42 U.S.C. § 4028 — John H. Chafee Coastal Barrier Resources

Page 6044 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 4027b 1 See References in Text note below. (C) a description and summary of the losses attributable to repetitive loss structures; (D) a description and summary of all losses incurred by the National Flood Insurance Pro- gram due to— (i) hurricane related damage; and (ii) nonhurricane related damage; (E) the amounts made available by the Ad- ministrator for mitigation assistance under section 4104c(c)(4) of this title, as so redesig- nated by this Act, for the purchase of prop- erties substantially damaged by flood for that fiscal year, and the actual number of flood damaged properties purchased and the total cost expended to purchase such properties; (F) the estimate of the Administrator as to the average historical loss year, and the basis for that estimate; (G) the estimate of the Administrator as to the maximum amount of claims that the Na- tional Flood Insurance Program would have to expend in the event of a catastrophic year; (H) the average— (i) amount of insurance carried per flood insurance policy; (ii) premium per flood insurance policy; and (iii) loss per flood insurance policy; and (I) the number of claims involving damages in excess of the maximum amount of flood in- surance available under the National Flood In- surance Program and the sum of the amount of all damages in excess of such amount. (Pub. L. 112–141, div. F, title II, § 100231(b), July 6, 2012, 126 Stat. 950.) Editorial Notes REFERENCES IN TEXT This Act, referred to in par. (3)(E), is Pub. L. 112–141, July 6, 2012, 126 Stat. 405, known as the Moving Ahead for Progress in the 21st Century Act and also as the MAP–21. For complete classification of this Act to the Code, see Short Title of 2012 Amendment note set out under section 101 of Title 23, Highways, and Tables. CODIFICATION Section was enacted as part of the Biggert-Waters Flood Insurance Reform Act of 2012, and also as part of the Moving Ahead for Progress in the 21st Century Act, also known as the MAP–21, and not as part of the Na- tional Flood Insurance Act of 1968 which comprises this chapter. Statutory Notes and Related Subsidiaries DEFINITIONS For definitions of terms used in this section, see sec- tion 4004 of this title. § 4027b. Assessment of claims-paying ability (1) Assessment (A) Assessment required (i) In general Not later than September 30 of each year, the Administrator shall conduct an assess- ment of the ability of the National Flood In- surance Program to pay claims. (ii) Private market reinsurance The assessment under this paragraph for any year in which the Administrator exer- cises the authority under section 4055(a)(2) of this title, as added by this section,1 to secure reinsurance of coverage provided by the Na- tional Flood Insurance Program from the private market shall include information re- lating the use of private sector reinsurance and reinsurance equivalents by the Adminis- trator, whether or not the Administrator used the borrowing authority under section 4016 of this title. (iii) First assessment The Administrator shall conduct the first assessment required under this paragraph not later than September 30, 2012. (B) Considerations In conducting an assessment under subpara- graph (A), the Administrator shall take into consideration regional concentrations of cov- erage written by the National Flood Insurance Program, peak flood zones, and relevant miti- gation measures. (2) Annual report of the Administrator of activi- ties under the National Flood Insurance Pro- gram The Administrator shall— (A) include the results of each assessment in the report required under section 4027a of this title; and (B) not later than 30 days after the date on which the Administrator completes an assess- ment required under paragraph (1), make the results of the assessment available to the pub- lic. (Pub. L. 112–141, div. F, title II, § 100232(e), July 6, 2012, 126 Stat. 955.) Editorial Notes REFERENCES IN TEXT This section, referred to in par. (1)(A)(ii), means sec- tion 100232 of Pub. L. 112–141, which enacted this section and amended sections 4051, 4052, 4055, 4082, and 4121 of this title. CODIFICATION Section was enacted as part of the Biggert-Waters Flood Insurance Reform Act of 2012, and also as part of the Moving Ahead for Progress in the 21st Century Act, also known as the MAP–21, and not as part of the Na- tional Flood Insurance Act of 1968 which comprises this chapter. Statutory Notes and Related Subsidiaries DEFINITIONS For definitions of terms used in this section, see sec- tion 4004 of this title. § 4028. John H. Chafee Coastal Barrier Resources System (a) No new flood insurance coverage may be provided under this chapter on or after October 1, 1983, for any new construction or substantial improvements of structures located on any coastal barrier within the John H. Chafee Coast- al Barrier Resources System established by sec- tion 3503 of title 16. A federally insured financial Page 6045 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 4029 1 See References in Text note below. institution may make loans secured by struc- tures which are not eligible for flood insurance by reason of this section. (b) No new flood insurance coverage may be provided under this chapter after the expiration of the 1-year period beginning on November 16, 1990, for any new construction or substantial im- provements of structures located in any area identified and depicted on the maps referred to in section 3503(a) of title 16 as an area that is (1) not within the John H. Chafee Coastal Barrier Resources System and (2) is in an otherwise pro- tected area. Notwithstanding the preceding sen- tence, new flood insurance coverage may be pro- vided for structures in such protected areas that are used in a manner consistent with the pur- pose for which the area is protected. (Pub. L. 90–448, title XIII, § 1321, as added Pub. L. 97–35, title III, § 341(d)(1), Aug. 13, 1981, 95 Stat. 419; amended Pub. L. 97–348, § 11(a), Oct. 18, 1982, 96 Stat. 1658; Pub. L. 101–591, § 9, Nov. 16, 1990, 104 Stat. 2938; Pub. L. 106–167, § 3(c)(7), Dec. 9, 1999, 113 Stat. 1804.