Sec. 105. Monthly installment payment of premiums
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Subsection
(g)of section 1308 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4015(g) ) is amended— by striking the subsection designation and all that follows through With respect and inserting the following: With respect ; and by adding at the end the following new paragraph: Until such time as the Administrator promulgates regulations implementing paragraph
(1)of this subsection, the Administrator may adopt policies and procedures, notwithstanding any other provisions of law and in alignment and consistent with existing industry escrow and servicing standards, necessary to implement such paragraph without undergoing notice and comment rulemaking and without conducting regulatory analyses otherwise required by statute, regulation, or Executive order. The Administrator may charge policyholders choosing to pay premiums in monthly installments a fee not to exceed $50 annually. The Administrator may initially implement paragraph
(1)of this subsection as a pilot program that provides for a gradual phase-in of implementation. .
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Sec. 105
Monthly installment payment of premiums
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