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<bill bill-stage="Introduced-in-Senate" dms-id="A1" public-private="public" slc-id="S1-EHF23268-MND-V7-GV8"><metadata xmlns:dc="http://purl.org/dc/elements/1.1/"> |
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<dc:title>118 S1039 IS: National Flood Insurance Program Consultant Accountability Act of 2023</dc:title> |
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<dc:publisher>U.S. Senate</dc:publisher> |
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<dc:date>2023-03-29</dc:date> |
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<dc:format>text/xml</dc:format> |
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<dc:language>EN</dc:language> |
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<dc:rights>Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.</dc:rights> |
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<distribution-code display="yes">II</distribution-code><congress>118th CONGRESS</congress><session>1st Session</session><legis-num>S. 1039</legis-num><current-chamber>IN THE SENATE OF THE UNITED STATES</current-chamber><action><action-date date="20230329">March 29, 2023</action-date><action-desc><sponsor name-id="S389">Mr. Kennedy</sponsor> (for himself and <cosponsor name-id="S306">Mr. Menendez</cosponsor>) introduced the following bill; which was read twice and referred to the <committee-name committee-id="SSBK00">Committee on Banking, Housing, and Urban Affairs</committee-name></action-desc></action><legis-type>A BILL</legis-type><official-title>To authorize the Administrator of the Federal Emergency Management Agency to terminate certain contracts on the basis of detrimental conduct to the National Flood Insurance Program, and for other purposes.</official-title></form><legis-body display-enacting-clause="yes-display-enacting-clause"><section section-type="section-one" id="S1"><enum>1.</enum><header>Short title</header><text display-inline="no-display-inline">This Act may be cited as the <quote><short-title>National Flood Insurance Program Consultant Accountability Act of 2023</short-title></quote>.</text></section><section id="id3B47BD50BCAA48F8A00DEC1291A9E5AA"><enum>2.</enum><header>Termination of certain contracts under the National Flood Insurance Program</header><subsection id="id8DF95A6F6F5D44FE9C0D8BD338AE7771"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Part C of chapter II of the National Flood Insurance Act of 1968 (<external-xref legal-doc="usc" parsable-cite="usc/42/4081">42 U.S.C. 4081 et seq.</external-xref>) is amended by adding at the end the following:</text><quoted-block style="OLC" display-inline="no-display-inline" id="id7722F1B004A341FEB030AD8231F03F3E"><section id="idB6AC1634661746E8A779EFCF5845FD39"><enum>1349.</enum><header>Termination of contracts</header><subsection id="idC61426A1F0B648C0A3E5BDD1F4E06423"><enum>(a)</enum><header>Definitions</header><text>In this section—</text><paragraph id="idCA3C55F45C1E4EB4A480DCC0A6EBD6F4"><enum>(1)</enum><text>the term <term>covered entity</term> means any attorney, law firm, consultant, or third-party company that provides services to a Write Your Own company; and</text></paragraph><paragraph id="idD53112732C7648A699F94EFB5460C357"><enum>(2)</enum><text>the term <term>Write Your Own company</term> means a company participating in the cooperative undertaking between the insurance industry and the Federal Insurance and Mitigation Administration that allows participating property and casualty insurance companies to write and service standard flood insurance policies.</text></paragraph></subsection><subsection id="idE450C21E340344FC95F0237C34FBFC34"><enum>(b)</enum><header>Termination</header><paragraph id="id25CFD51C96054AB39ABED60BF20F2AE7"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">Notwithstanding any other provision of law, the Administrator may terminate a contract or other agreement between a covered entity and a Write Your Own company if the Administrator—</text><subparagraph id="idC569BE9D2C064C349C53981D77C0AEE2"><enum>(A)</enum><text display-inline="yes-display-inline">determines that the covered entity has engaged in conduct that is detrimental to the flood insurance program authorized under chapter I; and</text></subparagraph><subparagraph id="idC5E36EF5A767451BB5EACD16407DDBA1"><enum>(B)</enum><text display-inline="yes-display-inline">not later than 14 days before terminating the contract or other agreement, provides notice to the covered entity of the termination.</text></subparagraph></paragraph><paragraph id="id75DD85C1AFEA4AD088B813C65A6B2901"><enum>(2)</enum><header>Appeal</header><text display-inline="yes-display-inline">The Administrator shall establish a process for a covered entity to appeal a termination of a contract or other agreement under paragraph (1).</text></paragraph><paragraph id="idBE77091532564148AF0D2F1EF41F5B3C"><enum>(3)</enum><header>Early termination payouts</header><text display-inline="yes-display-inline">The Administrator or a Write Your Own company is not required to make any early termination payout to a covered entity with respect to a contract or agreement with the Write Your Own company that the Administrator terminates under paragraph (1).</text></paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block></subsection><subsection id="id531d98176ca745af99ef4c2cb91fe95e"><enum>(b)</enum><header>Effective date; applicability</header><text>The amendment made by subsection (a) shall—</text><paragraph id="id625d73be7fa64c1ba6ee09d6ce3cc198"><enum>(1)</enum><text>take effect on the date of enactment of this Act; and</text></paragraph><paragraph id="id3aca8f8d66164d22b4f00e272766da60"><enum>(2)</enum><text>apply to any contract or other agreement between a covered entity and a Write Your Own company (as those terms are defined in section 1349(a) of the National Flood Insurance Act of 1968, as added by subsection (a)) entered into on or after the date of enactment of this Act.</text></paragraph></subsection></section></legis-body></bill> |
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