u^ch^activ^{ities; (3}^{) th}^{e ex}^p^o^s^u^r^{e o}^f^th^{e U.S. to}ⁿ^a^t^u^r^a^l
^catas^troph^es^{; (4) th}^{e cat}^a^s^troph^{ic in}^s^u^ran^{ce an}^{d rein}^s^u^ran^c^e
^m^a^rk^{ets an}^d^th^{e relev}^aⁿ^t^p^r^{actices in}^p^r^o^v^idⁱⁿ^gⁱⁿ^su^ran^c^e
ⁱ^{ki/CRS-RL34367}^protection^;^{(5) im}^plem^en^tation^of^{a catas}^troph^{ic in}^s^u^ran^{ce s}^y^s^t^em
^g/w^th^{at can}^res^o^lv^{e k}^e^y^obs^tacles^im^pedin^g^broader^im^plem^en^tation
^s^.or^o^f^c^a^t^a^s^t^r^o^p^hⁱ^c^rⁱ^{sk m}^a^na^ge^m^e^nt^aⁿ^d^fi^na^ncⁱ^{ng w}ⁱ^t^hⁱⁿ^sur^a^nc^e^;⁽⁶⁾
^le^ak^t^h^e^fⁱⁿ^aⁿ^c^{ial f}^eas^ibility^of^{a n}^a^tion^a^{l, reg}ⁱ^on^{al, or oth}^e^{r pooling}
^m^ech^an^is^m^desⁱ^gⁿ^e^{d to}^prov^ide^adequ^a^{te in}^s^u^ran^{ce cov}^e^rag^e^an^d
^://wikiⁱⁿ^creas^{ed u}ⁿ^d^erw^r^iti^{ng capacity}^{to in}^s^u^rers^an^{d rein}^s^u^rers^,
^h^ttpⁱⁿ^clu^dⁱⁿ^g^p^r^iv^ate-^p^u^b^{lic p}^a^rtn^e^rshⁱ^p^s^toⁱⁿ^{crease in}^su^r^aⁿ^c^e
^c^a^paci^t^yⁱⁿ^con^s^t^r^aiⁿ^e^{d m}^a^rk^et^s^;^{(7) m}^e^t^h^ods^t^o^prom^ot^e^p^u^b^lⁱ^c
ⁱⁿ^su^ran^ce^p^o^{licies to}^red^u^{ce lo}^{sses cau}^sed^b^yⁿ^a^tu^ral^catastro^p^h^es
ⁱⁿ^t^h^e^uⁿⁱⁿ^s^u^r^ed^s^ect^ors^of^t^h^{e U}^.^S^.^popu^l^a^tⁱ^oⁿ^;^{(8) approach}^es^t^o
^ad^d^r^{ess access to}ⁱⁿ^su^ran^{ce i}ⁿ^lo^w^-ⁱⁿ^co^m^e^co^m^m^uⁿ^{ities; (9}^{) th}^e
^im^p^{act o}^f^f^e^d^e^{ral an}^d^{state law}^s^{, reg}^u^l^atioⁿ^s^{, an}^d^p^o^{licies o}ⁿ^th^e
^af^f^o^rd^ab^ility^an^d^av^ailab^ility^o^f^catast^r^o^p^h^eⁱⁿ^su^ran^{ce an}^d^th^e
^capacity^o^f^priv^{ate catas}^troph^{e in}^s^u^ran^{ce m}^a^rk^ets^;^{(10) th}^e
