Bill > HR6402

This bill, the National Flood Insurance Program Extension and Enhanced Consumer and Community Protections Act of 2018, has several key provisions: 1. It extends the National Flood Insurance Program (NFIP) financing and expiration dates from September 30, 2017 to November 30, 2018. 2. It requires "covered communities" (those with a certain number of repetitively flooded or severely damaged properties) to identify flood-prone areas, develop mitigation plans, and implement those plans. The bill allows the Federal Emergency Management Agency (FEMA) to provide data and grants to assist communities and impose sanctions for non-compliance. 3. It increases the amount of Increased Cost of Compliance coverage available to policyholders, from $60,000 to up to $100,000, and allows policyholders to use those funds for eligible mitigation projects. It also allows FEMA to impose surcharges to fund this increased coverage. 4. It requires FEMA to allow policyholders to pay premiums in monthly installments, and provides for a 12-month period where FEMA can charge policyholders a fee of up to $25 annually for this service. 5. It requires FEMA to offer premium rate reductions for properties where policyholders implement certain mitigation measures, and requires FEMA to provide the maximum number of Community Rating System premium credits practicable. 6. It requires various studies on NFIP participation, compliance with the mandatory purchase requirement, and buyout practices. 7. It requires property owners to disclose flood risk information when selling or leasing real estate in NFIP-participating communities, starting in 2022.

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https://www.congress.gov/bill/115th-congress/house-bill/6402/all-info