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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jan 6, 2013.
Amends the National Flood Insurance Act of 1968 to increase from $20.725 billion to $30.425 billion the total amount of notes and obligations (federal borrowing authority) which may be issued by the Administrator of the Federal Emergency Management Agency (FEMA), with the President's approval, for the National Flood Insurance program.
Designates such increase as an emergency requirement under the the Statutory Pay-As-You-Go Act of 2010.