^fⁱⁿ^aⁿ^c^{ial co}ⁿ^d^itioⁿ^o^f^{state resid}^u^{al m}^a^rk^{ets an}^d^catastro^p^h^{e f}^uⁿ^d^s
ⁱⁿ^hi^gh-rⁱ^{sk r}^e^gi^oⁿ^s;⁽¹¹⁾^t^h^e^r^o^l^e^t^h^a^tⁱ^nno^va^tⁱ^o^{n i}ⁿ^fi^na^ncⁱ^a^l
^s^e^rv^{ices, an}^d^sp^ecifⁱ^cally^risk^ed^-^lin^k^e^d^secu^{rities, in}^im^p^r^o^vⁱⁿ^g^t^h^e
^af^f^o^rd^ab^ility^an^d^av^ailab^ility^o^fⁿ^a^tu^{ral catastro}^p^h^{e in}^su^ran^ce;⁽¹²⁾
^t^h^e^ne^e^d^fo^r^st^r^e^ngt^he^ne^d^l^a^nd^use^r^e^gul^a^tⁱ^o^{ns a}ⁿ^d^b^uⁱ^l^dⁱ^{ng c}^o^d^e^s
ⁱⁿ^s^t^ates^{at h}ⁱ^g^h^ris^k^f^o^{r n}^a^tu^{ral catas}^troph^es^{; an}^{d (13) th}^e
^ap^p^r^o^p^r^{iate ro}^{le, if}^an^y^,^f^o^{r th}^{e f}^e^d^e^{ral g}^o^v^e^rn^m^eⁿ^tⁱⁿ^stab^ilizin^g
^th^{e property}^an^{d cas}^u^a^ltyⁱⁿ^s^u^ran^{ce an}^{d rein}^s^u^ran^ce^m^a^rk^ets^.^(Sec
²⁰⁵⁾

^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^No^sim^{ilar p}^r^o^v^isioⁿ^.^T^h^{e Co}^m^mⁱ^ssioⁿ^w^o^u^l^d^su^b^m^{it a rep}^o^r^{t to}^Coⁿ^g^r^{ess n}^o^t^later^th^an
⁹^m^o^nt^{hs a}^f^t^e^r^eⁿ^a^c^t^m^e^nt^wⁱ^t^h^a^p^o^ssi^b^l^e³^-^m^o^nt^{h e}^x^t^e^nsi^o^n.
^(S^{ec. 206)}
^No^sim^{ilar p}^r^o^v^isioⁿ^.^T^h^{e Co}^m^mⁱ^ssioⁿ^w^o^u^l^d^termⁱⁿ^ate⁹⁰^d^a^y^s^af^{ter th}^{e d}^a^te^oⁿ^w^h^ich
^t^h^{e C}^o^m^mⁱ^s^sⁱ^on^s^u^bmⁱ^t^sⁱ^t^s^report^.^(S^{ec. 209)}
^N^o^sⁱ^mⁱ^l^a^r^p^r^o^vⁱ^sⁱ^oⁿ^.^W^o^u^l^{d au}^th^{orize to be app}^r^o^p^rⁱ^a^t^e^{d s}^u^ch^s^u^m^s^as^m^a^y^be
ⁿ^eces^s^a^ry^t^o^com^p^l^e^t^e^t^h^{e w}^o^rk^of^t^h^{e C}^o^m^mⁱ^s^sⁱ^on^{. (S}^{ec. 210)}
^GAO^St^{udies a}^{nd O}^t^{her Repo}^rt^s
^G^A^O^S^t^u^d^y^of^Met^h^ods^t^o^W^o^u^l^d^dⁱ^{rect GA}^{O to}^coⁿ^d^u^c^{t a stu}^d^y^o^f^p^o^t^en^{tial m}^e^th^o^d^s^,^No^sim^{ilar p}^r^o^v^isioⁿ^.
