Sec. 304. Availability of NFIP claims data
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The Administrator shall study the feasibility of selling or licensing the use of historical structure-specific National Flood Insurance Program claims data (referred to in this section as covered claims data ) to nongovernmental entities. In conducting the study required under paragraph (1), the Administrator shall, at a minimum— investigate 1 or more methods of providing the most specific covered claims data possible while reasonably protecting policyholder privacy; review existing means, as of the date of enactment of this Act, by which the Federal Government and nongovernmental entities provide leases or licenses to private persons, and the various regulations, terms, conditions, and guidance employed; identify potential uses for covered claims data and any known risks concerning those uses, including the risk that private insurance companies will use the data to issue flood insurance policies with respect to properties that have the lowest level of flood risk, which would require the National Flood Insurance Program to issue those policies with respect to properties with higher levels of flood risk; identify mechanisms for determining the likely market value for access to covered claims data; consider whether selling or licensing the use of covered claims data, as described in paragraph (1), would be in compliance with section 552a of title 5, United States Code (commonly known as the Privacy Act of 1974 ); review the costs of researching, developing, and producing previous releases of covered claims data and identify if releasing this data has benefitted the National Flood Insurance Program in a tangible way that benefits policyholders; and recommend actions the Administrator could take, if any, to prevent unintended consequences associated with the sale or licensing for private insurance purposes covered claims data.
Not later than 1 year after the date of enactment of this Act, the Administrator shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report that contains the results and conclusions of the study conducted under subsection (a), which shall include an analysis of any recommendations made by the study.