Section 1 Short title
This Act may be cited as the “Flood Insurance Affordability Act”.
Flood Insurance Affordability Act
A BILL
To amend the National Flood Insurance Act of 1968 to modify the amount by which the chargeable risk premium rate for flood insurance under that Act may be increased in any year.
Sec. 2 Annual limitation on premium increases
Section 1308(e)(1) of the National Flood Insurance Act of 1968 (42 U.S.C. 4015(e)(1)) is amended, in the matter preceding subparagraph (A), by striking “18 percent” and inserting “9 percent”.