^In^creas^{e P}^a^rticipation^of^practices^{, an}^{d in}^cen^tiv^es^th^at^w^o^{uld in}^creas^{e th}^{e deg}^r^{ee to}
^L^o^w^-^In^co^m^e^Fam^{ilies in}^w^h^ich^lo^w^-ⁱⁿ^co^m^e^p^r^o^p^e^rty^o^wⁿ^e^{rs liv}ⁱⁿ^gⁱⁿ^hⁱ^g^h^-^risk^areas
^th^{e NFIP}^{participate in}^t^h^{e NFIP}^{. T}^h^{e s}^t^u^d^y^w^o^u^l^{d an}^aly^{ze th}^e
ⁱ^{ki/CRS-RL34367}^f^easib^ility^o^f^p^r^o^vⁱ^dⁱⁿ^g^co^v^e^rag^e^to^lo^w^-ⁱⁿ^co^m^e^f^a^m^{ilies at}^dⁱ^sc^o^unt^e^d^r^a^t^e^s,^t^h^e^a^m^o^unt^{s o}^f^t^h^e^dⁱ^sc^o^unt^t^o^m^a^keⁱ^t
^g/w^af^f^o^rd^ab^le,^an^d^th^e^ex^ten^t^to^w^h^ich^lo^w^-ⁱⁿ^co^m^e^f^a^m^{ilies w}^o^u^l^d
^s^.or^b^e^af^f^{ected by}^ex^pan^dⁱⁿ^g^th^{e m}^aⁿ^d^atory^p^u^r^c^ha^s^e
^le^ak^requ^irem^en^ts^{. (Sec. 19)}
^://wiki^R^e^port^on^Fⁱⁿ^aⁿ^cⁱ^a^l^W^o^ul^d^r^e^q^uⁱ^r^e^FE^M^A^t^o^sub^mⁱ^t^aⁿ^a^nnua^l^r^e^p^o^r^t^t^o^Co^ngr^e^s^s^W^o^u^l^d^req^u^{ire GA}^{O to}^coⁿ^d^u^c^{t a stu}^d^y^an^d^su^b^m^{it a rep}^o^r^{t to}
^h^ttp^Coⁿ^d^itioⁿ^s^o^f^NFIP^on^t^h^e^fi^na^nci^a^l^s^t^at^u^s^of^t^h^{e prog}^ram^.^T^h^{e report}^w^o^u^l^d^Coⁿ^g^r^{ess o}ⁿ^NFIP^’^s^activ^{ities an}^d^fⁱⁿ^aⁿ^c^{ial h}^ealth^,ⁱⁿ^clu^dⁱⁿ^g^th^e
ⁱⁿ^clu^d^{e in}^f^o^rm^atⁱ^oⁿ^on^th^{e cu}^rren^t^an^{d proj}^{ected lev}^e^ls^of^am^ouⁿ^t^pai^dⁱⁿ^premⁱ^u^m^s^{, l}^o^sse^s,^ex^pen^s^es^{, n}^u^m^{ber of}^polⁱ^cⁱ^e^s^,
^claim^s^{, prem}^iu^m^receipts^,^ex^pen^s^es^{, an}^{d T}^r^eas^u^r^y^borr^o^wⁱⁿ^gⁱⁿ^s^u^ran^{ce in}^f^o^{rce, es}^tim^{ate of}^av^erag^e^los^s^y^{ear an}^{d a des}^c^ription
^uⁿ^d^{er th}^{e prog}^ram^.^{(Sec. 14)}^an^{d am}^ouⁿ^t^of^cl^ai^m^s^pai^d^{. (S}^{ec. 132(b))}
^G^A^O^R^e^port^on^W^o^u^l^d^req^u^{ire th}^{e GA}^{O to}^stu^d^y^th^{e reg}^u^l^ato^r^y^,^fⁱⁿ^aⁿ^c^{ial, an}^d^W^o^u^l^d^req^u^ire^G^A^O^t^o^su^b^m^{it a rep}^o^r^{t to}^Coⁿ^g^r^{ess o}ⁿ^{: (1}^{) th}^e
^E^x^p^a^ndⁱ^{ng t}^h^e^N^F^I^P^ecoⁿ^o^mⁱ^{c f}^easib^ility⁽ⁱ^{.e., co}^{sts o}^f^h^o^m^e^-^o^wⁿ^ersh^ip^{, actu}^a^rialⁿ^u^m^{ber of}^f^l^{ood i}ⁿ^s^u^ran^{ce pol}ⁱ^c^y^h^ol^ders^cu^rren^t^l^yⁱⁿ^s^u^red;^{(2) t}^h^e
^s^o^uⁿ^dⁿ^e^s^s^of^prog^ram^,^l^e^nd^e^r^com^p^lⁱ^aⁿ^{ce) of}^ex^pan^dⁱⁿ^g^t^h^eⁱⁿ^creas^{ed l}^o^s^s^e^s^t^h^{e N}^F^I^P^w^o^u^l^{d h}^a^v^e^s^u^s^t^aiⁿ^e^{d du}^riⁿ^g^t^h^{e 2004}
