eligible households for such fiscal year by a participating 
State pursuant to subsection (e) at chargeable premium 
rates that are discounted by an amount that is based on 
the type and levels of assistance elected pursuant to sub-
section (f) by the participating State for such fiscal year. 
‘‘(i) BILLING STATEMENT.—In the case of an eligible 
household for which assistance under the program under 
this section is provided with respect to a policy for flood 
insurance coverage, the annual billing statement for such 
policy shall include statements of the following amounts: 
‘‘(1) The estimated risk premium rate for the 
property under section 1307(a)(1). 
‘‘(2) If applicable, the estimated risk premium 
rate for the property under section 1307(a)(2). 
‘‘(3) The chargeable risk premium rate for the 
property taking into consideration the discount pur-
suant to subsection (h). 
‘‘(4) The amount of the discount pursuant to 
subsection (h) for the property. 
‘‘(5) The number and dollar value of claims filed 
for the property, over the life of the property, under 
a flood insurance policy made available under the 
Program and the effect, under this Act, of filing any 
further claims under a flood insurance policy with re-
spect to that property. 
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‘‘(j) FUNDING THROUGH STATE AFFORDABILITY SUR-
CHARGES.— 
‘‘(1) IMPOSITION
AND
COLLECTION.—Notwith-
standing section 1308, for each fiscal year in which 
flood insurance coverage under this title is made 
available for properties in a participating State at 
chargeable premium rates that are discounted pursu-
ant to subsection (f), the Administrator shall impose 
and collect a State affordability surcharge on each 
policy for flood insurance coverage for a property lo-
cated in such participating State that is (A) not a 
residential property having 4 or fewer residences, or 
(B) is such a residential property but is owned by a 
household that is not an eligible household for pur-
poses of such fiscal year. 
‘‘(2) AMOUNT.—The amount of the State afford-
ability surcharge imposed during a fiscal year on 
each such policy for a property in a participating 
State shall be— 
‘‘(A) sufficient such that the aggregate 
amount of all such State affordability surcharges 
imposed on properties in such participating 
State during such fiscal year is equal to the ag-
gregate amount by which all policies for flood in-
surance coverage under this title sold during 
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such fiscal year for properties owned by eligible 
households in the participating State are dis-
counted pursuant to subsection (f); and 
‘‘(B) the same amount for each property in 
the participating State being charged such a sur-
plus. 
‘‘(k) TREATMENT OF OTHER SURCHARGES.—The pro-
vision of assistance under the program under this section 
with respect to any property and any limitation on pre-
miums or premium increases pursuant to subsection (f) for 
the property shall not affect the applicability or amount 
of any surcharge under section 1308A for the property, of 
any increase in premiums charged for the property pursu-
ant to section 1310A(c), or of any equivalency fee under 
section 1308B for the property. 
‘‘(l) DEFINITIONS.—For purposes of this section, the 
following definitions shall apply: 
‘‘(1) PARTICIPATING STATE.—The term ‘partici-
pating State’ means, with respect to a fiscal year, a 
State that is participating in the program under this 
section for such fiscal year. 
‘‘(2) ELIGIBLE HOUSEHOLD.—The term ‘eligible 
household’ means, with respect to a fiscal year and a 
participating State, a household that has an income 
that is less than the amount of the income limitation 
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for the fiscal year established for purposes of the State 
program of such participating State pursuant to sub-
section (g)(1). 
‘‘(3) POVERTY LEVEL.—The term ‘poverty level’’ 
means, with respect to a household in any State, the 
income poverty line as prescribed and revised at least 
annually pursuant to section 673(2) of the Commu-
nity Services Block Grant Act (42 U.S.C. 9902(2)), as 
applicable to such State. 
‘‘(4) STATE.—The term ‘State’ shall include a 
consortium of States established for purposes of ad-
ministrating the program under this section with re-
spect to the member States of the consortium. 
‘‘(5) STATE
PROGRAM.—The term ‘State pro-
gram’ means a program carried out in compliance 
with this section by a participating State in conjunc-
tion with the program under this section of the Ad-
ministrator. 
‘‘(m) REGULATIONS.—The Administrator shall issue 
such regulations as may be necessary to carry out the pro-
gram under this section.’’. 
SEC. 103. DISCLOSURE OF PREMIUM METHODOLOGY. 
