Sec. 406. Leveraging risk transfer opportunities for a sound financial framework
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Subsection
(e)of section 1345 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4081(e) ) is amended— by striking
(e)and inserting the following: Risk transfer .—The Administrator The Administrator ; and by adding at the end the following: On an annual basis, the Administrator shall evaluate ceding a portion of the risk of the flood insurance program under this title to the private reinsurance or capital markets, or any combination thereof, if the Administrator determines— the rates and terms are reasonable and appropriate; and doing so would further the development and maintenance of a sound financial framework for the National Flood Insurance Program. . The amendments made by subsection
(a)shall become effective upon the expiration of the 18-month period that begins upon the date of the enactment of this Act.
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Sec. 406
Leveraging risk transfer opportunities for a sound financial framework
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