Small Business Surcharge Relief Act

II 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 Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Small Business Sur- 4 charge Relief Act’’. 5 SEC. 2. RELIEF FROM SURCHARGE. 6 Section 1308A(a) of the National Flood Insurance 7 Act of 1968 (42 U.S.C. 4015a(a)) is amended— 8 (1) in the first sentence, by striking ‘‘The Ad- 9 ministrator’’ and inserting the following: 10 VerDate Sep 11 2014 23:37 Jul 23, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S2172.IS S2172 kjohnson on DSK79L0C42 with BILLS 2 •S 2172 IS ‘‘(1) IN GENERAL.—Except as provided in para- 1 graph (2), the Administrator’’; and 2 (2) by adding at the end the following: 3 ‘‘(2) RELIEF FOR SMALL BUSINESSES AND 4 NONPROFITS.— 5 ‘‘(A) DEFINITION.—In this paragraph, the 6 term ‘covered small business or nonprofit orga- 7 nization’ means a small business concern (as 8 defined in section 3 of the Small Business Act 9 (15 U.S.C. 632)) or an organization that is de- 10 scribed in section 501(c)(3) of the Internal Rev- 11 enue Code of 1986 and is exempt from taxation 12 under section 501(a) of such Code that owns 13 not fewer than 3 structures that are located on 14 a single property. 15 ‘‘(B) RELIEF.—The Administrator may 16 not impose a surcharge under this section for a 17 policy for flood insurance coverage under the 18 National Flood Insurance Program for a cov- 19 ered small business concern or nonprofit organi- 20 zation with respect to more than 2 detached 21 units or buildings located on a single property 22 if the covered small business or nonprofit orga- 23 nization certifies to the Administrator that the 24 savings from the surcharge not being imposed 25 VerDate Sep 11 2014 23:37 Jul 23, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S2172.IS S2172 kjohnson on DSK79L0C42 with BILLS 3 •S 2172 IS shall be used for flood mitigation on the prop- 1 erty on which the units or buildings are lo- 2 cated.’’. 3 Æ VerDate Sep 11 2014 23:37 Jul 23, 2019 Jkt 089200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\S2172.IS S2172 kjohnson on DSK79L0C42 with BILLS