Consideration of mitigation projects in flood insurance premium rates

(a) Estimated rates Section 1307(a)(1)(A)(ii) of the National Flood Insurance Act of 1968 (42 U.S.C. 4014(a)(1)(A)(ii)), as amended by section 207(b)(1) of this Act, is amended by inserting after section 1327 the following:, and any mitigation project carried out by the Army Corps of Engineers or under the community development block grant program for disaster recovery or mitigation, section 203 or 205 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5133, 5135), or the Building Resilient Infrastructure and Communities program of the Federal Emergency Management Agency. (b) Chargeable rates Section 1308(b)(1) of the National Flood Insurance Act of 1968 (42 U.S.C. 4015(b)(1)), as amended by section 207(b)(2) of this Act, is amended by inserting after section 1327 the following:, and any mitigation project carried out by the Army Corps of Engineers or under the community development block grant program for disaster recovery or mitigation, section 203 or 205 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5133, 5135), or the Building Resilient Infrastructure and Communities program of the Federal Emergency Management Agency.