[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2995 Introduced in House (IH)]

<DOC>






117th CONGRESS
  1st Session
                                H. R. 2995

 To require a report regarding the potential impacts of any changes to 
the risk-rating methodology for the National Flood Insurance Program of 
the Federal Emergency Management Agency before implementation, and for 
                            other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 4, 2021

 Miss Rice of New York (for herself and Mr. Garbarino) introduced the 
   following bill; which was referred to the Committee on Financial 
                                Services

_______________________________________________________________________

                                 A BILL


 
 To require a report regarding the potential impacts of any changes to 
the risk-rating methodology for the National Flood Insurance Program of 
the Federal Emergency Management Agency before implementation, 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 ``National Flood Insurance Program 
Reporting on Impact to Seaboards and Counties Act of 2021'' or the 
``NFIP RISC Act of 2021''.

SEC. 2. CONGRESSIONAL FINDINGS.

    The Congress finds that--
            (1) 30 percent of the population of the United States and 
        50 percent of the gross domestic product of the United States 
        is located on the Atlantic coast or the Gulf of Mexico coast, 
        areas frequently hit by coastal storms and hurricanes;
            (2) 90 percent of all natural disasters involve flooding;
            (3) all 50 States have experienced floods and flash floods 
        between 2015 and 2020;
            (4) in most States, enrollment in the National Flood 
        Insurance Program has decreased between 15 and 35 percent since 
        2011;
            (5) some of the poorest, most disenfranchised populations 
        live in floodplains because the land is cheaper and moving out 
        of such areas is not a feasible solution; and
            (6) such communities are significantly impacted by floods 
        and other extreme weather events and are often less equipped to 
        rebuild or relocate afterwards.

SEC. 3. REPORT ON IMPACTS OF CHANGES TO FLOOD INSURANCE METHODOLOGY.

    Not later than 6 months before implementing any chargeable premium 
rate for flood insurance coverage pursuant to section 1308 of the 
National Flood Insurance Act of 1968 that is related to a change in 
flood-risk assessment methodology, the Administrator of the Federal 
Emergency Management Agency shall report on the website of the Agency 
an analysis of the expected impacts of such resulting new rates on--
            (1) participation of communities in the National Flood 
        Insurance Program;
            (2) chargeable premium rates for flood insurance coverage 
        under such Program and estimated rates for such coverage 
        pursuant to section 1307 of the National Flood Insurance Act of 
        1968 (42 U.S.C. 4014);
            (3) chargeable premiums for various categories of 
        properties, including properties paying less than risk base 
        rate and properties that are low income, very low income, and 
        extremely low income, as defined by the Federal Emergency 
        Management report to the Congress entitled ``An Affordability 
        Framework for the National Flood Insurance Program'', released 
        April 17, 2018 (Release Number HQ-18-035);
            (4) National Flood Insurance Program policyholders, 
        including annual premium increases and decreases;
            (5) the extent to which the number of flood insurance 
        claims on a property will influence the property's rating;
            (6) the finances of the National Flood Insurance Program;
            (7) the community rating system and flood hazard area 
        mapping, including the funding for such systems, public 
        communications of any such changes, and floodplain management 
        procedures;
            (8) flood mitigation programs, including changes to flood 
        mitigation grant programs resulting from a change in rating 
        methodology;
            (9) replacement cost value, due to fluctuations in premium 
        prices; and
            (10) the results and conclusions of the report specified in 
        paragraph (3) of this section.

SEC. 4. PANDEMIC PROTECTION.

    The Administrator of the Federal Emergency Management Agency may 
not implement any changes to the flood-risk assessment methodology for 
the National Flood Insurance Program--
            (1) during the effective period of the emergency declared 
        by the President on March 13, 2020, pursuant to section 501(b) 
        of the Robert T. Stafford Disaster Relief and Emergency 
        Assistance Act (42 U.S.C. 5121(b)), relating to the Coronavirus 
        Disease 2019 (COVID-19); or
            (2) during the 6-month period that begins upon the 
        termination of such effective period.
                                 <all>