Sec. 3. WYO reimbursement methodology
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Subsection
(b)of section 100204 of the Biggert-Waters Flood Insurance Reform Act of 2012 ( 42 U.S.C. 4081 note) is amended by adding after and below paragraph
(3)the following: Any such methodology developed shall provide that such reimbursements for any property and casualty insurer for selling, writing, and servicing flood insurance policies, and adjusting flood insurance claims, including any allowances for profit, shall not in any case exceed 110 percent of the aggregate amount of such actual expenses of the insurer. . Not later than the expiration of the 90-day period beginning on the date of the enactment of this Act, the Administrator shall submit to the Congress the methodology required to be developed under section 100224(b) of the Biggert-Waters Flood Insurance Reform Act of 2012 ( 42 U.S.C. 4081 note), as amended by subsection
(a)of this subsection, or, if such methodology has not been completed as of the time of such submission, the methodology to the extent so completed and all information in the possession of the Administrator regarding the development of such methodology.
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Sec. 3
WYO reimbursement methodology
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