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in text, was in the original a reference to ‘‘this title’’ meaning title XIII of Pub. L. 90–448, Aug. 1, 1968, 82 Stat. 572, known as the National Flood Insurance Act of 1968, which is classified prin- cipally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 4001 of this title and Tables. AMENDMENTS 1999—Pub. L. 106–167 amended section catchline and substituted ‘‘John H. Chafee Coastal Barrier Resources System’’ for ‘‘Coastal Barrier Resources System’’ in subsecs. (a) and (b). 1990—Pub. L. 101–591 designated existing provisions as subsec. (a) and added subsec. (b). 1982—Subsecs. (a) to (c). Pub. L. 97–348 struck out sub- sec. designations in subsecs. (a) and (c), in provisions of former subsec. (a) substituted ‘‘on any coastal barrier within the Coastal Barrier Resources System estab- lished by section 3503 of title 16’’ for ‘‘on undeveloped coastal barriers which shall be designated by the Sec- retary of the Interior’’, and struck out subsec. (b) which provided definitions for purposes of this section. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective Oct. 1, 1981, see section 371 of Pub. L. 97–35, set out as a note under section 3701 of Title 12, Banks and Banking. STUDY FOR DESIGNATION OF UNDEVELOPED COASTAL BARRIERS; REPORT AND RECOMMENDATIONS TO CON- GRESS Pub. L. 97–35, title III, § 341(d)(2), Aug. 13, 1981, 95 Stat. 419, relating to a study by the Secretary of the In- terior for the purpose of designating the undeveloped coastal barriers affected by this section, and trans- mittal to Congress of a report on such study, was re- pealed by Pub. L. 97–348, § 11(b), Oct. 18, 1982, 96 Stat. 1659. § 4029. Colorado River Floodway (a) Renewal and transfer of policies; acquisition of policies after filing of maps Owners of existing National Flood Insurance Act policies with respect to structures located within the Floodway established under section 1600c of title 43 shall have the right to renew and transfer such policies. Owners of existing struc- tures located within said Floodway on October 8, 1986, who have not acquired National Flood In- surance Act policies shall have the right to ac- quire policies with respect to such structures for six months after the Secretary of the Interior files the Floodway maps required by section 1600c(b)(2) 1 of title 43 and to renew and transfer such policies. (b) New coverage for new construction or sub- stantial improvements No new flood insurance coverage may be pro- vided under this chapter on or after a date six months after October 8, 1986, for any new con- struction or substantial improvements of struc- tures located within the Colorado River Floodway established by section 1600c of title 43. New construction includes all structures that are not insurable prior to that date. (c) Establishment of temporary boundaries The Secretary of the Interior may by rule after notice and comment pursuant to section 553 of title 5 establish temporary Floodway boundaries to be in effect until the maps re- quired by section 1600c(b)(2) 1 of title 43 are filed, for the purpose of enforcing subsections (b) and (d) of this section. (d) Loans by federally supervised, approved, reg- ulated, or insured financial institutions A regulated lending institution or Federal agency lender may make loans secured by struc- tures which are not eligible for flood insurance by reason of this section: Provided, That prior to making such a loan, such institution determines that the loans or structures securing the loan are within the Floodway. (Pub. L. 90–448, title XIII, § 1322, as added Pub. L. 99–450, § 12, Oct. 8, 1986, 100 Stat. 1135; amended Pub. L. 100–242, title V, § 545(e), Feb. 5, 1988, 101 Stat. 1942; Pub. L. 103–325, title V, § 512(b), Sept. 23, 1994, 108 Stat. 2257.) Editorial Notes REFERENCES IN TEXT The National Flood Insurance Act, referred to in sub- sec. (a), probably means the National Flood Insurance Act of 1968, title XIII of Pub. L. 90–448, Aug. 1, 1968, 82 Stat. 572, which is classified principally to this chapter (§ 4001 et seq.). For complete classification of this Act to the Code, see Short Title note set out under section 4001 of this title and Tables. Section 1600c(b)(2) of title 43, referred to in subsecs. (a) and (c), was struck out and former subsec. (b)(1)(ii) redesignated (b)(2) of section 1600c by Pub. L. 105–362, title IX, § 901(d)(1), Nov. 10, 1998, 112 Stat. 3289. As amended, section 1600c(b)(2) no longer relates to maps required to be prepared and filed by the Secretary. This chapter, referred to in subsec. (b), was in the original a reference to ‘‘this title’’ meaning title XIII of Pub. L. 90–448, Aug. 1, 1968, 82 Stat. 572, known as the National Flood Insurance Act of 1968, which is classi- fied principally to this chapter. For complete classi- fication of this Act to the Code, see Short Title note set out under section 4001 of this title and Tables. AMENDMENTS 1994—Subsec. (d). Pub. L. 103–325 substituted ‘‘regu- lated lending institution or Federal agency lender’’ for