Sec. 5. Construction and restoration of flood protection systems
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Section 1307(e) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4014(e) ) is amended— in the first sentence, by inserting or reconstruction after construction ; in the second sentence, by striking construction of a flood protection system as required herein has been only if and inserting construction or reconstruction of a flood protection system has been made only if, based on the present value of the completed system ; and by adding at the end the following new sentence:
The Administrator shall not consider the level of Federal funding of or participation in the construction or reconstruction of a flood protection system in determining whether adequate progress on such construction has been made. . Section 1307(f) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4014(f) ) is amended in the first sentence by striking no longer does so. and inserting the following: no longer does so, and shall apply without regard to the level of Federal funding of or participation in the restoration of the flood protection system. .
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Sec. 5
Construction and restoration of flood protection systems
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