Sec. 104. Consideration of coastal and inland locations in premium rates
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Subparagraph
(A)of section 1307(a)(1) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4014(a)(1)(A) ) is amended— in clause (i), by striking and at the end; and by adding at the end the following new clause: the differences in flood risk for properties impacted by coastal flood risk and properties impacted by riverine, or inland flood risk; and . Paragraph
(1)of section 1308(b) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4015(b)(1) ) is amended by inserting due to differences in flood risk resulting from coastal flood hazards and riverine, or inland flood hazards and after including differences in risks . Not later than the expiration of the two-year period beginning on the date of the enactment of this Act, the Administrator of the Federal Emergency Management Agency shall revise risk premium rates under the National Flood Insurance Program to implement the amendments made by this section.