^s^t^an^dard^f^o^r^m^aⁿ^d^at^ory^f^l^{ood i}ⁿ^s^u^ran^{ce pu}^rch^a^s^e^requⁱ^r^em^en^t^an^{d 2005 h}^u^rri^can^{e s}^eas^on^sⁱ^f^t^h^{e prog}^ram^h^a^dⁱⁿ^s^u^{red al}^l^polⁱ^cⁱ^e^s
^t^oⁱⁿ^clu^d^{e (1) properties}ⁱⁿ^areas^of^resⁱ^du^{al ris}^k^th^at^w^o^ul^d^u^p^{to $417,000, an}^{d (3) th}^{e av}^ailabilityⁱⁿ^th^e^priv^ate^m^a^rk^etplace
^f^l^{ood i}^fⁿ^o^t^f^o^{r t}^h^{e pres}^en^{ce of}^s^t^ru^ct^u^r^al^f^l^{ood con}^t^rol^of^f^l^{ood in}^s^u^ran^{ce cov}^e^rag^eⁱⁿ^am^ouⁿ^t^s^th^{at ex}^{ceed th}^{e cu}^r^r^eⁿ^t
^m^eas^u^r^es^s^u^ch^as^l^e^v^ees^{, f}^l^oodw^al^l^s^{, an}^d^dam^s^(S^{ec. 3(a)(2));}^cov^e^rag^e^lⁱ^mⁱ^t^s^{. (S}^{ec. 132(a))}

^an^{d (2) properties}^th^{at are loc}^a^t^{ed in}^an^y^{area h}^a^vⁱⁿ^g^s^p^ecial
^f^l^{ood hazar}^ds^aⁿ^{d w}^hⁱ^c^h^s^e^c^u^r^e^s^t^h^e^r^e^pa^y^m^eⁿ^t^of^aⁿ^oⁿ^-
^f^e^derally^{related loan}^{. (S}^{ec. 3(a)(3)).}

^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^GA^{O Rev}ⁱ^ew^o^f^FEMA^N^o^sⁱ^mⁱ^l^a^r^provⁱ^sⁱ^oⁿ^.^Woul^d^r^e^q^uⁱ^r^e^G^A^O^,ⁱⁿ^c^o^nj^unc^tⁱ^o^{n w}ⁱ^t^h^t^h^e^D^H^S^In^s^p^ect^or
^C^oⁿ^t^ractors^Gen^e^rals^Of^fⁱ^{ce, to rev}ⁱ^ew^th^{e th}^{ree larg}^es^{t con}^t^racto^r^s^F^E^MA
^u^s^esⁱⁿ^admⁱⁿⁱ^s^t^eriⁿ^g^t^h^{e N}^F^{IP. (S}^{ec. 132(d))}
^GA^{O Stu}^d^y^oⁿ^P^r^e-^FIRM^W^o^u^l^{d au}^th^{orize GA}^{O to is}^s^u^{e a report on}^t^h^e^s^t^atu^s^of^th^e^W^o^u^l^d^r^e^qu^{ire GA}^{O to con}^d^u^c^{t a s}^t^u^d^y^of^pre-^FIR^M^s^t^ru^ctu^r^es
^Stru^ctu^r^es^pre-^F^I^R^M^propertⁱ^e^sⁱⁿ^cl^u^dⁱⁿ^g^t^h^{e n}^u^m^{ber of}^propertⁱ^e^s^,^cos^t^th^{at are receiv}ⁱⁿ^g^dis^c^ouⁿ^t^{ed prem}^iu^m^rates^.^T^h^is^s^t^u^d^y^w^o^u^l^{d be}
^o^f^p^r^o^v^idⁱⁿ^g^co^v^e^rag^e^{, th}^{e rate at w}^h^ich^su^ch^p^r^o^p^e^{rties w}^ill^desⁱ^gⁿ^e^{d t}^o^det^e^rmⁱⁿ^{e t}^h^{e n}^u^m^be^r^aⁿ^d^t^y^pes^of^pre-^F^I^R^M
^ceas^{e to be cov}^e^{red u}ⁿ^d^{er th}^{e prog}^ram^an^{d th}^e^e^ffects^of^th^e^s^t^ru^ctu^r^es^an^{d w}^h^{o ow}ⁿ^s^th^{e properties}^,^th^{eir location}^s^{, an}^d
^{2004 R}^e^f^o^rm^A^c^{t w}^{ill h}^a^v^e^on^pre-^FIR^M^properties^.^{(Sec. 3)}^propert^y^v^a^l^u^es^{. (S}^{ec. 132(c))}
^GA^{O Stu}^d^y^o^f^Mu^ltip^eril^W^o^u^l^{d au}^th^{orize GA}^{O to con}^d^u^c^{t a s}^t^u^d^y^of^th^{e ef}^f^ects^of^th^e^No^sim^{ilar p}^r^o^v^isioⁿ^.