Section 1308 of the National Flood Insurance Act of 
1968 (42 U.S.C. 4015) is amended by adding at the end 
the following new subsection: 
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‘‘(n) DISCLOSURE OF PREMIUM METHODOLOGY.— 
‘‘(1) DISCLOSURE.—Six months prior to the ef-
fective date of risk premium rates, the Administrator 
shall cause to be published in the Federal Register an 
explanation of the bases for, and methodology used to 
determine, the chargeable premium rates to be effec-
tive for flood insurance coverage under this title. 
‘‘(2) ALIGNMENT WITH INDUSTRY PRACTICES.— 
The disclosure required under paragraph (1) shall, to 
the extent practicable, be aligned with industry pat-
terns and practices and shall include information and 
data recommended by the State insurance commis-
sioners guidelines on rate filings. 
‘‘(3) PUBLIC
MEETINGS.—The Administrator 
shall, on an annual basis, hold at least one public 
meeting in each of the geographical regions of the 
United States, as defined by the Administrator for 
purposes of the National Flood Insurance Program, 
for the purpose of explaining the methodology de-
scribed in paragraph (1) and answering questions 
and receiving comments regarding such methodology. 
The Administrator shall provide notice of each such 
public meeting in advance, in such manner, and in 
using such means as are reasonably designed to notify 
interested parties and members of the public of the 
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date and time, location, and purpose of such meeting, 
and of how to submit questions or comments.’’. 
SEC. 104. CONSIDERATION OF COASTAL AND INLAND LOCA-
TIONS IN PREMIUM RATES. 
(a) ESTIMATES OF PREMIUM RATES.—Subparagraph 
(A) of section 1307(a)(1) of the National Flood Insurance 
Act of 1968 (42 U.S.C. 4014(a)(1)(A)) is amended— 
(1) in clause (i), by striking ‘‘and’’ at the end; 
and 
(2) by adding at the end the following new 
clause: 
‘‘(iii) the differences in flood risk for 
properties impacted by coastal flood risk 
and properties impacted by riverine, or in-
land flood risk; and’’. 
(b) ESTABLISHMENT
OF
CHARGEABLE
PREMIUM 
RATES.—Paragraph (1) of section 1308(b) of the National 
Flood Insurance Act of 1968 (42 U.S.C. 4015(b)(1)) is 
amended by inserting ‘‘due to differences in flood risk re-
sulting from coastal flood hazards and riverine, or inland 
flood hazards and’’ after ‘‘including differences in risks’’. 
(c) REVISED RATES.—Not later than the expiration of 
the two-year period beginning on the date of the enactment 
of this Act, the Administrator of the Federal Emergency 
Management Agency shall revise risk premium rates under 
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the National Flood Insurance Program to implement the 
amendments made by this section. 
SEC. 105. MONTHLY INSTALLMENT PAYMENT OF PREMIUMS. 
Subsection (g) of section 1308 of the National Flood 
Insurance Act of 1968 (42 U.S.C. 4015(g)) is amended— 
(1) by striking the subsection designation and all 
that follows through ‘‘With respect’’ and inserting the 
following: 
‘‘(g) FREQUENCY OF PREMIUM COLLECTION.— 
‘‘(1) OPTIONS.—With respect’’; and 
(2) by adding at the end the following new para-
graph: 
‘‘(2) MONTHLY INSTALLMENT PAYMENT OF PRE-
MIUMS.— 
‘‘(A) EXEMPTION
FROM
RULEMAKING.— 
Until such time as the Administrator promul-
gates regulations implementing paragraph (1) of 
this subsection, the Administrator may adopt 
policies and procedures, notwithstanding any 
other provisions of law and in alignment and 
consistent with existing industry escrow and 
servicing standards, necessary to implement such 
paragraph without undergoing notice and com-
ment rulemaking and without conducting regu-
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latory analyses otherwise required by statute, 
regulation, or Executive order. 
‘‘(B) INSTALLMENT
PLAN
FEE.—The Ad-
ministrator may charge policyholders choosing to 
pay premiums in monthly installments a fee not 
to exceed $50 annually. 
‘‘(C) PILOT PROGRAM.—The Administrator 
may initially implement paragraph (1) of this 
subsection as a pilot program that provides for 
a gradual phase-in of implementation.’’. 
SEC. 106. ENHANCED CLEAR COMMUNICATION OF FLOOD 
RISKS. 
