To repeal the Biggert-Waters Flood Insurance Reform Act of 2012.

Effective as of the enactment of the Biggert-Waters Flood Insurance Reform Act of 2012 (title II of division F of Public Law 112–141; 126 Stat. 916), such Act (other than section 100203 (126 Stat. 916)) is repealed, and the provisions of law amended or repealed by such Act (other than by such section 100203) are restored or revived as if such Act had not been enacted.

The budgetary effects of this Act, for the purpose of complying with the Statutory Pay-As-You-Go Act of 2010, shall be determined by reference to the latest statement titled “Budgetary Effects of PAYGO Legislation” for this Act, submitted for printing in the Congressional Record by the Chairman of the Committee on the Budget of the House of Representatives, as long as such statement has been submitted prior to the vote on passage of this Act.