Sec. 3. Determination of affordability; submission of proposed legislative changes
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/bill/113/hr/3218/ih/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Administrator of the Federal Emergency Management Agency shall submit to the Congress, and to the Secretary of the Senate if the Senate is not in session and to the Clerk of the House of Representatives if the House is not in session, together with the report referred to in section 2(a) of this Act— a determination of whether risk premium rates for flood insurance coverage under the national flood insurance program resulting from the amendments referred to in section 2(a) of this Act are substantially affordable for all homeowners; and if the determination under paragraph
(1)of this subsection is that such premium rates are not substantially affordable for all homeowners— recommendations for legislative modifications, including any modifications necessary to the amendments referred to in section 2(a), sufficient to ensure that risk premium rates for flood insurance coverage under the national flood insurance program resulting from the amendments referred to in section 2(a) of this Act are substantially affordable for all homeowners; and a proposed joint resolution that provides for the legislative modifications under subparagraph (A). The Administrator shall make the matter submitted to the Congress pursuant to subsection (a), including the proposed joint resolution, publicly available, and shall publish in the Federal Register a notice of the matter and information on how it can be obtained.