(a) IN GENERAL.—Subsection (l) of section 1308 of the 
National Flood Insurance Act of 1968 (42 U.S.C. 4015(l)) 
is amended to read as follows: 
‘‘(l) CLEAR COMMUNICATIONS.— 
‘‘(1) NEWLY ISSUED AND RENEWED POLICIES.— 
For all policies for flood insurance coverage under the 
National Flood Insurance Program that are newly 
issued or renewed, the Administrator shall clearly 
communicate to policyholders— 
‘‘(A) their full flood risk determinations, re-
gardless of whether their premium rates are full 
actuarial rates; and 
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‘‘(B) the number and dollar value of claims 
filed for the property, over the life of the prop-
erty, under a flood insurance policy made avail-
able under the Program and the effect, under this 
Act, of filing any further claims under a flood 
insurance policy with respect to that property.’’. 
(b) EFFECTIVE DATE.—Subsection (l) of section 1308 
of the National Flood Insurance Act of 1968, as added by 
subsection (a) of this section, shall take effect beginning 
upon the expiration of the 12-month period that begins on 
the date of the enactment of this Act. Such subsection (l), 
as in effect immediately before the amendment made by 
paragraph (1), shall apply during such 12-month period. 
SEC. 107. AVAILABILITY OF FLOOD INSURANCE INFORMA-
TION UPON REQUEST. 
Section 1313 of the National Flood Insurance Act of 
1968 (42 U.S.C. 4020) is amended— 
(1) by inserting ‘‘(a) PUBLIC INFORMATION AND 
DATA.—’’ after ‘‘SEC. 1313.’’; and 
(2) by adding at the end the following new sub-
section: 
‘‘(b) AVAILABILITY OF FLOOD INSURANCE INFORMA-
TION UPON REQUEST.—Not later than 30 days after a re-
quest for such information by the current owner of a prop-
erty, the Administrator shall provide to the owner any in-
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formation, including historical information, available to 
the Administrator on flood insurance program coverage, 
payment of claims, and flood damages for the property at 
issue, and any information the Administrator has on 
whether the property owner may be required to purchase 
coverage under the National Flood Insurance Program due 
to previous receipt of Federal disaster assistance, including 
assistance provided by the Small Business Administration, 
the Department of Housing and Urban Development, or the 
Federal Emergency Management Agency, or any other type 
of assistance that subjects the property to the mandatory 
purchase requirement under section 102 of the Flood Dis-
aster Protection Act of 1973 (42 U.S.C. 4012a).’’. 
SEC. 108. DISCLOSURE OF FLOOD RISK INFORMATION 
UPON TRANSFER OF PROPERTY. 
(a) IN GENERAL.—Chapter 1 of the National Flood In-
surance Act of 1968 (42 U.S.C. 4011 et seq.), as amended 
by the preceding provisions of this Act, is further amended 
by adding at the end the following new section: 
‘‘SEC. 1327. DISCLOSURE OF FLOOD RISK INFORMATION 
UPON TRANSFER OF PROPERTY. 
‘‘(a) REQUIREMENT
FOR PARTICIPATION
IN PRO-
GRAM.—After September 30, 2022, no new flood insurance 
coverage may be provided under this title for any real prop-
erty located in any area (or subdivision thereof) unless an 
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appropriate body has imposed, by statute or regulation, a 
duty on any seller or lessor of improved real estate located 
in such area to provide to any purchaser or lessee of such 
property a property flood hazard disclosure which the Ad-
ministrator has determined meets the requirements of sub-
section (b). 
‘‘(b) DISCLOSURE REQUIREMENTS.—A property flood 
hazard disclosure for a property shall meet the requirements 
of this subsection only if the disclosure— 
‘‘(1) is made in writing; 
‘‘(2) discloses any actual knowledge of the seller 
or lessor of— 
‘‘(A) prior physical damage caused by flood 
to any building located on the property; 
‘‘(B) prior insurance claims for losses cov-
ered under the National Flood Insurance Pro-
gram or private flood insurance with respect to 
such property; 
‘‘(C) any previous notification regarding 
the designation of the property as a repetitive 
loss or severe repetitive loss property; and 
‘‘(D) any Federal legal obligation to obtain 
and maintain flood insurance running with the 
property, such as any obligation due to a pre-
vious form of disaster assistance under the Rob-
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