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Senate Bill 2172
116th Congress(2019-2020)
Small Business Surcharge Relief Act
Introduced
Introduced
Introduced in Senate on Jul 18, 2019
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Introduced in Senate 
Jul 18, 2019
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Introduced in Senate(Jul 18, 2019)
Jul 18, 2019
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Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
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S. 2172 (Introduced-in-Senate)


116th CONGRESS
1st Session
S. 2172


To amend the National Flood Insurance Act of 1968 to provide relief from surcharges to small businesses and nonprofit organizations.

IN THE SENATE OF THE UNITED STATES

July 18, 2019

Mr. Wicker introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To amend the National Flood Insurance Act of 1968 to provide relief from surcharges to small businesses and nonprofit organizations.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Small Business Surcharge Relief Act”.

SEC. 2. Relief from surcharge.

Section 1308A(a) of the National Flood Insurance Act of 1968 (42 U.S.C. 4015a(a)) is amended—

(1) in the first sentence, by striking “The Administrator” and inserting the following:

“(1) IN GENERAL.—Except as provided in paragraph (2), the Administrator”; and

(2) by adding at the end the following:

“(2) RELIEF FOR SMALL BUSINESSES AND NONPROFITS.—

“(A) DEFINITION.—In this paragraph, the term ‘covered small business or nonprofit organization’ means a small business concern (as defined in section 3 of the Small Business Act (15 U.S.C. 632)) or an organization that is described in section 501(c)(3) of the Internal Revenue Code of 1986 and is exempt from taxation under section 501(a) of such Code that owns not fewer than 3 structures that are located on a single property.

“(B) RELIEF.—The Administrator may not impose a surcharge under this section for a policy for flood insurance coverage under the National Flood Insurance Program for a covered small business concern or nonprofit organization with respect to more than 2 detached units or buildings located on a single property if the covered small business or nonprofit organization certifies to the Administrator that the savings from the surcharge not being imposed shall be used for flood mitigation on the property on which the units or buildings are located.”.