HR 5652 PCS 
(1) delineate and include in any such rate 
maps— 
(A) all areas located within the 100-year 
flood plain; and 
(B) areas subject to graduated and other 
risk levels, to the maximum extent possible; 
(2) ensure that any such rate maps— 
(A) include levees, including decertified lev-
ees, and the level of protection they confer; 
(B) reflect current land use and topog-
raphy and incorporate the most current and ac-
curate ground level data; 
(C) take into consideration the impacts 
and use of fill and the flood risks associated 
with altered hydrology; 
(D) differentiate between a property that 
is located in a flood zone and a structure lo-
cated on such property that is not at the same 
risk level for flooding as such property due to 
the elevation of the structure; 
(E) identify and incorporate natural fea-
tures and their associated flood protection bene-
fits into mapping and rates; and 
(F) identify, analyze, and incorporate the 
impact of significant changes to building and 
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HR 5652 PCS 
development throughout any river or costal 
water system, including all tributaries, which 
may impact flooding in areas downstream; and 
(3) provide that such rate maps are developed 
on a watershed basis. 
(c) REPORT.—If, in establishing new standards for 
flood insurance rate maps pursuant to subsection (a) of 
this section, the Administrator does not implement all of 
the recommendations of the Council made under the pro-
posed new mapping standards developed by the Council 
pursuant to section 346(c), upon establishment of the new 
standards the Administrator shall submit a report to the 
Committee on Financial Services of the House of Rep-
resentatives and the Committee on Banking, Housing, and 
Urban Affairs of the Senate specifying which such rec-
ommendations were not adopted and explaining the rea-
sons such recommendations were not adopted. 
(d) IMPLEMENTATION.—The Administrator shall, not 
later than the expiration of the 6-month period beginning 
upon establishment of the new standards for flood insur-
ance rate maps pursuant to subsection (a) of this section, 
commence use of the new standards and updating of flood 
insurance rate maps in accordance with the new stand-
ards. Not later than the expiration of the 10-year period 
beginning upon the establishment of such new standards, 
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HR 5652 PCS 
the Administrator shall complete updating of all flood in-
surance rate maps in accordance with the new standards, 
subject to the availability of sufficient amounts for such 
activities provided in appropriation Acts. 
(e) TEMPORARY SUSPENSION OF MANDATORY PUR-
CHASE REQUIREMENT FOR CERTAIN PROPERTIES.— 
(1) 
SUBMISSION
OF
ELEVATION
CERTIFI-
CATE.—Subject to paragraphs (2) and (3) of this 
subsection, subsections (a), (b), and (e) of section 
102 of the Flood Disaster Protection Act of 1973 
(42 U.S.C. 4012a), and section 202(a) of such Act, 
shall not apply to a property located in an area des-
ignated as having a special flood hazard if the owner 
of such property submits to the Administrator an 
elevation certificate for such property showing that 
the lowest level of the primary residence on such 
property is at an elevation that is at least three feet 
higher than the elevation of the 100-year flood plain. 
(2) REVIEW OF CERTIFICATE.—The Adminis-
trator shall accept as conclusive each elevation cer-
tificate submitted under paragraph (1) unless the 
Administrator conducts a subsequent elevation sur-
vey and determines that the lowest level of the pri-
mary residence on the property in question is not at 
an elevation that is at least three feet higher than 
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HR 5652 PCS 
the elevation of the 100-year flood plain. The Ad-
ministrator shall provide any such subsequent ele-
vation survey to the owner of such property. 
(3) DETERMINATIONS
FOR
PROPERTIES
ON 
BORDERS OF SPECIAL FLOOD HAZARD AREAS.— 
(A) EXPEDITED DETERMINATION.—In the 
case of any survey for a property submitted to 
the Administrator pursuant to paragraph (1) 
showing that a portion of the property is lo-
cated within an area having special flood haz-
ards and that a structure located on the prop-
erty is not located within such area having spe-
cial flood hazards, the Administrator shall expe-
ditiously process any request made by an owner 
of the property for a determination pursuant to 
paragraph (2) or a determination of whether 
the structure is located within the area having 
special flood hazards. 
(B) PROHIBITION OF FEE.—If the Admin-
istrator determines pursuant to subparagraph 
(A) that the structure on the property is not lo-
cated within the area having special flood haz-
ards, the Administrator shall not charge a fee 
for reviewing the flood hazard data and shall 
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not require the owner to provide any additional 
elevation data. 
(C) SIMPLIFICATION
OF
REVIEW
PROC-
ESS.—The Administrator shall collaborate with 
private sector flood insurers to simplify the re-
view process for properties described in sub-
paragraph (A) and to ensure that the review 
process provides for accurate determinations. 
(4) TERMINATION OF AUTHORITY.—This sub-
section shall cease to apply to a property on the date 
on which the Administrator updates the flood insur-
ance rate map that applies to such property in ac-
cordance with the requirements of subsection (d). 
SEC. 348. TREATMENT OF LEVEES. 
Section 1360 of the National Flood Insurance Act of 
1968 (42 U.S.C. 4101) is amended by adding at the end 
the following new subsection: 
‘‘(k) TREATMENT OF LEVEES.—The Administrator 
may not issue flood insurance maps, or make effective up-
dated flood insurance maps, that omit or disregard the 
actual protection afforded by an existing levee, floodwall, 
pump or other flood protection feature, regardless of the 
accreditation status of such feature.’’. 
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HR 5652 PCS 
SEC. 349. PRIVATIZATION INITIATIVES. 
(a) FEMA AND GAO REPORTS.—Not later than the 
expiration of the 18-month period beginning on the date 
of the enactment of this Act, the Administrator of the 
Federal Emergency Management Agency and the Comp-
troller General of the United States shall each conduct a 
separate study to assess a broad range of options, meth-
ods, and strategies for privatizing the national flood insur-
ance program and shall each submit a report to the Com-
mittee on Financial Services of the House of Representa-
tives and the Committee on Banking, Housing, and Urban 
Affairs of the Senate with recommendations for the best 
manner to accomplish such privatization. 
(b) PRIVATE RISK-MANAGEMENT INITIATIVES.— 
(1) AUTHORITY.—The Administrator of the 
Federal Emergency Management Agency may carry 
out such private risk-management initiatives under 
the national flood insurance program as the Admin-
istrator considers appropriate to determine the ca-
pacity of private insurers, reinsurers, and financial 
markets to assist communities, on a voluntary basis 
only, in managing the full range of financial risks 
associated with flooding. 
(2) ASSESSMENT.—Not later than the expira-
tion of the 12-month period beginning on the date 
of the enactment of this Act, the Administrator shall 
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