IIB 
110TH CONGRESS 
2D SESSION 
H. R. 3959 
IN THE SENATE OF THE UNITED STATES 
JANUARY 24, 2008 
Received; read twice and referred to the Committee on Banking, Housing, and 
Urban Affairs 
AN ACT 
To amend the National Flood Insurance Act of 1968 to 
provide for the phase-in of actuarial rates for certain 
pre-FIRM properties. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. PHASE-IN OF ACTUARIAL RATES FOR CERTAIN 
PRE-FIRM PROPERTIES. 
(a) IN GENERAL.—Section 1308(c) of the National 
Flood Insurance Act of 1968 (42 U.S.C. 4015(c)) is 
amended— 
(1) by redesignating paragraph (2) as para-
graph (3); and 
(2) by inserting after paragraph (1) the fol-
lowing new paragraph: 
‘‘(2) RECENTLY PURCHASED PRE-FIRM SINGLE 
FAMILY
PROPERTIES
USED
AS
PRINCIPAL
RESI-
DENCES.—Any single family property that is used as 
a principal residence that— 
‘‘(A) has been constructed or substantially 
improved and for which such construction or 
improvement was started, as determined by the 
Director, before December 31, 1974, or before 
the effective date of the initial rate map pub-
lished by the Director under paragraph (2) of 
section 1360 for the area in which such prop-
erty is located, whichever is later; and 
‘‘(B) is purchased— 
‘‘(i) after the date of enactment of 
this paragraph; and 
‘‘(ii) for not less than $600,000.’’. 
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(b) TECHNICAL AMENDMENTS.—Section 1308(c) of 
the National Flood Insurance Act of 1968 (42 U.S.C. 
4015(c)) is amended— 
(1) in the matter preceding paragraph (1), by 
striking ‘‘the limitations provided under paragraphs 
(1) and (2)’’ and inserting ‘‘subsection (e)’’; and 
(2) in paragraph (1), by striking ‘‘, except’’ and 
all that follows through ‘‘subsection (e)’’. 
(c) EFFECTIVE DATE AND TRANSITION.— 
(1) EFFECTIVE DATE.—The amendments made 
by subsections (a) and (b) shall apply beginning on 
January 1, 2011, except as provided in paragraph 
(2) of this subsection. 
(2) TRANSITION FOR PROPERTIES COVERED BY 
FLOOD INSURANCE UPON EFFECTIVE DATE.— 
(A) INCREASE OF RATES OVER TIME.—In 
the case of any property described in paragraph 
(2) of section 1308(c) of the National Flood In-
surance Act of 1968, as amended by subsection 
(a) of this section, that, as of the effective date 
under paragraph (1) of this subsection, is cov-
ered under a policy for flood insurance made 
available under the national flood insurance 
program for which the chargeable premium 
rates are less than the applicable estimated risk 
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(C) FULL ACTUARIAL RATES.—The provi-
sions of paragraph (2) of such section 1308(c) 
shall apply to such a property upon the accom-
plishment of the increase under this paragraph 
and thereafter. 
Passed the House of Representatives January 23, 
2008. 
Attest: 
LORRAINE C. MILLER, 
Clerk. 
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