[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1525 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 1525

   To amend the National Flood Insurance Act of 1968 to require the 
 Administrator of the Federal Emergency Management Agency to consider 
    reconstruction and improvement of flood protection systems when 
                  establishing flood insurance rates.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 16, 2009

  Ms. Matsui introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
   To amend the National Flood Insurance Act of 1968 to require the 
 Administrator of the Federal Emergency Management Agency to consider 
    reconstruction and improvement of flood protection systems when 
                  establishing flood insurance rates.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CONSIDERATION OF RECONSTRUCTION AND IMPROVEMENT OF FLOOD 
              PROTECTION SYSTEMS IN DETERMINATION OF FLOOD INSURANCE 
              RATES.

    (a) In General.--Section 1307 of the National Flood Insurance Act 
of 1968 (42 U.S.C. 4014) is amended--
            (1) in subsection (e)--
                    (A) in the first sentence, by striking 
                ``construction of a flood protection system'' and 
                inserting ``construction, reconstruction, or 
                improvement of a flood protection system (without 
                respect to the level of Federal investment or 
                participation)''; and
                    (B) in the second sentence--
                            (i) by striking ``construction of a flood 
                        protection system'' and inserting 
                        ``construction, reconstruction, or improvement 
                        of a flood protection system''; and
                            (ii) by inserting ``based on the present 
                        value of the completed system'' after ``has 
                        been expended''; and
            (2) in subsection (f)--
                    (A) in the first sentence in the matter preceding 
                paragraph (1), by inserting ``(without respect to the 
                level of Federal investment or participation)'' after 
                ``no longer does'';
                    (B) in the third sentence in the matter preceding 
                paragraph (1), by inserting ``, whether coastal or 
                riverine,'' after ``special flood hazard''; and
                    (C) in paragraph (1), by striking ``a Federal 
                agency in consultation with the local project sponsor'' 
                and inserting ``the entity or entities that own, 
                operate, maintain, or repair such system''.
    (b) Regulations.--Not later than 30 days after the date of the 
enactment of this Act, the Administrator of the Federal Emergency 
Management Agency shall promulgate regulations to carry out the 
amendments made by subsection (a).
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