Title 42 — The Public Health and Welfare
Chapter 50 — National Flood Insurance
§ 4015a. Premium surcharge
Statutory text
Imposition and collection
The 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 section 4011(b) of this title and any other assessments and surcharges applied to such coverage.
Amount
The amount of the surcharge under subsection (a) shall be—
$25, except as provided in paragraph (2); and
$250, in the case of a policy for any property that is—
a non-residential property; or
a residential property that is not the primary residence of an individual.
Termination
Subsections (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 section 4014 of this title or section 4056 of this title or under section 100230 of the Biggert-Waters Flood Insurance Reform Act of 2012 (42 U.S.C. 4014 note), is not less than the applicable estimated risk premium rate under section 4014(a)(1) of this title for such property.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Housing and Urban Development Act of 1968
Pub. L. 90–448 title XIII § 1308A · 82 Stat. 476
Enacted · 42 U.S.C. § 4015a
(Pub. L. 90–448, title XIII, § 1308A, as added Pub. L. 113–89, § 8(a), Mar. 21, 2014, 128 Stat. 1023.)
Source evidence
Code source credit
(Pub. L. 90–448, title XIII, § 1308A, as added Pub. L. 113–89, § 8(a), Mar. 21, 2014, 128 Stat. 1023.)
0 of 1 references resolved to an enrolled provision · 1 partial
Editorial Notes
References in Text
This chapter, referred to in subsec. (c), was in the original a reference to “this title” meaning title XIII of Pub. L. 90–448, , 82 Stat. 572, 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 section 4001 of this title and Tables.
Section 100230 of the Biggert-Waters Flood Insurance Reform Act of 2012, referred to in subsec. (c), is section 100230 of Pub. L. 112–141, which is set out as a note under section 4014 of this title.
Credits
(Pub. L. 90–448, title XIII, § 1308A, as added Pub. L. 113–89, § 8(a), , 128 Stat. 1023.)