Title: National Flood Insurance Program Competition and Extension Act of 2018
Policy area: Finance and Financial Sector

Summary:
National Flood Insurance Program Competition and Extension Act of 2018
This bill amends the National Flood Insurance Act of 1968 to reauthorize the National Flood Insurance Program through May 31, 2019. The bill shall take effect as if it had been enacted on December 21, 2018.
The Federal Emergency Management Agency (FEMA) must allow a Write Your Own company to sell private flood insurance. (A Write Your Own company writes and services federal standard flood insurance policies in its own name.)

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7388 Introduced in House (IH)]

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115th CONGRESS
  2d Session
                                H. R. 7388

To extend the National Flood Insurance Program, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           December 21, 2018

Mr. MacArthur introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To extend the National Flood Insurance Program, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``National Flood Insurance Program 
Competition and Extension Act of 2018''.

SEC. 2. REAUTHORIZATION OF NATIONAL FLOOD INSURANCE PROGRAM.

    (a) Financing.--Section 1309(a) of the National Flood Insurance Act 
of 1968 (42 U.S.C. 4016(a)) is amended by striking ``December 7, 2018'' 
and inserting ``May 31, 2019''.
    (b) Program Expiration.--Section 1319 of the National Flood 
Insurance Act of 1968 (42 U.S.C. 4026) is amended by striking 
``December 7, 2018'' and inserting ``May 31, 2019''.
    (c) Retroactive Effective Date.--If this Act is enacted after 
December 21, 2018, the amendments made by subsections (a) and (b) shall 
take effect as if enacted on December 21, 2018.

SEC. 3. ELIMINATION OF NON-COMPETE REQUIREMENT.

    Section 1345 of the National Flood Insurance Act of 1968 (42 U.S.C. 
4081) is amended by adding at the end the following new subsection:
    ``(f) Authority To Provide Other Flood Coverage.--
            ``(1) In general.--The Administrator may not, as a 
        condition of participating in the Write Your Own Program (as 
        such term is defined in section 100202(a) of the Biggert-Waters 
        Flood Insurance Reform Act of 2012 (42 U.S.C. 4004(a))) or in 
        otherwise participating in the utilization by the Administrator 
        of the facilities and services of insurance companies, 
        insurers, insurance agents and brokers, and insurance 
        adjustment organizations pursuant to the authority in this 
        section, nor as a condition of eligibility to engage in any 
        other activities under the National Flood Insurance Program 
        under this title, restrict any such company, insurer, agent, 
        broker, or organization from offering and selling private flood 
        insurance (as such term is defined in section 102(b) of the 
        Flood Disaster Protection Act of 1973 (42 U.S.C. 4012a(b))).
            ``(2) Financial assistance; subsidy arrangement.--After the 
        date of the enactment of this subsection--
                    ``(A) the Administrator may not include in any 
                agreement entered into with any insurer for 
                participation in the Write Your Own Program any 
                provision establishing a condition prohibited by 
                paragraph (1), including the provisions of Article XIII 
                of the Federal Emergency Management Agency, Federal 
                Insurance Administration, Financial Assistance/Subsidy 
                Arrangement, as adopted pursuant to section 62.23(a) of 
                title 44 of the Code of Federal Regulations; and
                    ``(B) any such provision in any such agreement 
                entered into before such date of enactment shall not 
                have any force or effect, and the Administrator may not 
                take any action to enforce such provision.''.
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