I 

113TH CONGRESS 

1ST SESSION H. R. 1485 

To amend the National Flood Insurance Act of 1968 to modify the phasein increases in flood insurance premium rates for certain properties, 

and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 11, 2013 

Mr. LOBIONDO 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 

modify the phase-in increases in flood insurance premium 

rates for certain properties, 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. MODIFICATION OF PHASE-IN INCREASES OF 

4 FLOOD INSURANCE PREMIUM RATES FOR 

5 CERTAIN PROPERTIES. 

6 (a) CHANGE OF OWNERSHIP OF SECOND HOMES, 

7 BUSINESS PROPERTIES, AND PRIMARY RESIDENCES.— 

8 Section 1307(g)(2) of the National Flood Insurance Act 

9 of 1968 (42 U.S.C. 4014(g)(2)) is amended by striking 


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1 ‘‘2012’’ and inserting ‘‘2012, except for properties re2 ferred to in paragraphs (3) and (4) of section 1308(e)’’. 

3 (b) SECOND HOMES AND BUSINESS PROPERTIES

4 AND CHANGE OF OWNERSHIP OF PRIMARY RESI5 DENCES.—Section 1308(e) of the National Flood Insur6 ance Act of 1968 (42 U.S.C. 4015(e)) is amended— 

7 (1) in paragraph (1), by striking ‘‘; and’’ and 

8 inserting a semicolon; 

9 (2) in paragraph (2)— 

10 (A) by striking ‘‘described in subpara11 graphs (A) through (E)’’ and inserting ‘‘de12 scribed in subparagraphs (B), (C), and (E)’’; 

13 and 

14 (B) by striking the period at the end and 

15 inserting a semicolon; and 

16 (3) by adding at the end the following new 

17 paragraphs: 

18 ‘‘(3) described in subparagraphs (A) and (D) of 

19 section 1307(a)(2) shall be increased by 12.5 per20 cent each year, until the average risk premium rate 

21 for such properties is equal to the average of the 

22 risk premium rates for properties described under 

23 paragraph (1); and 

24 ‘‘(4) that are primary residences purchased 

25 after the date of the enactment of the BiggertVerDate Mar 15 2010 02:03 Apr 18, 2013 Jkt 029200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H1485.IH H1485

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1 Waters Flood Insurance Reform Act of 2012 (title 

2 II of division F of Public Law 112–141), shall be in3 creased by 12.5 percent each year as if such increase 

4 began on the date of the enactment of such Act, 

5 until the average risk premium rate for such prop6 erties is equal to the average of the risk premium 

7 rates for properties described under paragraph (1).’’. 

8 (c) EFFECT ON RATES CHANGED DUE TO BIGGERT9 WATERS FLOOD INSURANCE REFORM ACT OF 2012.— 

10 The Administrator of the Federal Emergency Manage11 ment Agency shall adjust the chargeable risk premium 

12 rates for flood insurance under the National Flood Insur13 ance Act of 1968 (42 U.S.C. 4001 et seq.) for properties 

14 referred to in paragraphs (3) and (4) of section 1308(e) 

15 of such Act (42 U.S.C. 4015(e)), as added by subsection 

16 (b) of this section, as if the amendments made by sub17 sections (a) and (b) of this section were enacted at the 

18 same time as the Biggert-Waters Flood Insurance Reform 

19 Act of 2012 (title II of division F of Public Law 112– 

20 141). 

Æ 


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