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Code · BILL · 113th Congress · H.R. 3924 (Introduced in House) — To delay increases in premium rates for flood insurance coverage under the National Flood Insurance Program, establis... · Sec. 3

Sec. 3. Cap on annual cost of flood insurance

78 words·~1 min read·/bill/113/hr/3924/ih/section-3·

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Section 1308 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4015 ) is amended— by redesignating subsection
(i)as subsection (j); and by inserting after subsection
(h)the following new subsection:. Notwithstanding any other provision of this title, the maximum annual chargeable premium rate for a property shall be the appraised value of the property at the time of the purchase of the property by the current owner of the property divided by 30. .
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Sec. 3
Cap on annual cost of flood insurance
U.S.C.§ 4015
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