(9) approaches for implementing a public or pri-
vate insurance scheme for low-income communities, in 
order to promote risk reduction and insurance cov-
erage in such communities; 
(10) the impact of Federal and State laws, regu-
lations, and policies (including rate regulation, mar-
ket access requirements, reinsurance regulations, ac-
counting and tax policies, State residual markets, 
and State catastrophe funds) on—
(A) the affordability and availability of ca-
tastrophe insurance; 
(B) the capacity of the private insurance 
market to cover losses inflicted by natural catas-
trophes; 
(C) the commercial and residential develop-
ment of high-risk areas; and 
(D) the costs of natural catastrophes to Fed-
eral and State taxpayers; 
(11) the present and long-term financial condi-
tion of State residual markets and catastrophe funds 
in high-risk regions, including the likelihood of insol-
vency following a natural catastrophe, the concentra-
tion of risks within such funds, the reliance on post-
event assessments and State funding, and the ade-
quacy of rates;
(12) the role that innovation in financial serv-
ices could play in improving the affordability and 
availability of natural catastrophe insurance, specifi-
cally addressing measures that would foster the devel-
opment of financial products designed to cover nat-
ural catastrophe risk, such as risked-linked securities; 
(13) the need for strengthened land use regula-
tions and building codes in States at high risk for 
natural catastrophes, and methods to strengthen the 
risk assessment and enforcement of structural mitiga-
tion and vulnerability reduction measures, such as 
zoning and building code compliance; 
(14) the benefits and costs of proposed Federal 
natural catastrophe insurance programs (including 
the Federal Government providing reinsurance to 
State catastrophe funds, private insurers, or other en-
tities), specifically addressing the costs to taxpayers, 
tax equity considerations, and the record of other gov-
ernment insurance programs (particularly with re-
gard to charging actuarially sound prices); 
(15) the ability of the United States private in-
surance market—
(A) to cover insured losses caused by nat-
ural catastrophes, including an estimate of the 
maximum amount of insured losses that could be
sustained during a single year and the prob-
ability of natural catastrophes occurring in a 
single year that would inflict more insured losses 
than the United States insurance and reinsur-
ance markets could sustain; and 
(B) to recover after covering substantial in-
sured losses caused by natural catastrophes; 
(16) the impact that demographic trends could 
have on the amount of insured losses inflicted by fu-
ture natural catastrophes; 
(17) the appropriate role, if any, for the Federal 
Government in stabilizing the property and casualty 
insurance and reinsurance markets; and 
(18) the role of the Federal, State, and local gov-
ernments in providing incentives for feasible risk 
mitigation efforts. 
SEC. 206. REPORT. 
(a) IN GENERAL.—Not later than 9 months after the 
date of enactment of this title, the Commission shall submit 
to the Committee on Banking, Housing, and Urban Affairs 
of the Senate and the Committee on Financial Services of 
the House of Representatives a final report containing—
(1) a detailed statement of the findings and as-
sessments conducted by the Commission pursuant to 
section 205; and
(2) any recommendations for legislative, regu-
latory, administrative, or other actions at the Fed-
eral, State, or local levels that the Commission con-
siders appropriate, in accordance with the require-
ments of section 205. 
(b) EXTENSION OF TIME.—The Commission may re-
quest Congress to extend the period of time for the submis-
sion of the report required under subsection (a) for an addi-
tional 3 months. 
SEC. 207. POWERS OF THE COMMISSION. 
(a) MEETINGS; HEARINGS.—The Commission may 
hold such hearings, sit and act at such times and places, 
take such testimony, and receive such evidence as the Com-
mission considers necessary to carry out the purposes of this 
title. Members may attend meetings of the Commission and 
vote in person, via telephone conference, or via video con-
ference. 
(b) AUTHORITY OF MEMBERS OR AGENTS OF THE 
COMMISSION.—Any member or agent of the Commission 
may, if authorized by the Commission, take any action 
which the Commission is authorized to take by this title. 
(c) OBTAINING OFFICIAL DATA.—
(1) AUTHORITY.—Notwithstanding any provi-
sion of section 552a of title 5, United States Code, the 
Commission may secure directly from any depart-
ment or agency of the United States any information 
necessary to enable the Commission to carry out this 
title. 
(2) PROCEDURE.—Upon request of the Chair-
person, the head of such department or agency shall 
furnish to the Commission the information requested. 
(d) POSTAL SERVICES.—The Commission may use the 
United States mails in the same manner and under the 
same conditions as other departments and agencies of the 
Federal Government. 
(e) ADMINISTRATIVE SUPPORT SERVICES.—Upon the 
request of the Commission, the Administrator of General 
Services shall provide to the Commission, on a reimbursable 
basis, any administrative support services necessary for the 
Commission to carry out its responsibilities under this title. 
(f) ACCEPTANCE OF GIFTS.—The Commission may ac-
cept, hold, administer, and utilize gifts, donations, and be-
quests of property, both real and personal, for the purposes 
of aiding or facilitating the work of the Commission. The 
Commission shall issue internal guidelines governing the re-
ceipt of donations of services or property. 
(g) VOLUNTEER SERVICES.—Notwithstanding the pro-
visions of section 1342 of title 31, United States Code, the 
Commission may accept and utilize the services of volun-
teers serving without compensation. The Commission may
100
reimburse such volunteers for local travel and office sup-
plies, and for other travel expenses, including per diem in 
lieu of subsistence, as authorized by section 5703 of title 
5, United States Code. 
(h) FEDERAL PROPERTY AND ADMINISTRATIVE SERV-
ICES ACT OF 1949.—Subject to the Federal Property and 
Administrative Services Act of 1949, the Commission may 
enter into contracts with Federal and State agencies, pri-
vate firms, institutions, and individuals for the conduct of 
activities necessary to the discharge of its duties and re-
sponsibilities. 
(i) LIMITATION ON CONTRACTS.—A contract or other 
legal agreement entered into by the Commission may not 
extend beyond the date of the termination of the Commis-
sion. 
SEC. 208. COMMISSION PERSONNEL MATTERS. 
(a) TRAVEL EXPENSES.—The members of the Commis-
sion shall be allowed travel expenses, including per diem 
in lieu of subsistence, at rates authorized for employees of 
agencies under subchapter I of chapter 57 of title 5, United 
States Code, while away from their homes or regular places 
of business in the performance of services for the Commis-
sion. 
(b) SUBCOMMITTEES.—The Commission may establish 
subcommittees and appoint members of the Commission to