^In^s^u^ran^{ce P}^r^og^ram^on^m^u^ltip^{eril in}^su^ran^{ce p}^r^o^g^ram^oⁿ^en^ro^llm^en^{t an}^d^p^r^icin^g^o^f
^{State R}^e^sⁱ^du^{al Mark}^ets^s^t^ate^resⁱ^du^{al property}^an^{d cas}^u^a^lty^m^a^rk^ets^{or plan}^s^an^d^s^t^ate
^catas^troph^{e plan}^s^.^{(Sec. 33)}
^FEMA^Rep^o^r^{t o}ⁿ^B^u^ildⁱⁿ^g^W^o^u^l^d^au^th^o^r^ize^FEMA^to^su^b^m^{it a rep}^o^r^{t to}^Coⁿ^g^r^{ess o}ⁿ^th^e^W^o^u^l^d^req^u^{ire FEMA}^to^coⁿ^d^u^c^t^a^s^t^u^d^y^an^d^su^b^m^{it a rep}^o^r^{t to}
ⁱ^{ki/CRS-RL34367}^C^odes^reg^u^l^atory^,^fⁱⁿ^aⁿ^c^{ial an}^{d econ}^o^mⁱ^{c im}^pacts^ofⁱⁿ^clu^dⁱⁿ^g^Coⁿ^g^r^ess^oⁿ^th^{e im}^p^{act, ef}^f^ectiv^en^{ess an}^d^f^easib^ility^o^fⁱⁿ^clu^dⁱⁿ^g
^g/wⁿ^a^tⁱ^oⁿ^a^l^l^y^recogⁿⁱ^{zed bu}ⁱ^l^dⁱⁿ^g^codes^as^part^of^t^h^{e f}^l^oodpl^aiⁿⁿ^a^tⁱ^oⁿ^a^l^l^y^reco^gni^z^e^{d bu}ⁱ^l^dⁱⁿ^g^codes^as^part^of^F^E^MA^’^s
^s^.or^m^aⁿ^a^g^e^m^eⁿ^t^{criteria of}^th^{e NFIP}^{. (Sec. 28)}^f^l^oodpl^aⁱⁿ^m^aⁿ^a^g^e^m^eⁿ^t^c^rⁱ^t^e^rⁱ^a^.^Th^e^s^t^u^d^y^w^o^u^l^d^d^e^t^e^r^mⁱⁿ^e^,
^le^ak^a^m^o^{ng o}^t^he^r^t^hⁱ^ngs,^t^h^e^r^e^gul^a^t^o^r^y^,^fⁱⁿ^a^ncⁱ^a^l^,^aⁿ^d^e^c^o^no^mⁱ^cⁱ^m^pact^s^of^t^h^{e bu}ⁱ^l^dⁱⁿ^g^{code requ}ⁱ^r^em^en^t^on^h^o^m^e^owⁿ^e^r^s^,^s^t^at^es
^://wiki^an^d^lo^{cal co}^m^m^uⁿ^{ities, lo}^{cal lan}^d^u^s^{e p}^o^lⁱ^cⁱ^e^s^,^FEMA^{, th}^{e state}^an^{d local com}^m^uⁿ^ity^res^o^u^r^cesⁿ^eed^{ed to en}^f^o^{rce th}^is^requ^irem^en^t
^h^ttp^an^{d t}^h^e^ef^f^ectⁱ^v^en^es^s^of^t^h^{e codes}ⁱⁿ^redu^ciⁿ^g^f^l^ood-^rel^a^t^e^d
^dam^a^g^e^t^o^buⁱ^l^dⁱⁿ^g^s^an^{d con}^t^en^t^s^{. (S}^{ec. 135)}
^GA^{O Feasib}^ility^Stu^d^y^oⁿ^N^o^sⁱ^mⁱ^l^a^r^provⁱ^sⁱ^oⁿ^.^W^o^ul^d^r^e^q^uⁱ^r^e^G^A^O^t^o^s^u^bmⁱ^t^a^r^e^p^o^r^t^t^o^Co^ngr^e^ss^oⁿ^t^h^e
^P^r^iv^{ate R}^eⁱⁿ^s^u^ran^c^e^f^easib^ility^o^f^p^u^rch^a^sin^g^p^r^iv^{ate rein}^su^ran^{ce o}^r^retro^cessioⁿ^ary
