II 

118TH CONGRESS 

1ST SESSION S. 2852 

To establish a grace period for nonpayment of premiums for flood insurance 

coverage under the national flood insurance program until the Administrator of the Federal Emergency Management Agency implements the 

option for monthly payment of such premiums, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

SEPTEMBER 19, 2023 

Mr. SCOTT of Florida introduced the following bill; which was read twice and 

referred to the Committee on Banking, Housing, and Urban Affairs 

A BILL 

To establish a grace period for nonpayment of premiums 

for flood insurance coverage under the national flood 

insurance program until the Administrator of the Federal 

Emergency Management Agency implements the option 

for monthly payment of such premiums, and for other 

purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Flood Insurance Af5 fordability Act’’. 


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•S 2852 IS

1 SEC. 2. GRACE PERIOD FOR FLOOD INSURANCE COV2 ERAGE. 

3 (a) AUTHORITY TO SUSPEND PREMIUM PAY4 MENTS.—During the period that begins on the date of en5 actment of this Act and ends 30 days after the date on 

6 which the Administrator of the Federal Emergency Man7 agement Agency first makes available to policyholders of 

8 flood insurance coverage under the national flood insur9 ance program a monthly premium payment option for 

10 flood insurance coverage in compliance with section 

11 1308(g) of the National Flood Insurance Act of 1968 (42 

12 U.S.C. 4015(g)), any new and existing policyholders to 

13 which such section 1308(g) applies shall remain covered 

14 under such a flood insurance policy notwithstanding the 

15 nonpayment of premiums to cover that period. 

16 (b) RECOUPMENT OF UNPAID PREMIUM

17 AMOUNTS.—The Administrator of the Federal Emergency 

18 Management Agency shall provide that, after the expira19 tion of the period referred to in subsection (a), there shall 

20 be assessed on each policyholder who elects to pay flood 

21 insurance coverage premiums on a monthly basis pursuant 

22 to section 1308(g) of the National Flood Insurance Act 

23 of 1968 (42 U.S.C. 4015(g)) an extra monthly fee in an 

24 amount calculated by the Administrator to recover, on a 

25 cumulative basis, the amount of premiums unpaid pursu26 ant to subsection (a). 


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•S 2852 IS

1 (c) OTHER GRACE PERIODS.—The grace period 

2 under subsection (a) for nonpayment of premiums shall 

3 be in addition to any other grace period provided for under 

4 a policy for flood insurance coverage under the national 

5 flood insurance program. 

6 SEC. 3. PROHIBITION ON FEES ASSOCIATED WITH MONTH7 LY PAYMENTS. 

8 Section 1308(g) of the National Flood Insurance Act 

9 of 1968 (42 U.S.C. 4015(g)) is amended by striking ‘‘an10 nually or monthly.’’ and inserting ‘‘annually or monthly, 

11 and may not apply any fee or additional charge with re12 spect to a policyholder who chooses to make monthly pay13 ments compared to a policyholder who chooses to make 

14 payments annually.’’. 

Æ 


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