S.Amdt. 891

1. Adds TITLE XII--NATIONAL FLOOD INSURANCE PROGRAM at the end of the bill

   Adds a title

   In S. 601 · Reported to Senate

   (e) Authorization of Appropriations.--There is authorized to be appropriated to carry out this section $25,000,000 for each of fiscal years 2014 through 2018.

   Inserted: TITLE XII--NATIONAL FLOOD INSURANCE PROGRAM

   Inserted: SEC. 12001. STUDIES OF VOLUNTARY COMMUNITY-BASED FLOOD INSURANCE OPTIONS.

   Inserted: (a) Study.--

   Inserted: (1) Study required.--The Administrator of the Federal Emergency Management Agency (referred to in this section as the "Administrator") shall conduct a study to assess options, methods, and strategies for making available voluntary community-based flood insurance policies through the National Flood Insurance Program.

   Inserted: (2) Considerations.--The study conducted under paragraph (1) shall--

   Inserted: (A) take into consideration and analyze how voluntary community-based flood insurance policies--

   Inserted: (i) would affect communities having varying economic bases, geographic locations, flood hazard characteristics or classifications, and flood management approaches; and

   Inserted: (ii) could satisfy the applicable requirements under section 102 of the Flood Disaster Protection Act of 1973 (42 U.S.C. 4012a); and

   Inserted: (B) evaluate the advisability of making available voluntary community-based flood insurance policies to communities, subdivisions of communities, and areas of residual risk.

   Inserted: (3) Consultation.--In conducting the study required under paragraph (1), the Administrator may consult with the Comptroller General of the United States, as the Administrator determines is appropriate.

   Inserted: (b) Report by the Administrator.--

   Inserted: (1) Report required.--Not later than 18 months 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 and conclusions of the study conducted under subsection (a).

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   Inserted: (2) Contents.--The report submitted under paragraph (1) shall include recommendations for--

   Inserted: (A) the best manner to incorporate voluntary community-based flood insurance policies into the National Flood Insurance Program; and

   Inserted: (B) a strategy to implement voluntary community-based flood insurance policies that would encourage communities to undertake flood mitigation activities, including the construction, reconstruction, or improvement of levees, dams, or other flood control structures.

   Inserted: (c) Report by Comptroller General.--Not later than 6 months after the date on which the Administrator submits the report required under subsection (b), the Comptroller General of the United States shall--

   Inserted: (1) review the report submitted by the Administrator; and

   Inserted: (2) 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--

   Inserted: (A) an analysis of the report submitted by the Administrator;

   Inserted: (B) any comments or recommendations of the Comptroller General relating to the report submitted by the Administrator; and

   Inserted: (C) any other recommendations of the Comptroller General relating to community-based flood insurance policies.

   Inserted: SEC. 12002. AMENDMENTS TO NATIONAL FLOOD INSURANCE ACT OF 1968.

   Inserted: (a) Adequate Progress on Construction of Flood Protection Systems.--Section 1307(e) of the National Flood Insurance Act of 1968 (42 U.S.C. 4014(e)) is amended by inserting after the second sentence the following: "Notwithstanding any other provision of law, in determining whether a community has made adequate progress on the construction, reconstruction, or improvement of a flood protection system, the Administrator shall not consider the level of Federal funding of or participation in the construction, reconstruction, or improvement.".

   Inserted: (b) Communities Restoring Disaccredited Flood Protection Systems.--Section 1307(f) of the National Flood Insurance Act of 1968 (42 U.S.C. 4014(f)) is amended in the first sentence by striking "no longer does so." and inserting the following: "no longer does so, and shall apply without regard to the level of Federal funding of or participation in the construction, reconstruction, or improvement of the flood protection system."

   Inserted: SEC. 12003. AFFORDABILITY STUDY.

   Inserted: Section 100236 of the Biggert-Waters Flood Insurance Reform Act of 2012 (Public Law 112-141; 126 Stat. 957) is amended--

   Inserted: (1) in subsection (c), by striking "Not" and inserting the following: "Subject to subsection (e), not";

   Inserted: (2) in subsection (d)--

   Inserted: (A) by striking "Notwithstanding" and inserting the following:

   Inserted: "(1) National flood insurance fund.--Notwithstanding"; and

   Inserted: (B) by adding at the end the following:

   Inserted: "(2) Other funding sources.--To carry out this section, in addition to the amount made available under paragraph (1), the Administrator may use any other amounts that are available to the Administrator."; and

   Inserted: (3) by adding at the end the following:

   Inserted: "(e) Alternative.--If the Administrator determines that the report required under subsection (c) cannot be submitted by the date specified under subsection (c)--

   Inserted: "(1) the Administrator shall notify, not later than 60 days after the date of enactment of this subsection, the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives of an alternative method of gathering the information required under this section;

   Inserted: "(2) the Administrator shall submit, not later than 180 days after the Administrator submits the notification required under paragraph (1), to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives the information gathered using the alternative method described in paragraph (1); and

   Inserted: "(3) upon the submission of information required under paragraph (2), the requirement under subsection (c) shall be deemed satisfied.".

   Original wording

   At the end, add the following:

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As printed