42 U.S.C. § 4015a | Premium surcharge

(a)

Imposition and collection

March 21, 2014section 4011(b) of this titleThe Administrator shall impose and collect an annual surcharge, in the amount provided in subsection (b), on all policies for flood insurance coverage under the National Flood Insurance Program that are newly issued or renewed after . Such surcharge shall be in addition to the surcharge under and any other assessments and surcharges applied to such coverage.

(b)

Amount

The amount of the surcharge under subsection (a) shall be—

(1)

$25, except as provided in paragraph (2); and

(2)

$250, in the case of a policy for any property that is—

(A)

a non-residential property; or

(B)

a residential property that is not the primary residence of an individual.

(c)

Termination

section 4014 of this title section 4056 of this title 42 U.S.C. 4014 section 4014(a)(1) of this titleSubsections (a) and (b) shall cease to apply on the date on which the chargeable risk premium rate for flood insurance under this chapter for each property covered by flood insurance under this chapter, other than properties for which premiums are calculated under subsection (e) or (f) of or or under section 100230 of the Biggert-Waters Flood Insurance Reform Act of 2012 ( note), is not less than the applicable estimated risk premium rate under for such property.

Pub. L. 90–448, title XIII, § 1308A Pub. L. 113–89, § 8(a)Mar. 21, 2014128 Stat. 1023(, as added , , .)

Editorial Notes

References in Text

Pub. L. 90–448Aug. 1, 196882 Stat. 572 section 4001 of this titleThis chapter, referred to in subsec. (c), was in the original a reference to “this title” meaning title XIII of , , , known as the National Flood Insurance Act of 1968, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

section 100230 of Pub. L. 112–141 section 4014 of this titleSection 100230 of the Biggert-Waters Flood Insurance Reform Act of 2012, referred to in subsec. (c), is , which is set out as a note under .