H. R. 6254
IN THE HOUSE OF REPRESENTATIVES
September 29, 2010
Mrs. Kirkpatrick of Arizona introduced the following bill; which was referred to the Committee on Financial Services
To amend the National Flood Insurance Act of 1968 to provide for certain exceptions to the mandatory 30-day waiting period before new or modified flood insurance coverage takes effect.
Exceptions to the mandatory 30-day waiting period for new flood insurance coverage to take effect under the National Flood Insurance Program
Waiver by the Secretary of Homeland Security
Section 1306(c)(2) of the National Flood Insurance Act of 1968 (42 U.S.C. 4013(c)(2)) is amended—
(A), by striking
; or and inserting
(B), by striking the period and inserting
; or; and
by adding at the end the following new paragraph:
the purchase of flood insurance coverage for which the Secretary of Homeland Security waives the 30-day waiting period referred to in paragraph (1) due to an occurrence that the Secretary determines has caused the area covered by such flood insurance to be more susceptible to flooding than before such occurrence, which waiver the Secretary may apply retroactively.
Retroactive waiver for certain properties in areas newly susceptible to flooding
Notwithstanding section 1306(c) of the National Flood Insurance Act of 1968 (42 U.S.C. 4013(c)), the Administrator of the Federal Emergency Management Agency shall ensure that flood insurance coverage of a covered property under a covered contract takes effect beginning on the date that all obligations for such coverage (including completion of the application and payment of any initial premiums owed) were satisfactorily completed.
In this subsection:
covered contract means a new contract for flood insurance
coverage under the National Flood Insurance Act of 1968 (42 U.S.C. 4001 et
seq.) entered into on or before July 20, 2010, or any modification to coverage
under an existing flood insurance contract under such Act made on or before
covered property means a property that is located in an area
that, due to a wildfire that began on June 20, 2010, became more susceptible to
flooding than before the occurrence of such wildfire.