I 
113TH CONGRESS 
1ST SESSION H. R. 1267 
To delay and phase-in increases in flood insurance premium rates under 
the national flood insurance program for certain properties, and for 
other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 19, 2013 
Mr. PALAZZO introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To delay and phase-in increases in flood insurance premium 
rates under the national flood insurance program for 
certain properties, 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 Relief Act of 2013’’. 
SEC. 2. TEMPORARY DELAY OF IMPLEMENTATION AND 
PHASE-IN OF PREMIUM RATE INCREASES 
FOR CERTAIN PROPERTIES. 
(a) NEWLY PURCHASED PROPERTIES.— 
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(1) DELAY
OF
IMPLEMENTATION.—For any 
property that is purchased after July 6, 2012, and 
before January 1, 2015, the risk premium rate 
charged for flood insurance under the national flood 
insurance program under the National Flood Insur-
ance Act of 1968 (42 U.S.C. 4001 et seq.) shall— 
(A) during the 12-month period beginning 
upon such purchase, be the amount of such risk 
premium rate chargeable for such property im-
mediately before such purchase; and 
(B) thereafter, be a rate that is not less 
than those estimated under section 1307(a)(1) 
of such Act (42 U.S.C. 4014(a)(1)), as required 
by paragraph (2) of that section, subject to 
paragraph (2) of this subsection. 
(2) PHASE-IN
OF
INCREASED
RATES.—Upon 
the expiration of any 12-month period referred to in 
paragraph (1)(A) with respect to any property, any 
increase in the risk premium rate charged for flood 
insurance for such property that is a result of para-
graph (1)(B) shall be phased in over a 10-year pe-
riod, at the rate of 10 percent for each year fol-
lowing the expiration of such 12-month period. 
(b) PROPERTIES WITH NEW FLOOD INSURANCE 
RATE MAPS.— 
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(1) DELAY
OF
IMPLEMENTATION.—For any 
property that is located in an area that is partici-
pating in the national flood insurance program 
under the National Flood Insurance Act of 1968, 
that is covered by a flood insurance policy on the 
date of a covered flood insurance rate map update, 
and for which the risk premium rate charged for 
flood insurance for such property has increased, or 
will increase, as a result of such update, the risk 
premium rate charged for flood insurance under the 
national flood insurance program shall, during the 
12-month period beginning upon the effective date of 
such covered flood insurance rate map update, be 
the amount of such risk premium rate chargeable 
for such property immediately before the effective 
date of such update. 
(2) PHASE-IN
OF
INCREASED
RATES.—Upon 
the expiration of any 12-month period referred to in 
paragraph (1) with respect to any property, any in-
crease in the risk premium rate charged for flood in-
surance for such property that is a result of such 
covered flood insurance rate map update shall be 
phased in over a 10-year period, at the rate of 10 
percent for each year following the expiration of 
such 12-month period. 
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(3) COVERED FLOOD INSURANCE RATE MAP UP-
DATE.—For purposes of this subsection, the term 
‘‘covered flood insurance rate map update’’ means 
any revision or updating of flood insurance rate 
maps under the National Flood Insurance Act of 
1968, the Flood Disaster Protection Act of 1973 (42 
U.S.C. 4002 et seq.), or the Biggert-Waters Flood 
Insurance Reform Act of 2012 (subtitle A of title II 
of division F of Public Law 112–141), that takes ef-
fect after July 6, 2012, and before January 1, 2015. 
SEC. 3. PERMANENT PHASE-IN OF PREMIUM RATE IN-
CREASES FOR CERTAIN PROPERTIES. 
(a) PROPERTIES PURCHASED IN 2015 OR AFTER.— 
Paragraph (2) of section 1307(g) of the National Flood 
Insurance Act of 1968 (42 U.S.C. 4014(g)(2)) is amended 
by striking ‘‘after the date of enactment of the Biggert- 
Waters Flood Insurance Reform Act of 2012’’ and insert-
ing the following: ‘‘on or after January 1, 2015, except 
that any increase in the risk premium rate charged for 
flood insurance resulting from this paragraph for any such 
property shall be phased in over a 10-year period, at the 
rate of 10 percent for each year following such purchase’’. 
(b) PROPERTIES WITH NEW FLOOD INSURANCE 
RATE MAPS EFFECTIVE IN 2015 OR AFTER.—Subsection 
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(h) of section 1308 of the National Flood Insurance Act 
of 1968 (42 U.S.C. 4015(h)) is amended— 
(1) in the first sentence, by inserting before the 
period at the end the following: ‘‘and to section 2(b) 
of the Flood Insurance Premium Relief Act of 
2013’’; and 
(2) in the second sentence— 
(A) by striking ‘‘Any increase’’ and insert-
ing ‘‘In the case of any such update that takes 
effect on or after January 1, 2015, any in-
crease’’; and 
(B) by striking ‘‘5-year period, at the rate 
of 20 percent’’ and inserting ‘‘10-year period, 
at the rate of 10 percent’’. 
Æ 
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