Definitions

In this Act: (1) Administrator The term Administrator means the Administrator of the Federal Emergency Management Agency. (2) Covered property The term covered property means— (A) a primary residential dwelling; or (B) personal property relating to a dwelling described in subparagraph (A). (3) Eligible policyholder The term eligible policyholder means— (A) a person who— (i) is a national flood insurance program policyholder on or after the date of the enactment of this Act; and (ii) has a household income that is not more than 120 percent of the area median income for the area in which the property to which the policy applies is located; (B) a business with not more than 100 employees that— (i) is a national flood insurance program policyholder on or after the date of the enactment of this Act; and (ii) satisfies the hardship metric published by the Administrator under section 2; or (C) a not-for-profit organization that— (i) is a national flood insurance program policyholder on or after the date of the enactment of this Act; and (ii) satisfies the hardship metric published by the Administrator under section 2. (4) Insurance costs The term insurance costs means, with respect to a covered property for a year— (A) risk premiums and fees estimated under section 1307 of the National Flood Insurance Act of 1968 (42 U.S.C. 4014) and charged under section 1308 of such Act (42 U.S.C. 4015); (B) surcharges assessed under sections 1304 and 1308A of such Act (42 U.S.C. 4011, 4015a); and (C) any amount established under section 1310A(c) of such Act (42 U.S.C. 4017a).