I 

113TH CONGRESS 

1ST SESSION H. R. 960 

To amend the National Flood Insurance Act of 1968 to provide relief from 

increased flood insurance premium rates for homes in disaster areas. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 5, 2013 

Mr. GRIMM (for himself, Mr. KING of New York, Mrs. MCCARTHY of New 

York, and Mr. MEEKS) 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 

provide relief from increased flood insurance premium 

rates for homes in disaster areas. 

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 Victim Premium 

5 Relief Act of 2013’’. 

6 SEC. 2. PHASE-IN OF NEW PREMIUM RATES FOR DISASTER 

7 AREAS. 

8 Subsection (h) of section 1308 of the National Flood 

9 Insurance Act of 1968 (42 U.S.C. 4015(h)) is amended— 


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1 (1) in the second sentence, by striking ‘‘Any’’ 

2 and inserting ‘‘Except as provided in paragraph (2), 

3 any’’; 

4 (2) in the third sentence, by striking ‘‘In’’ and 

5 inserting ‘‘Except as provided in paragraph (2), in’’; 

6 (3) by striking the subsection designation and 

7 all that follows through ‘‘.—Notwithstanding’’ and 

8 inserting the following: 

9 ‘‘(h) PREMIUM ADJUSTMENT TO REFLECT CURRENT

10 RISK OF FLOOD.— 

11 ‘‘(1) IN GENERAL.—Notwithstanding’’; and 

12 (4) by adding at the end the following new 

13 paragraph: 

14 ‘‘(2) DISASTER AREAS.— 

15 ‘‘(A) LIMITATION ON RATE INCREASES.— 

16 In the case of any covered property, any such 

17 increase or new premium rate that becomes ef18 fective after July 6, 2012, shall be phased in 

19 over an 8-year period, at the rate of 5 percent 

20 for each of the first 4 years of such period and 

21 20 percent for each of the last 4 years of such 

22 period. 

23 ‘‘(B) COVERED PROPERTY.—For purposes 

24 of subparagraph (A), the term ‘covered prop25 erty’ means a residential property that— 


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1 ‘‘(i) is located within an area— 

2 ‘‘(I) for which a major disaster 

3 was declared pursuant to section 401 

4 of the Robert T. Stafford Disaster 

5 Relief and Emergency Assistance Act 

6 (42 U.S.C. 5170); and 

7 ‘‘(II)(aa) for which revised or up8 dated flood insurance rate maps be9 come effective during the 2-year pe10 riod beginning upon the occurrence of 

11 the event for which the major disaster 

12 declaration referred to in clause (i)(I) 

13 was made; or 

14 ‘‘(bb) that upon the date of the 

15 enactment of the Flood Victim Pre16 mium Relief Act of 2013 is eligible for 

17 any reason for preferred risk rate 

18 method premiums for flood insurance 

19 coverage or that was eligible, at any 

20 time during the 12-month period end21 ing upon the occurrence of the event 

22 for which the major disaster declara23 tion was made, for preferred risk rate 

24 method premiums; 


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1 ‘‘(ii) is owned by the same owner who 

2 owned the property at the time of the oc3 currence of such disaster event; and 

4 ‘‘(iii) is, and has been since the occur5 rence of such disaster event, the primary 

6 residence of such owner except for any pe7 riods of non-occupancy resulting from the 

8 disaster.’’. 

Æ 


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