SEC. 4. ENFORCEMENT. 
Paragraph (5) of section 102(f) of the Flood Disaster 
Protection Act of 1973 (42 U.S.C. 4012a) is amended— 
(1) by striking ‘‘$350’’ and inserting ‘‘$2,000’’; 
and 
(2) by striking the last sentence. 
SEC. 5. REITERATION OF FEMA RESPONSIBILITIES UNDER 
2004 REFORM ACT. 
(a) APPEALS PROCESS.—As directed in section 205 
of the Bunning-Bereuter-Blumenauer Flood Insurance 
Reform Act of 2004 (42 U.S.C. 4011 note), the Director 
of the Federal Emergency Management Agency is again 
directed to, not later than 90 days after the date of the 
enactment of this Act, establish an appeals process 
through which holders of a flood insurance policy may ap-
peal the decisions, with respect to claims, proofs of loss, 
and loss estimates relating to such flood insurance policy 
as required by such section. 
(b) MINIMUM TRAINING AND EDUCATION REQUIRE-
MENTS.—The Director of the Federal Emergency Man-
agement Agency is directed to enforce the minimum train-
ing and education requirements for all insurance agents 
who sell flood insurance policies that have been established 
under the notice published September 1, 2005 (70 Fed. 
Reg. 52117) pursuant to section 207 of the Bunning-Be-
reuter-Blumenauer Flood Insurance Reform Act of 2004 
(42 U.S.C. 4011 note). 
(c) MITIGATION PROGRAMS.—Not later than the ex-
piration of the 30-day period beginning on the date of the 
enactment of this Act, the Director of the Federal Emer-
gency Management Agency shall issue regulations nec-
essary to implement the amendments made by sections 
102, 103, 104, and 105 of the Bunning-Bereuter- 
Blumenauer Flood Insurance Reform Act of 2004 (118 
Stat. 714 et seq.). 
(d) REPORT.—Not later than the expiration of the 
6-month period beginning on the date of the enactment 
of this Act, the Director of the Federal Emergency Man-
agement Agency shall submit a report to the Congress de-
scribing the implementation of each provision of the 
Bunning-Bereuter-Blumenauer Flood Insurance Reform 
Act of 2004 (Public Law 108–264) and identifying each 
regulation, order, notice, and other material issued by the 
Director in implementing each such provision. 
SEC. 6. MAXIMUM COVERAGE LIMITS. 
Subsection (b) of section 1306 of the National Flood 
Insurance Act of 1968 (42 U.S.C. 4013(b)) is amended— 
(1) in paragraph (2), by striking ‘‘$250,000’’ 
and inserting ‘‘$335,500’’;
(2) in paragraph (3), by striking ‘‘$100,000’’ 
and inserting ‘‘$135,000’’; and 
(3) in paragraph (4), by striking ‘‘$500,000’’ 
each place such term appears and inserting 
‘‘$670,700’’. 
SEC. 7. COVERAGE FOR ADDITIONAL LIVING EXPENSES 
AND BUSINESS INTERRUPTION. 
