I 

113TH CONGRESS 

2D SESSION H. R. 4313 

To ensure fairness in premium rates for coverage for business properties 

and second homes under the National Flood Insurance Program, and 

for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 26, 2014 

Mr. JOLLY (for himself, Mr. BILIRAKIS, and Ms. CASTOR of Florida) introduced the following bill; which was referred to the Committee on Financial Services 

A BILL 

To ensure fairness in premium rates for coverage for business properties and second homes under the National 

Flood Insurance Program, 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 Pre5 mium Parity Act of 2014’’. 

6 SEC. 2. REPEAL OF CERTAIN RATE INCREASES. 

7 (a) REPEAL OF PROHIBITION ON SUBSIDIZED

8 RATES.—Paragraph (2) of section 1307(a) of the NaVerDate Mar 15 2010 19:05 Mar 29, 2014 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H4313.IH H4313

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1 tional Flood Insurance Act of 1968 (42 U.S.C. 4014) is 

2 amended— 

3 (1) in subparagraph (A)— 

4 (A) by striking ‘‘which is not’’ and insert5 ing ‘‘that is neither’’; and 

6 (B) by inserting before the semicolon at 

7 the end the following: ‘‘nor the secondary resi8 dence of the owner of the property, and the Ad9 ministrator shall establish standards for a resi10 dential property to qualify for purposes of this 

11 subparagraph as a secondary residence that 

12 shall (A) require the owner of the property to 

13 occupy the property for a minimum period of 

14 time each year, as the Administrator deter15 mines appropriate, and (B) provide that only a 

16 single property of any owner may so qualify’’; 

17 (2) in subparagraph (C), by inserting ‘‘or’’ after 

18 the semicolon at the end; 

19 (3) by striking subparagraph (D); and 

20 (4) by redesignating subparagraph (E) as sub21 paragraph (D). 

22 (b) CONFORMING AMENDMENTS RELATING TO LIMI23 TATION ON ANNUAL RATE INCREASES.—Paragraph (4) of 

24 section 1308(e) of the National Flood Insurance Act of 

25 1968 (42 U.S.C. 4015(e)(4)), as amended by section 5 


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1 of Public Law 113–89, is amended by striking ‘‘(A) 

2 through (E)’’ and inserting ‘‘(A) through (D)’’. 

3 (c) IMPLEMENTATION.— 

4 (1) EFFECTIVE DATE.—The Administrator of 

5 the Federal Emergency Management Agency (in this 

6 subsection referred to as the ‘‘Administrator’’) shall 

7 make available such rate tables, as necessary to im8 plement the amendments made by subsections (a) 

9 and (b) as if such subsections were enacted as part 

10 of the Biggert-Waters Flood Insurance Reform Act 

11 of 2012 (Public Law 112–141; 126 Stat. 957). 

12 (2) IMPLEMENTATION, COORDINATION, AND

13 GUIDANCE.— 

14 (A) FACILITATION OF TIMELY REFUNDS.— 

15 To ensure the participation of Write Your Own 

16 companies (as such term is defined in section 

17 100202(a) of the Biggert-Waters Flood Insur18 ance Reform Act of 2012 (42 U.S.C. 4004(a)), 

19 the Administrator and the Federal Emergency 

20 Management Agency shall consult with Write 

21 Your Own companies throughout the develop22 ment of guidance and rate tables necessary to 

23 implement the amendments made by sub24 sections (a) and (b). 


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1 (B) IMPLEMENTATION AND GUIDANCE.— 

2 The Administrator shall issue final guidance 

3 and rate tables necessary to implement the 

4 amendments made by subsections (a) and (b) 

5 not later than eight months following the date 

6 of the enactment of this Act. Write Your Own 

7 companies, in coordination with the Federal 

8 Emergency Management Agency, shall have not 

9 less than six months but not more than eight 

10 months following the issuance of such final 

11 guidance and rate tables to implement the 

12 changes required by such final guidance and 

13 rate tables. 

14 (C) REFUND OF EXCESS PREMIUM

15 CHARGES COLLECTED.—The Administrator 

16 shall refund directly to insureds any premiums 

17 for flood insurance coverage under the National 

18 Flood Insurance Program collected in excess of 

19 the rates required under the amendments made 

20 by subsections (a) and (b). To allow for nec21 essary and appropriate implementation of such 

22 amendments, any premium changes necessary 

23 to implement such amendments, including any 

24 such premium refund due to policy holders, 

25 which shall be paid directly by the National 


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1 Flood Insurance Program, shall not be charged 

2 or paid to policyholders by the National Flood 

3 Insurance Program until after the Adminis4 trator issues guidance and makes available such 

5 rate tables to implement the amendments made 

6 by subsections (a) and (b). 

Æ 


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