Sec. 504. Designation and treatment of multiple-loss properties

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Section 1370 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4121 ) is amended— in subsection (a)— by striking paragraph (7); and by redesignating paragraphs

(8)through

(15)as paragraphs

(7)through (14), respectively; and by adding at the end the following new subsection: As used in this title: The term multiple-loss property means any property that is a repetitive-loss property, a severe repetitive-loss property, or an extreme repetitive-loss property. The term repetitive-loss property means a structure that has incurred flood damage for which two or more separate claims payments of any amount have been made under flood insurance coverage under this title. The term severe repetitive-loss property means a structure that has incurred flood damage for which— 4 or more separate claims payments have been made under flood insurance coverage under this title, with the amount of each such claim exceeding $5,000, and with the cumulative amount of such claims payments exceeding $20,000; or at least 2 separate claims payments have been made under flood insurance coverage under this title, with the cumulative amount of such claims payments exceeding the value of the structure. The term extreme repetitive-loss property means a structure that has incurred flood damage for which at least 2 separate claims have been made under flood insurance coverage under this title, with the cumulative amount of such claims payments exceeding 150 percent of the maximum coverage amount available for the structure. The Administrator shall not consider claims that occurred before a structure was made compliant with State and local floodplain management requirements for purposes of determining a structure’s status as a multiple-loss property. . Section 1308 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4015 ), as amended by the preceding provisions of this Act, is further amended by adding at the end the following new subsection: Except as provided in paragraph (2), the Administrator shall rate a multiple-loss property that is charged a risk premium rate estimated under section 1307(a)(1) ( 42 U.S.C. 4014(a)(1) ) based on the current risk of flood reflected in the flood insurance rate map in effect at the time of rating. For policies for flood insurance under this title in force on the date of the enactment of this Act for properties described in paragraph (1)— notwithstanding subsection

(e)of this section, the Administrator shall increase risk premium rates by not less than 15 percent each year until such rates comply with paragraph

(1)of this subsection; and any rate increases required by paragraph

(1)shall commence following a claim payment for flood loss under coverage made available this title that occurred after the date of enactment of this Act. . Section 1307(g)(2) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4014(g)(2) ) is amended by striking subparagraph

(B)and inserting the following new subparagraph: in connection with a multiple-loss property. . Section 1307 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4014 ) is amended— in subsection (a)(2)— by striking subparagraph

(C)and inserting the following new subparagraph: any extreme repetitive-loss property; ; in subparagraph (D), by striking or ; in subparagraph (E)— in clause (i), by striking fair ; and in clause (ii)— by striking fair ; and by striking and and inserting or ; and by adding at the end the following new subparagraph: any repetitive-loss property that has received a claim payment for flood loss under coverage made available this title that occurred after the date of enactment of this Act; and ; and by striking subsection (h). Subsection

(e)of section 1308 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4015(e) ) is amended— in paragraph (3), by striking and at the end; in paragraph (4), by striking described under paragraph (3). and inserting estimated under section 1307(a)(1); and ; and by adding at the end the following new paragraph: the chargeable risk premium rates for flood insurance under this title for any properties described in subparagraph

(F)of section 1307(a)(2) shall be increased by not less than 15 percent each year, until the average risk premium rate for such properties is equal to the average of the risk premium rates for properties estimated under section 1307(a)(1). . The National Flood Insurance Act of 1968 is amended— by transferring subsection

(b)of section 1312 ( 42 U.S.C. 4019(b) ) to 1306 ( 42 U.S.C. 4013 ), inserting such subsection at the end of such section, and redesignating such subsection as subsection (e); and in section 1312 ( 42 U.S.C. 4019 ), by redesignating subsection

(c)as subsection (b). Subsection

(e)of section 1306 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4013(e) ), as so added and redesignated by paragraph

(1)of this subsection, is amended adding at the end the following new paragraph: Notwithstanding paragraph

(1)or (2), the minimum annual deductible for damage to any severe repetitive-loss property or extreme repetitive-loss property shall be not less than $5,000. . Beginning not later than the expiration of the 180-day period beginning on the date of the enactment of this Act, the Administrator of the Federal Emergency Management Agency shall undertake efforts to validate the reasonable accuracy of claim history data maintained pursuant to the National Flood Insurance Act of 1968 ( 42 U.S.C. 4001 et seq.). Paragraph

