Sec. 3. 5-year delay in implementation of full actuarial rates for newly purchased properties
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(2)of section 1307(g) of the National Flood Insurance Act of 1968 (42 U.S.C. 4014(g)(2)) is amended by inserting the expiration of the 5-year period that begins upon before the date of enactment of the Biggert-Waters Flood Insurance Reform Act of 2012 . The amendment made by subsection
(a)shall be construed to require that, in the case of any property purchased after the date of the enactment of the Biggert-Waters Flood Insurance Reform Act of 2012 but before the date of the enactment of this Act, any premium rate increase made with respect to such purchase pursuant to section 1307(g)(2) of the National Flood Insurance Act of 1968 be reversed.
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Sec. 3
5-year delay in implementation of full actuarial rates for newly purchased properties
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