PROSPECTIVE PAYMENT OF FLOOD INSURANCE PREMIUMS.

SEC. 209. PROSPECTIVE PAYMENT OF FLOOD INSURANCE PREMIUMS. Section 1308 of the National Flood Insurance Act of 1968 (42 U.S.C. 4015) is amended by adding at the end the following:“(f) Adjustment of Premium.—Notwithstanding any other provision of law, if the Director determines that the holder of a flood insurance policy issued under this Act is paying a lower 118 STAT. 728 premium than is required under this section due to an error in the flood plain determination, the Director may only prospectively charge the higher premium rate.”.