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) intro-
duced the following bill; which was referred to the Committee on Finan-
cial Services 
A BILL 
To ensure fairness in premium rates for coverage for busi-
ness properties and second homes under the National 
Flood Insurance Program, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Flood Insurance Pre-
mium Parity Act of 2014’’. 
SEC. 2. REPEAL OF CERTAIN RATE INCREASES. 
(a) REPEAL
OF
PROHIBITION
ON
SUBSIDIZED 
RATES.—Paragraph (2) of section 1307(a) of the Na-
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tional Flood Insurance Act of 1968 (42 U.S.C. 4014) is 
amended— 
(1) in subparagraph (A)— 
(A) by striking ‘‘which is not’’ and insert-
ing ‘‘that is neither’’; and 
(B) by inserting before the semicolon at 
the end the following: ‘‘nor the secondary resi-
dence of the owner of the property, and the Ad-
ministrator shall establish standards for a resi-
dential property to qualify for purposes of this 
subparagraph as a secondary residence that 
shall (A) require the owner of the property to 
occupy the property for a minimum period of 
time each year, as the Administrator deter-
mines appropriate, and (B) provide that only a 
single property of any owner may so qualify’’; 
(2) in subparagraph (C), by inserting ‘‘or’’ after 
the semicolon at the end; 
(3) by striking subparagraph (D); and 
(4) by redesignating subparagraph (E) as sub-
paragraph (D). 
(b) CONFORMING AMENDMENTS RELATING TO LIMI-
TATION ON ANNUAL RATE INCREASES.—Paragraph (4) of 
section 1308(e) of the National Flood Insurance Act of 
1968 (42 U.S.C. 4015(e)(4)), as amended by section 5 
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of Public Law 113–89, is amended by striking ‘‘(A) 
through (E)’’ and inserting ‘‘(A) through (D)’’. 
(c) IMPLEMENTATION.— 
(1) EFFECTIVE DATE.—The Administrator of 
the Federal Emergency Management Agency (in this 
subsection referred to as the ‘‘Administrator’’) shall 
make available such rate tables, as necessary to im-
plement the amendments made by subsections (a) 
and (b) as if such subsections were enacted as part 
of the Biggert-Waters Flood Insurance Reform Act 
of 2012 (Public Law 112–141; 126 Stat. 957). 
(2) IMPLEMENTATION, 
COORDINATION, 
AND 
GUIDANCE.— 
(A) FACILITATION OF TIMELY REFUNDS.— 
To ensure the participation of Write Your Own 
companies (as such term is defined in section 
100202(a) of the Biggert-Waters Flood Insur-
ance Reform Act of 2012 (42 U.S.C. 4004(a)), 
the Administrator and the Federal Emergency 
Management Agency shall consult with Write 
Your Own companies throughout the develop-
ment of guidance and rate tables necessary to 
implement the amendments made by sub-
sections (a) and (b). 
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(B) IMPLEMENTATION AND GUIDANCE.— 
The Administrator shall issue final guidance 
and rate tables necessary to implement the 
amendments made by subsections (a) and (b) 
not later than eight months following the date 
of the enactment of this Act. Write Your Own 
companies, in coordination with the Federal 
Emergency Management Agency, shall have not 
less than six months but not more than eight 
months following the issuance of such final 
guidance and rate tables to implement the 
changes required by such final guidance and 
rate tables. 
(C) 
REFUND
OF
EXCESS
PREMIUM 
CHARGES
COLLECTED.—The 
Administrator 
shall refund directly to insureds any premiums 
for flood insurance coverage under the National 
Flood Insurance Program collected in excess of 
the rates required under the amendments made 
by subsections (a) and (b). To allow for nec-
essary and appropriate implementation of such 
amendments, any premium changes necessary 
to implement such amendments, including any 
such premium refund due to policy holders, 
which shall be paid directly by the National 
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Flood Insurance Program, shall not be charged 
or paid to policyholders by the National Flood 
Insurance Program until after the Adminis-
trator issues guidance and makes available such 
rate tables to implement the amendments made 
by subsections (a) and (b). 
Æ 
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