An amendment numbered 9 printed in House Report 109-530 to direct GAO to conduct a study on potential methods, practices and incentives that would increase the degree to which low-income property owners living in high-risk locations participate in the national flood insurance program. This study should be reported to Congress no later than 1 year after enactment of this legislation.

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   Inserted: (e) GAO Study of Low-Income Discount.--

   Inserted: (1) In general.--The Comptroller General of the United States shall conduct a study of potential methods, practices, and incentives that would increase the extent to which low-income families (as such term is defined in section 3(b) of the United States Housing Act of 1937 (42 U.S.C. 1437a(b))) that own residential properties located within areas having special flood hazards purchase flood insurance coverage under the national flood insurance program. In conducting the study the Comptroller General shall analyze--

   Inserted: (A) the feasibility and effectiveness of providing such coverage to low-income families at rates that are discounted from the rates at which such coverage is otherwise provided, the amounts by which such rates should be discounted to ensure that coverage is affordable to such families and to encourage purchase of coverage by such families, and the effects of such discounts on the national flood insurance program; and

   Inserted: (B) the extent to which residential properties occupied by low-income families would be affected by expanding the mandatory purchase requirements of the national flood insurance program to the areas included in the national flood insurance program rate maps pursuant to section 1360(k) of the National Flood Insurance Act of 1968 (42 U.S.C. 4101(k)), as amended by subsection (a) of this section.

   Inserted: (2) Report.--The Comptroller General shall submit to the Congress a report setting forth the conclusions of the study under this subsection not later than 12 months after the date of the enactment of this Act.

   Original wording

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As printed