Sec. 29. PROTECTION OF SMALL BUSINESSES, NON-PROFITS, HOUSES OF WORSHIP, AND RESIDENCES
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## SEC. 29 PROTECTION OF SMALL BUSINESSES, NON-PROFITS, HOUSES OF WORSHIP, AND RESIDENCES Section 1308 of the National Flood Insurance Act of 1968 (42 U.S.C. 4015), as amended by the preceding provisions of this Act, is further amended by adding at the end the following new subsection: > > ### “(m) Protection of Small Businesses, Non-Profits, Houses of Worship, and Residences > > > #### “(1) Report > > Not later than 18 months after the date of the enactment of this section and semiannually thereafter, the Administrator shall monitor and report to Committee on Financial Services of the House Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, the Administrator’s assessment of the impact, if any, of the rate increases required under subparagraphs
(A)and
(D)of section 1307(a)(2) and the surcharges required under section 1308A on the affordability of flood insurance for— > > > ##### “(A) > > small businesses with less than 100 employees; > > > ##### “(B) > > non-profit entities; > > > ##### “(C) > > houses of worship; and > > > ##### “(D) > > residences with a value equal to or less than 25 percent of the median home value of properties in the State in which the property is located. > > > #### “(2) Recommendations > > If the Administrator determines that the rate increases or surcharges described in paragraph
(1)are having a detrimental effect on affordability, including resulting in lapsed policies, late payments, or other criteria related to affordability as identified by the Administrator, for any of the properties identified in subparagraphs
(A)through
(D)of such paragraph, the Administrator shall, not later than 3 months after making such a determination, make such recommendations as the Administrator considers appropriate to improve affordability to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate.” > .
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Sec. 29
PROTECTION OF SMALL BUSINESSES, NON-PROFITS, HOUSES OF WORSHIP, AND RESIDENCES
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