H. Rept. 115-304 1 (2017-09-11)

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U.S. GOVERNMENT
INFORMATION
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                      115TH CONGRESS                                               REPORT
                          1st Session      HOUSE OF REPRESENTATIVES                115-304







                                    21ST CENTURY FLOOD REFORM ACT



                         SEPTEMBER 11, 2017.-Committed to the Committee of the Whole House on the
                                        State of the Union and ordered to be printed



                          Mr. HENSARLING, from the Committee on Financial Services,
                                              submitted the following


                                                  REPORT

                                                    together with

                                                 MINORITY VIEWS

                                                 [To accompany H.R. 2874]

                                 [Including cost estimate of the Congressional Budget Office]

                         The Committee on Financial Services, to whom was referred the
                      bill (H.R. 2874) to achieve reforms to improve the financial stability
                      of the National Flood Insurance Program, to enhance the develop-
                      ment of more accurate estimates of flood risk through new tech-
                      nology and better maps, to increase the role of private markets in
                      the management of flood insurance risks, and to provide for alter-
                      native methods to insure against flood peril, and for other pur-
                      poses, having considered the same, report favorably thereon with
                      an amendment and recommend that the bill as amended do pass.
                         The amendment is as follows:
                         Strike all after the enacting clause and insert the following:
                      SECTION 1. SHORT TITLE AND TABLE OF CONTENTS.
                        (a) SHORT TITLE.-This Act may be cited as the 21st Century Flood Reform Act.
                        (b) TABLE OF CONTENTS.-The table of contents for this Act is as follows:
                      Sec. 1. Short title and table of contents.

                                     TITLE I-POLICYHOLDER PROTECTIONS AND INFORMATION
                      Sec. 101. Annual limitation on premium increases.
                      Sec. 102. Flood insurance affordability program.
                      Sec. 103. Disclosure of premium methodology.
                      Sec. 104. Consideration of coastal and inland locations in premium rates.
                      Sec. 105. Monthly installment payment of premiums.
                      Sec. 106. Enhanced clear communication of flood risks.
                      Sec. 107. Availability of flood insurance information upon request.
                      Sec. 108. Disclosure of flood risk information upon transfer of property.
                      Sec. 109. Voluntary community-based flood insurance pilot program.
                      Sec. 110. Extension of National Flood Insurance Program.
                          69-006

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