(1)of section 1304(b) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4011(b)(1) ) is amended by striking repetitive loss structures and inserting multiple-loss properties . The National Flood Insurance Act of 1968 is amended by inserting after section 1304 ( 42 U.S.C. 4011 ) the following new section: The Administrator may provide flood insurance coverage under this title for a multiple-loss property only if the owner of the property submits to the Administrator such data and information necessary to determine such property’s current risk of flood, as determined by the Administrator, at the time of application for or renewal of such coverage. Except as provided pursuant to paragraph (2), the Administrator may not make flood insurance coverage available under this title for any extreme repetitive-loss property for which a claim payment for flood loss was made under coverage made available under this title that occurred after the date of enactment of the 21st Century Flood Reform Act if the property owner refuses an offer of mitigation for the property under section 1366(a)(2) ( 42 U.S.C. 4104c(a)(2) ). The Director shall develop guidance to provide appropriate exceptions to the prohibition under paragraph

(1)and to allow for appeals to such prohibition. . Section 1304A of the National Flood Insurance Act of 1968, as added by paragraph

(1)of this subsection, shall apply beginning upon the expiration of the 12-month period beginning on the date of the enactment of this Act. Subsection

(i)of section 1308 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4015(i) ) is amended— by striking the subsection designation and all that follows through Notwithstanding and inserting the following: Except as provided in paragraph

(2)and notwithstanding ; by redesignating paragraphs

(1)and

(2)as subparagraphs

(A)and (B), respectively, and moving the left margins of such subparagraphs, as so redesignated, and the matter following subparagraph (B), 2 ems to the right; and by adding at the end the following new paragraph: Paragraph

(1)shall not apply to multiple-loss properties. . Subsection

(l)of section 1308 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4015(l) ), as amended by the preceding provisions of this Act, is further amended by adding at the end the following new paragraph: Pursuant to paragraph (1), the Administrator shall clearly communicate to all policyholders for multiple-loss properties the effect on the premium rates charged for such a property of filing any further claims under a flood insurance policy with respect to that property . Section 1366 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4104c ) is amended— in subsection (a)— in the matter preceding paragraph (1), by inserting after the period at the end of the first sentence the following: Priority under the program shall be given to providing assistance with respect to multiple-loss properties. ; in paragraph (1), by inserting and after the semicolon at the end; and by striking paragraphs

(2)and

(3)and inserting the following: to property owners, in coordination with the State and community, in the form of direct grants under this section for carrying out mitigation activities that reduce flood damage to extreme repetitive-loss properties. The Administrator shall take such actions as may be necessary to ensure that grants under this subsection are provided in a manner that is consistent with the delivery of coverage for increased cost of compliance provided under section 1304(b). ; in subsection (c)(2)(A)(ii), by striking severe repetitive loss structures and inserting multiple-loss properties ; in subsection (d)— in paragraph (1)— by striking and inserting Severe repetitive loss structures ; and Extreme repetitive-loss properties by striking severe repetitive loss structures and inserting extreme repetitive-loss properties; ; in paragraph (2)— by striking and inserting Repetitive loss structures ; Severe repetitive-loss properties by striking repetitive loss structures and inserting severe repetitive-loss properties ; and by striking 90 percent and inserting 100 percent ; by redesignating paragraph

(3)as paragraph (4); and by inserting after paragraph

(2)the following new paragraph: In the case of mitigation activities to repetitive-loss properties, in an amount up to 100 percent of all eligible costs. ; in subsection (h)— by striking paragraphs

(2)and (3); by striking the subsection designation and all that follows through shall apply: ; and in paragraph (1)— by striking and inserting Community ; Definition of community by striking The and inserting For purposes of this section, the ; by redesignating such paragraph as subsection (j); in subparagraph (B), by striking subparagraph

(A)and inserting paragraph

(1); by redesignating subparagraphs

(A)and

(B)as paragraphs

(1)and (2), respectively; and by moving the left margins of subsection

(h)and paragraphs

(1)and (2), all as so redesignated, two ems to the left; and by inserting after subsection

(g)the following new subsections: Notwithstanding any provision of law, any funds appropriated for assistance under this title may be transferred to the National Flood Insurance Fund established under section 1310 ( 42 U.S.C. 4017 ) for the payment of claims to enable the Administrator to deliver grants under subsection (a)(2) of this section to align with the delivery of coverage for increased cost of compliance for extreme repetitive-loss properties. There is authorized to be appropriated $225,000,000 for each fiscal year for flood mitigation assistance grants. Amounts appropriated pursuant to this subsection for any fiscal year may remain available for obligation until expended. .

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