Section 1 Short title
This Act may be cited as the “NFIP Risk Rating 2.0 Delay Act of 2021”.
NFIP Risk Rating 2.0 Delay Act of 2021
A BILL
To temporarily limit the authority of the Administrator of the Federal Emergency Management Agency to prescribe chargeable premium rates for flood insurance under the National Flood Insurance Program.
Sec. 2 Premium rate freeze
Notwithstanding section 1308(a) of the National Flood Insurance Act of 1968 (42 U.S.C. 4015(a)), during the period beginning on the date of enactment of this Act and ending on September 30, 2022, the chargeable premium rates for flood insurance coverage under the National Flood Insurance Act of 1968 (42 U.S.C. 4001 et seq.), as in effect on the day before that date of enactment—
shall remain in effect; and
may not be adjusted by the Administrator of the Federal Emergency Management Agency.