Sec. 100236. STUDY OF PARTICIPATION AND AFFORDABILITY FOR CERTAIN POLICYHOLDERS
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## SEC. 100236 STUDY OF PARTICIPATION AND AFFORDABILITY FOR CERTAIN POLICYHOLDERS ###
(a)FEMA Study The Administrator shall conduct a study of— ####
(1)methods to encourage and maintain participation in the National Flood Insurance Program; ####
(2)methods to educate consumers about the National Flood Insurance Program and the flood risk associated with their property; ####
(3)methods for establishing an affordability framework for the National Flood Insurance Program, including methods to aid individuals to afford risk-based premiums under the National Flood Insurance Program through targeted assistance rather than generally subsidized rates, including means-tested vouchers; ####
(4)the implications for the National Flood Insurance Program and the Federal budget of using each such method; ####
(5)options for maintaining affordability if annual premiums for flood insurance coverage were to increase to an amount greater than 2 percent of the liability coverage amount under the policy, including options for enhanced mitigation assistance and means-tested assistance; ####
(6)the effects that the establishment of catastrophe savings accounts would have regarding long-term affordability of flood insurance coverage; and ####
(7)options for modifying the surcharge under 1308A, including based on homeowner income, property value or risk of loss. ###
(b)National Academy of Sciences Economic Analysis To inform the Administrator in the conduct of the study under subsection (a), the Administrator shall enter into a contract under which the National Academy of Sciences, in consultation with the Comptroller General of the United States, shall conduct and submit to the Administrator an economic analysis of the costs and benefits to the Federal Government of a flood insurance program with full risk-based premiums, combined with means-tested Federal assistance to aid individuals who cannot afford coverage, through an insurance voucher program. The analysis shall compare the costs of a program of risk-based rates and means-tested assistance to the current system of subsidized flood insurance rates and federally funded disaster relief for people without coverage. ###
(c)Report Not later than 270 days 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 of the study and analysis under this section. ###
(d)Funding Notwithstanding section 1310 of the National Flood Insurance Act of 1968 (42 U.S.C. 4017), there shall be available to the Administrator from the National Flood Insurance Fund, of amounts not otherwise obligated, not more than $2,500,000 to carry out this section.
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Sec. 100236
STUDY OF PARTICIPATION AND AFFORDABILITY FOR CERTAIN POLICYHOLDERS
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