Subsection (b) of section 1306 of the National Flood 
Insurance Act of 1968 (42 U.S.C. 4013), as amended by 
section 5 of this Act, is further amended— 
(1) in paragraph (4), by striking ‘‘and’’ at the 
end; 
(2) in paragraph (5), by striking the period at 
the end and inserting a semicolon; and 
(3) by adding at the end the following new 
paragraph: 
‘‘(6) in the case of any residential property, 
each renewal or new contract for flood insurance 
coverage shall provide not less than $1,000 aggre-
gate liability per dwelling unit for any necessary in-
creases in living expenses incurred by the insured 
when losses from a flood make the residence unfit to 
live in, which coverage shall be available only at 
chargeable rates that are not less than the estimated
premium rates for such coverage determined in ac-
cordance with section 1307(a)(1); 
‘‘(7) in the case of any residential property, 
coverage for additional living expenses described in 
paragraph (6) shall be made available to every in-
sured upon renewal and every applicant in excess of 
the limits provided in paragraph (6) in such 
amounts and at such rates as the Director shall es-
tablish, except that such chargeable rates shall not 
be less than the estimated premium rates for such 
coverage determined in accordance with section 
1307(a)(1); and 
‘‘(8) the Director shall make available, for pur-
chase by any policyholder of a policy for flood insur-
ance coverage for a commercial property, optional 
coverage for losses resulting from any partial or 
total interruption of the policyholder’s business 
caused by damage to or loss of such property from 
a flood, except that— 
‘‘(A) for purposes of such coverage, losses 
shall be determined based on the profits the 
covered business would have earned, based on 
previous financial records, had the flood not oc-
curred; and
‘‘(B) such coverage shall be made available 
only at chargeable rates that are not less than 
the estimated premium rates for such coverage 
determined 
in 
accordance 
with 
section 
1307(a)(1).’’. 
SEC. 8. INCREASE IN BORROWING AUTHORITY. 
(a) BORROWING AUTHORITY.—The first sentence of 
subsection (a) of section 1309 of the National Flood In-
surance Act of 1968 (42 U.S.C. 4016(a)), as amended by 
the National Flood Insurance Program Enhanced Bor-
rowing Authority Act of 2005 (Public Law 109–65; 119 
Stat. 1998), is amended by striking ‘‘$3,500,000,000’’ 
and inserting ‘‘$22,000,000,000’’. 
(b) FEMA REPORT.—Not later than the expiration 
of the 6-month period beginning on the date of the enact-
ment of this Act, the Director of the Federal Emergency 
Management Agency shall submit a report to the Congress 
setting forth a plan for repaying any amounts borrowed 
pursuant to increase in borrowing authority authorized 
under the amendments made by subsection (a). 
SEC. 9. CLARIFICATION OF REPLACEMENT COST PROVI-
SIONS, FORMS, AND POLICY LANGUAGE. 
Not later than the expiration of the 3-month period 
beginning on the date of the enactment of this Act, the
Director of the Federal Emergency Management Agency 
shall— 
(1) issue regulations, and revise any materials 
made available by such Agency, to clarify the appli-
cability of replacement cost coverage under the na-
tional flood insurance program; 
(2) revise any regulations, forms, notices, guid-
ance, and publications relating to the full cost of re-
pair or replacement under the replacement cost cov-
erage to more clearly describe such coverage to flood 
insurance policyholders and information to be pro-
vided by such policyholders relating to such cov-
erage, and to avoid providing misleading information 
to such policyholders; and 
(3) revise the language in standard flood insur-
ance policies under such program regarding rating 
and coverage descriptions in a manner that is con-
sistent with language used widely in other home-
owners and property and casualty insurance policies, 
including such language regarding classification of 
buildings, basements, crawl spaces, detached ga-
rages, enclosures below elevated buildings, and re-
placement costs.
SEC. 10. FEMA REPORTS ON FINANCIAL STATUS OF INSUR-
ANCE PROGRAM. 
Section 1320 of the National Flood Insurance Act of 
1968 (42 U.S.C. 4027) is amended— 
(1) in the section heading, by striking ‘‘REPORT 
TO THE PRESIDENT’’ and inserting ‘‘REPORTS’’; 
(2) in subsection (a), by striking ‘‘IN GEN-
ERAL’’ and inserting ‘‘BIENNIAL REPORT TO PRESI-
DENT’’; and 
(3) by adding at the end the following new sub-
section: 
‘‘(c) SEMIANNUAL REPORTS TO CONGRESS ON FI-
NANCIAL STATUS.—Not later than June 30 and December 
31 of each year, the Director shall submit a report to the 
Congress regarding the financial status of the national 
flood insurance program under this title. Each such report 
shall describe the financial status of the National Flood 
Insurance Fund and current and projected levels of 
claims, premium receipts, expenses, and borrowing under 
the program.’’. 
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