Sec. 206. Multifamily mitigation
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Section 1361(d)(1) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4102(d)(1) ) is amended, in the matter preceding subparagraph (A), by inserting (including multifamily buildings in urban areas) after residential buildings . Section 1308(k) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4015(k) ) is amended by striking the Administrator shall and all that follows through the period at the end and inserting the following: “the Administrator shall— take into account the implementation of any mitigation method identified by the Administrator in the guidance issued under section 1361(d) ( 42 U.S.C. 4102(d) ); and offer a premium credit to a property owner for the implementation of any alternative mitigation method with respect to a multifamily building in an urban area, as described in paragraph
(1)of such section 1361(d). . Section 1315(a) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4022(a) ) is amended by adding at the end the following: In this paragraph, the term covered area means an area that— is an urban area; and has been identified as having special flood hazards. Notwithstanding any other provision of law, the Administrator, under paragraph (1), may require an appropriate public body, with respect to a covered area that is seeking to obtain flood insurance under this title, to adopt land use and control measures for the repair, restoration, or substantial improvement of any mid- or high-rise building that is located in the covered area. With respect to a covered area described in subparagraph (B), the Administrator shall encourage the covered area to develop, and assist the covered area in developing, a comprehensive strategy that— reduces flood damage to mid- and high-rise multifamily buildings in the covered area that— will be repaired, restored, or substantially improved; and cannot be elevated; identifies technical mitigation activities that may be applied to the buildings described in clause (i), including considerations for mechanical, electrical, and utility components, that will protect life and property; documents that the covered area has established procedures for— the implementation of performance standards; requiring evacuation plans; and developing a maintenance strategy for any mitigation activity that is applied under clause (ii); and establishes guidelines for performance standards that will— allow for a combination of partial mitigation activities, other than elevation, for areas (other than residential areas) in the covered area; and be applied to mid- and high-rise multifamily buildings in the areas described in subclause (I). . Section 1361(b) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4102(b) ) is amended by inserting , including whether a State or local government, as applicable, has enacted the requirements described in section 1327(b) after other building restrictions . Section 1308 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4015 ) is amended by adding at the end the following: With respect to a chargeable rate prescribed for a building described in section 1315(a)(3)(B), the Administrator shall ensure that the rate properly reflects the reduction in flood risk after adopting the land use and control measures described in that section, if applicable. .
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