An amendment numbered 2 printed in House Report 112-138 to allow for a possible fourth and five year suspension of the mandatory purchase for certain communities that are making more than adequate progress in their construction of their flood protection systems.
What it does: Inserts new text on page 7, line 21
Rep. Aaron Schock (R-IL)Description
Amendment to allow for a possible fourth and fifth suspension of the mandatory purchase for certain communities that are making adequate progress in construction of their flood protection systems.
What it changes
1 change to H.R. 1309
We couldn't read part of this amendment. That part is shown as written below.
Inserts new text on page 7, line 21
InsertsPrinted pageInserted: (5) Additional extension for communities making more than adequate progress on flood protection system.--
Inserted: (A) Extension.--
Inserted: (i) Authority.--Except as provided in subparagraph (B), in the case of an eligible area for which the Administrator has, pursuant to paragraph (4), extended the period of effectiveness of the finding under paragraph (1) for the area, upon a request submitted by a local government authority having jurisdiction over any portion of the eligible area, if the Administrator finds that more than adequate progress has been made on the construction of a flood protection system for such area, as determined in accordance with the last sentence of section 1307(e) of the National Flood Insurance Act of 1968 (42 U.S.C. 4014(e)), the Administrator may, in the discretion of the Administrator, further extend the period during which the finding under paragraph (1) shall be effective for such area for an additional 12 months.
Inserted: (ii) Limit.--For any eligible area, the cumulative number of extensions under this subparagraph may not exceed 2.
Inserted: (B) Exclusion for new mortgages.--
Inserted: (i) Exclusion.--Any extension under subparagraph (A) of this paragraph of a finding under paragraph (1) shall not be effective with respect to any excluded property after the origination, increase, extension, or renewal of the loan referred to in clause (ii)(II) for the property.
Inserted: (ii) Excluded properties.--For purposes of this subparagraph, the term 'excluded property' means any improved real estate or mobile home--
Inserted: (I) that is located in an eligible area; and
Inserted: (II) for which, during the period that any extension under subparagraph (A) of this paragraph of a finding under paragraph (1) is otherwise in effect for the eligible area in which such property is located--
Inserted: (aa) a loan that is secured by the property is originated; or
Inserted: (bb) any existing loan that is secured by the property is increased, extended, or renewed.
Original wording
Page 7, after line 21 insert the following:
Shown as written
Page 7, strike the dash in line 3 and all that follows through line 10 and insert “designation of the area as having special flood hazards in a timely manner under section 1363.”.
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
Page 7, strike the dash in line 3 and all that follows through line 10 and insert “designation of the area as having special flood hazards in a timely manner under section 1363.”.
Page 7, after line 21 insert the following:
“(5) Additional extension for communities making more than adequate progress on flood protection system.--
“(A) Extension.--
“(i) Authority.--Except as provided in subparagraph (B), in the case of an eligible area for which the Administrator has, pursuant to paragraph (4), extended the period of effectiveness of the finding under paragraph (1) for the area, upon a request submitted by a local government authority having jurisdiction over any portion of the eligible area, if the Administrator finds that more than adequate progress has been made on the construction of a flood protection system for such area, as determined in accordance with the last sentence of section 1307(e) of the National Flood Insurance Act of 1968 (42 U.S.C. 4014(e)), the Administrator may, in the discretion of the Administrator, further extend the period during which the finding under paragraph (1) shall be effective for such area for an additional 12 months.
“(ii) Limit.--For any eligible area, the cumulative number of extensions under this subparagraph may not exceed 2.
“(B) Exclusion for new mortgages.--
“(i) Exclusion.--Any extension under subparagraph (A) of this paragraph of a finding under paragraph (1) shall not be effective with respect to any excluded property after the origination, increase, extension, or renewal of the loan referred to in clause (ii)(II) for the property.
“(ii) Excluded properties.--For purposes of this subparagraph, the term ‘excluded property' means any improved real estate or mobile home--
“(I) that is located in an eligible area; and
“(II) for which, during the period that any extension under subparagraph (A) of this paragraph of a finding under paragraph (1) is otherwise in effect for the eligible area in which such property is located--
“(aa) a loan that is secured by the property is originated; or
“(bb) any existing loan that is secured by the property is increased, extended, or renewed.”.
Legislative Activity
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House amendment offered
July 12, 2011
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House amendment offered
July 12, 2011
House amendment offered/reported by: Amendment (A002) offered by Mr. Schock.(consideration: CR H4899-4900; text: CR H4899)
July 12, 2011 • 3:13 PM
House amendment agreed to: On agreeing to the Schock amendment (A002) Agreed to by voice vote.
July 12, 2011 • 3:19 PM
Amendment agreed to Committee of the Whole
July 12, 2011 • 3:19 PM
Amendment (A002) offered by Mr. Schock. (consideration: CR H4899-4900; text: CR H4899)
July 12, 2011 • 3:13 PM
On agreeing to the Schock amendment (A002) Agreed to by voice vote.
July 12, 2011 • 3:19 PM