Sec. 3. Delayed implementation of flood insurance rate increases; draft affordability framework
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Beginning on the date of enactment of this Act, the Administrator may not increase risk premium rates for flood insurance for any property located in an area subject to the premium adjustment required under section 1308(h) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4015(h) ). Beginning on the date of enactment of this Act, the Administrator may not reduce the risk premium rate subsidies for flood insurance for any property— described under section 1307(g)(1) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4014(g)(1) ); or described under 1307(g)(3) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4014(g)(3) ), provided that the decision of the policy holder to permit a lapse in flood insurance coverage was as a result of the property no longer being required to retain such coverage.
The prohibitions set forth under paragraphs
(1)and
(2)shall expire 6 months after the later of— the date on which the Administrator proposes the draft affordability framework; the date on which any regulations proposed pursuant to the authority that the Administrator is granted in the affordability authority bill, if such bill is enacted, become final; or the date on which the Administrator certifies in writing to Congress that the Federal Emergency Management Agency has implemented a flood mapping approach that utilizes sound scientific and engineering methodologies to determine varying levels of flood risk in all areas participating in the National Flood Insurance Program. Section 1307(g)(2) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4014(g)(2) ) is amended to read as follows: any property purchased after the expiration of the 6-month period set forth under section 3(a)(3) of the Homeowner Flood Insurance Affordability Act of 2013 ; . Beginning on the date of enactment of this Act and ending upon the expiration of the 6-month period set forth under subsection (a)(3), the Administrator shall restore the risk premium rate subsidies for flood insurance estimated under section 1307(a)(2) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4014(a)(2) ) for any property described in subparagraphs
(A)and
(B)of subsection (a)(2) of this Act and in section 1307(g)(2) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4014(g)(2) ). The Administrator shall prepare a draft affordability framework that proposes to address, via programmatic and regulatory changes, the issues of affordability of flood insurance sold under the National Flood Insurance Program, including issues identified in the affordability study. In carrying out the requirements under paragraph (1), the Administrator shall consider the following criteria: Accurate communication to consumers of the flood risk associated with their property. Targeted assistance to flood insurance policy holders based on their financial ability to continue to participate in the National Flood Insurance Program. Individual or community actions to mitigate the risk of flood or lower the cost of flood insurance. The impact of increases in risk premium rates on participation in the National Flood Insurance Program. The impact flood insurance rate map updates have on the affordability of flood insurance. Not later than 18 months after the date on which the Administrator submits the affordability study, the Administrator shall submit to the full Committee on Banking, Housing, and Urban Affairs and the full Committee on Appropriations of the Senate and the full Committee on Financial Services and the full Committee on Appropriations of the House of Representatives the draft affordability framework. Upon introduction in either House of Congress, an affordability authority bill shall not be referred to a committee and shall immediately be placed on the calendar. It shall be in order to move to proceed to consider the affordability authority bill in the House. All points of order against the motion are waived. Such a motion shall not be in order after the House has disposed of a motion to proceed with respect to the affordability authority bill. The previous question shall be considered as ordered on the motion to its adoption without intervening motion. The motion shall not be debatable. A motion to reconsider the vote by which the motion is disposed of shall not be in order. The affordability authority bill shall be considered as read. All points of order against the affordability authority bill and against its consideration are waived. The previous question shall be considered as ordered on the affordability authority bill to its passage without intervening motion except 10 hours of debate equally divided and controlled by the proponent and an opponent. A motion to reconsider the vote on passage of the affordability authority bill shall not be in order. Upon introduction in the Senate, an affordability authority bill shall be immediately placed on the calendar. Notwithstanding Rule XXII of the Standing Rules of the Senate, it is in order, at any time beginning on the day after the 6th day after the date of introduction of an affordability authority bill (even if a previous motion to the same effect has been disagreed to) to move to proceed to the consideration of the affordability authority bill and all points of order against consideration of the affordability authority bill are waived. The motion to proceed is not debatable. The motion is not subject to a motion to postpone. A motion to reconsider the vote by which the motion is agreed to or disagreed to shall not be in order. If a motion to proceed to the consideration of the affordability authority bill is agreed to, the affordability authority bill shall remain the unfinished business until disposed of. All points of order against the affordability authority bill are waived. Consideration of the affordability authority bill and of all debatable motions and appeals in connection therewith shall be limited to not more than 10 hours which shall be divided equally between the majority and minority leaders or their designees. A motion further to limit debate on the affordability authority bill is in order, and is not debatable. An amendment to the affordability authority bill, or a motion to postpone, or a motion to proceed to the consideration of other business, or a motion to commit or recommit the affordability authority bill, is not in order. If the Senate has voted to proceed to the affordability authority bill, the vote on passage of the affordability authority bill shall occur immediately following the conclusion of consideration of the affordability authority bill, and a single quorum call at the conclusion of the debate if requested in accordance with the rules of the Senate. The affordability authority bill shall not be subject to amendment in either the House of Representatives or the Senate. If, before passing the affordability authority bill, one House receives from the other an affordability authority bill— the affordability authority bill of the other House shall not be referred to a committee; and the procedure in the receiving House shall be the same as if no affordability authority bill had been received from the other House except that the vote on passage shall be on the affordability authority bill of the other House. This subsection shall not apply to the House of Representatives if the affordability authority bill received from the Senate is a revenue measure. If the Senate fails to introduce or consider a affordability authority bill under this section, the affordability authority bill of the House shall be entitled to expedited floor procedures under this section. If following passage of the affordability authority bill in the Senate, the Senate then receives the affordability authority bill from the House of Representatives, the House-passed affordability authority bill shall not be debatable. If the President vetoes the affordability authority bill, debate on a veto message in the Senate under this section shall be 1 hour equally divided between the majority and minority leaders or their designees. This subsection is enacted by Congress— as an exercise of the rulemaking power of the Senate and the House of Representatives, respectively, and as such it is deemed a part of the rules of each House, respectively, but applicable only with respect to the procedure to be followed in that House in the case of an affordability authority bill, and it supersedes other rules only to the extent that it is inconsistent with such rules; and with full recognition of the constitutional right of either House to change its rules at any time, in the same manner, and to the same extent as in the case of any other rule of that House. The Administrator may enter into an agreement with another Federal agency to— complete the affordability study; or prepare the draft affordability framework. The Administrator shall clearly communicate full flood risk determinations to individual property owners regardless of whether their premium rates are full actuarial rates. Nothing in this section shall be construed to provide the Administrator with the authority to provide assistance to homeowners based on affordability that was not available prior to the enactment of the Biggert-Waters Flood Insurance Reform Act of 2012 ( Public Law 112–141 ; 126 Stat. 916).
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- Pub. L. 112-141
- 126 Stat. 916
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Sec. 3
Delayed implementation of flood insurance rate increases; draft affordability framework
Pub. L.Pub. L. 112-141
Stat.126 Stat. 916
Cites 4Cited by 0 across 0 sources