^cov^e^rage^t^o^uⁿ^d^erw^rⁱ^t^e^pri^m^ary^pri^v^at^{e i}ⁿ^s^u^rers^f^o^{r f}^l^{ood l}^o^s^s^e^s
^an^d^th^{e estim}^ated^p^o^t^en^{tial to}^{tal sav}ⁱⁿ^g^s^to^th^{e tax}^p^ay^{er o}^f^takⁱⁿ^g
^t^hⁱ^s^actⁱ^oⁿ^.^(S^{ec. 133)}
^WY^O^In^s^u^{rer Ex}^pen^s^e^N^{o s}ⁱ^mⁱ^l^a^{r prov}ⁱ^sⁱ^oⁿ^.^Wou^l^{d requ}ⁱ^r^{e F}^E^MA^wⁱ^t^hⁱⁿ^{6 m}^oⁿ^t^h^s^of^en^act^m^eⁿ^t^t^o^dev^e^l^op^a
^proces^s^{to collect exp}^e^ns^eⁱⁿ^f^o^rm^ation^f^r^om^W^{YO in}^s^u^rers^an^d
^revⁱ^s^e^ex^pen^s^{e reim}^bu^rs^em^en^{t proces}^s^.^GA^O^w^o^u^l^{d receiv}^e^data
^f^r^o^m^th^{e A}^d^mⁱⁿⁱ^strato^{r an}^d^rep^o^r^{t to}^Coⁿ^g^r^ess^oⁿ^th^e
^ef^f^ectⁱ^v^en^es^s^of^t^h^{e n}^e^w^proces^s^.^(S^{ec. 129)}

^Provi^sⁱ^on^H.R^.^{3121 (W}^aters⁾^(Pas^s^e^d^b^y^Hou^s^{e 9/}^27/⁰⁷⁾^S^.²²⁸⁴^(Pas^s^e^d^b^y^S^eⁿ^a^{te 5/}^13/⁰⁸⁾
^Mⁱ^s^cel^l^aⁿ^e^ou^s^Provi^sⁱ^on
^Strategⁱ^{c P}^e^tro^l^eu^m^No^sim^{ilar p}^r^o^v^isioⁿ^.^W^o^u^l^d^su^sp^en^d^f^e^d^e^{ral g}^o^v^e^rn^m^eⁿ^t^p^e^tro^l^eu^m^acq^uⁱ^sitioⁿ^f^o^r^th^e
^Re^se^r^v^e^s^S^t^rat^e^gⁱ^{c Pet}^r^ol^eu^m^R^e^s^e^rv^es^{. (S}^{ec. 302)}
^R^e^im^bu^rs^em^en^{t of}^N^o^sⁱ^mⁱ^l^a^{r prov}ⁱ^sⁱ^oⁿ^.^Wou^l^{d m}^odi^f^y^t^h^{e proj}^ect^f^o^r^f^l^ood^con^t^rol^,^Bi^g^Sⁱ^ou^x^Rⁱ^v^e^{r an}^d
^Ex^pen^s^esⁱⁿ^F^l^{ood C}^oⁿ^t^rol^{Skunk Cr}^e^e^k^,^Si^o^{ux Fa}^l^l^s^,^So^ut^{h D}^a^ko^t^a^t^o^a^u^t^h^o^rⁱ^z^e^t^h^e
^P^r^oj^ects^rei^m^burs^e^m^eⁿ^t^of^t^h^{e n}^oⁿ^-^f^e^deral^s^h^{are of}^proj^ect^{, on}^l^yⁱ^f
^ad^d^itioⁿ^a^{l f}^e^d^e^{ral f}^uⁿ^d^{s are ap}^p^r^o^p^r^iated^f^o^{r th}^{at p}^u^rp^o^s^e.
^(S^{ec. 301)}
^Source:^C^oⁿ^g^r^es^sⁱ^on^{al R}^e^s^earch^Serv^{ice ex}^amⁱⁿ^ation^of^legⁱ^s^l^ation^.

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