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TEXT OF AMENDMENTS
(Senate - June 26, 2012)

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[Pages S4640-S4641]
                           TEXT OF AMENDMENTS

  SA 2480. Ms. MURKOWSKI submitted an amendment intended to be proposed 
by her to the bill S. 1940, to amend the National Flood Insurance Act 
of 1968, to restore the financial solvency of the flood insurance fund, 
and for other purposes; which was ordered to lie on the table; as 
follows:

       At the appropriate place, insert the following:

     SEC. ___. STUDY AND REPORT ON WAIVERS OF THE PROHIBITION ON 
                   DEVELOPMENT ON FILL IN V ZONES.

       (a) Definitions.--In this section--

[[Page S4641]]

       (1) the term ``detrimental change in the effect of wave 
     forces'' means a significant increase in wave forces or 
     transportation of shore materials; and
       (2) the term ``eligible area'' means an area designated as 
     Zone V1-30, VE, or V on a National Flood Insurance Program 
     rate map.
       (b) Study.--
       (1) Study required.--The Administrator shall conduct a 
     study assessing the feasibility of granting a waiver of 
     regulations of the Federal Emergency Management Agency 
     (including any legislative proposals that may be necessary to 
     enable the Administrator to grant a waiver) to a community--
       (A) to allow new construction within an eligible area 
     located seaward of the reach of the mean high tide if the 
     community demonstrates that the new construction--
       (i) will withstand wave forces, currents, and debris impact 
     associated with the base flood; and
       (ii) will not increase the elevation of the base flood at 
     any point within the community or cause a detrimental change 
     in the effect of wave forces on properties in the community;
       (B) to allow new construction within an eligible area 
     located seaward of the reach of the mean high tide if the 
     community demonstrates that the new construction will not 
     increase the water surface elevation of the base flood at any 
     point within the community;
       (C) to allow the use of fill for structural support of 
     buildings within an eligible area if--
       (i) the community demonstrates that the effect of the 
     proposed fill will not increase the elevation of the base 
     flood at any point within the community; and
       (ii) a licensed engineer having sufficient qualifications 
     and experience demonstrates that--

       (I) the substrate on which the fill will be placed will not 
     be eroded during the base flood predicted for the site of the 
     buildings; and
       (II) the placed fill is adequately protected from erosion 
     during the base flood event; or

       (D) to allow the use of fill for structural support of 
     buildings within an eligible area if the community 
     demonstrates that the effect of the proposed development will 
     not increase the water surface elevation of the base flood at 
     any point within the community.
       (2) Adequate protection of fill.--For purposes of paragraph 
     (1)(C)(ii)(II), a licensed engineer shall demonstrate 
     adequate protection of fill by calculations that the fill--
       (A) will not settle below the elevation of the base flood; 
     and
       (B) will resist forces of scour, erosion, and differential 
     settlement.
       (3) Additional considerations.--The study required under 
     paragraph (1) shall evaluate the appropriateness of limiting 
     the waivers described in paragraph (1) to locations where--
       (A) the main flooding source--
       (i) is wave overtopping of the upland; and
       (ii) is not surge inundation; and
       (B) the breaking wave height in the base flood event is 
     less than 10 feet.
       (c) Report.--Not later than 1 year after the date of 
     enactment of this Act, the Administrator shall submit to the 
     Committee on Banking, Housing, and Urban Affairs of the 
     Senate and the Committee on Financial Services of the House 
     of Representatives a report that contains the results of the 
     study under subsection (b).
       (d) Revisions of Certain City Ordinances.--The 
     Administrator may not require revisions to section 
     49.70.400(f)(6) of the Code of Ordinances of the City and 
     Borough of Juneau, Alaska as a condition of continued 
     participation in the National Flood Insurance Program before 
     the date that is 1 year after the date on which the 
     Administrator submits the report under subsection (c).
                                 ______
                                 
  SA 2481. Mr. LAUTENBERG submitted an amendment intended to be 
proposed by him to the bill S. 1940, to amend the National Flood 
Insurance Act of 1968, to restore the financial solvency of the flood 
insurance fund, and for other purposes; which was ordered to lie on the 
table; as follows:

       On page 7, strike line 19 and all that follows through page 
     8, line 11, and insert the following:
       ``(A) any residential property which is not the primary 
     residence of an individual; or
       ``(B) any business property; and''; and
       On page 12, lines 1 and 2, strike ``(A) through (E)'' and 
     insert ``(A) and (B)''.
                                 ______
                                 
  SA 2482. Mr. LAUTENBERG submitted an amendment intended to be 
proposed by him to the bill S. 1940, to amend the National Flood 
Insurance Act of 1968, to restore the financial solvency of the flood 
insurance fund, and for other purposes; which was ordered to lie on the 
table; as follows:

       At the end of title I, add the following:

     SEC. __. FINANCIAL HARDSHIP WAIVER.

       Section 1308 of the National Flood Insurance Act of 1968 
     (42 U.S.C. 4015), as amended by this Act, is amended by 
     adding at the end the following:
       ``(j) Financial Hardship Waiver.--
       ``(1) Waiver.--Notwithstanding subsection (e)(2), the 
     Administrator shall establish a risk premium rate for a 
     policyholder with respect to a property described in 
     subparagraph (B), (C), or (E) of section 1307(a)(2) that is 
     equal to the risk premium rate that would have applied to the 
     property if the Administrator were not required to increase 
     risk premium rates under subsection (e)(2), if the 
     Administrator determines that an increase in the risk premium 
     rate under subsection (e)(2) would cause undue financial 
     hardship for the policyholder.
       ``(2) Considerations.--In making a determination under 
     paragraph (1) with respect to a policyholder, the 
     Administrator shall take into consideration the cost of 
     living in the area where the property is located.''.
                                 ______
                                 
  SA 2483. Mr. BARRASSO (for himself and Mr. Inhofe) submitted an 
amendment intended to be proposed by him to the bill S. 1940, to amend 
the National Flood Insurance Act of 1968, to restore the financial 
solvency of the flood insurance fund, and for other purposes; which was 
ordered to lie on the table; as follows:

       On page 5, between lines 7 and 8, insert the following:
       (3) Climate science.--The term ``climate science''--
       (A) means natural climate variability; and
       (B) does not include the study of anthropogenic climate 
     change.
       On page 50, beginning on line 24, strike ``and the 
     potential'' and all that follows through ``warming'' on page 
     51, line 2.
                                 ______
                                 
  SA 2484. Mr. BARRASSO (for himself and Mr. Inhofe) submitted an 
amendment intended to be proposed by him to the bill S. 1940, to amend 
the National Flood Insurance Act of 1968, to restore the financial 
solvency of the flood insurance fund, and for other purposes; which was 
ordered to lie on the table; as follows:

       On page 44, strike line 8 and all that follows through page 
     45, line 10.
       On page 50, strike line 19 and all that follows through 
     page 51, line 2, and insert the following:
     related hazards; and

                          ____________________




    

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