Section 1 Short title
This Act may be cited as the “Monitoring America’s Premiums Act of 2017” or the “MAP Act of 2017”.
Monitoring America’s Premiums Act of 2017
A BILL
To delay any increase in flood insurance premium rates under the National Flood Insurance Program on properties located in flood hazard areas during any re-mapping of such areas by the Federal Emergency Management Agency, and for other purposes.
Sec. 2 Delay in premium increases during mapping
Subsection (e) of section 1308 of the National Flood Insurance Act of 1968 (42 U.S.C. 4015(i)) is amended—
in paragraph (3), by striking “and” at the end;
in paragraph (4), by striking the period at the end and inserting “; and”; and
by adding at the end the following new paragraph:
“(5) in the case of any property that is located in an area having special flood hazards and for which the Administrator has commenced the process for any revision, updating, or other change in the flood insurance rate map for the property, any annual period during which premium rate increases would otherwise apply to such property under this title shall be tolled, and such increases suspended, during the period that begins upon the commencement of such process and ends upon the map becoming final.”