S.Amdt. 2689

SA 2689. Mrs. GILLIBRAND submitted an amendment intended to be proposed by her to the bill S. 1846, to delay the implementation of certain provisions of the Biggert-Waters Flood Insurance Reform Act of 2012, and for other purposes; which was ordered to lie on the table; as follows:

At the end of title I, add the following:

SEC. 1__. FLOOD MITIGATION METHODS FOR URBAN BUILDINGS.

(a) In General.--Not later than 1 year after the date of enactment of this Act, the Administrator shall issue guidelines for property owners that--

(1) provide alternative methods of mitigation, other than building elevation, to reduce flood risk to urban residential buildings that cannot be elevated due to their structural characteristics, including--

(A) types of building materials; and

(B) types of floodproofing; and

(2) inform property owners about how the implementation of mitigation methods described in paragraph (1) may affect risk premium rates for flood insurance coverage under the National Flood Insurance Program.

(b) Calculation of Risk Premium Rates.--In calculating the risk premium rate charged for flood insurance for a property under section 1308 of the National Flood Insurance Act of 1968 (42 U.S.C. 4015), the Administrator shall take into account the implementation of any mitigation method identified by the Administrator in the guidance issued under subsection (a) of this section.