[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2918 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 2918

  To ensure fairness in premium rates for coverage under the National 
Flood Insurance Program for residences and business properties, and for 
                            other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                             June 25, 2015

    Mr. Curbelo of Florida (for himself and Mr. Murphy of Florida) 
 introduced the following bill; which was referred to the Committee on 
                           Financial Services

_______________________________________________________________________

                                 A BILL


 
  To ensure fairness in premium rates for coverage under the National 
Flood Insurance Program for residences and business properties, and for 
                            other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Flood Insurance Fairness Act of 
2015''.

SEC. 2. REPEAL OF CERTAIN RATE INCREASES.

    (a) Repeal of Prohibition on Subsidized Rates.--Paragraph (2) of 
section 1307(a) of the National Flood Insurance Act of 1968 (42 U.S.C. 
4014) is amended--
            (1) by striking subparagraph (A);
            (2) in subparagraph (C), by inserting ``or'' after the 
        semicolon at the end;
            (3) by striking subparagraph (D); and
            (4) by redesignating subparagraphs (B), (C), and (E) as 
        subparagraphs (A), (B), and (C) respectively.
    (b) Conforming Amendments Relating to Limitation on Annual Rate 
Increases.--Paragraph (4) of section 1308(e) of the National Flood 
Insurance Act of 1968 (42 U.S.C. 4015(e)(4)), as amended by section 5 
of Public Law 113-89, is amended by striking ``(A) through (E)'' and 
inserting ``(A) through (C)''.
    (c) Implementation.--
            (1) Effective date.--The Administrator of the Federal 
        Emergency Management Agency (in this subsection referred to as 
        the ``Administrator'') shall make available such rate tables as 
        necessary to implement the amendments made by subsections (a) 
        and (b) effective on the date of the enactment of this Act.
            (2) Implementation, coordination, and guidance.--
                    (A) Inclusion of write-your-own companies.--To 
                ensure the participation of Write Your Own companies 
                (as such term is defined in section 100202(a) of the 
                Biggert-Waters Flood Insurance Reform Act of 2012 (42 
                U.S.C. 4004(a))), the Administrator and the Federal 
                Emergency Management Agency shall consult with Write 
                Your Own companies throughout the development of 
                guidance and rate tables necessary to implement the 
                amendments made by subsections (a) and (b).
                    (B) Implementation and guidance.--The Administrator 
                shall issue final guidance and rate tables necessary to 
                implement the amendments made by subsections (a) and 
                (b) not later than eight months following the date of 
                the enactment of this Act. Write Your Own companies, in 
                coordination with the Federal Emergency Management 
                Agency, shall have not less than six months but not 
                more than eight months following the issuance of such 
                final guidance and rate tables to implement the changes 
                required by such final guidance and rate tables.
                                 <all>