REPAYMENT PLAN FOR BORROWING AUTHORITY.

SEC. 100213. REPAYMENT PLAN FOR BORROWING AUTHORITY. (a) Repayment Plan Required.—Section 1309 of the National Flood Insurance Act of 1968 (42 U.S.C. 4016) is amended by adding at the end the following: “(c) Upon the exercise of the authority established under subsection (a), the Administrator shall transmit a schedule for repayment of such amounts to— “(1) the Secretary of the Treasury; “(2) the Committee on Banking, Housing, and Urban Affairs of the Senate; and “(3) the Committee on Financial Services of the House of Representatives. “(d) In connection with any funds borrowed by the Administrator under the authority established in subsection (a), the Administrator, beginning 6 months after the date on which such funds are borrowed, and continuing every 6 months thereafter until such borrowed funds are fully repaid, shall submit a report on the progress of such repayment to— “(1) the Secretary of the Treasury; “(2) the Committee on Banking, Housing, and Urban Affairs of the Senate; and “(3) the Committee on Financial Services of the House of Representatives.” . (b) Report.—Not later than the expiration of the 6-month period beginning on the date of enactment of this Act, the Administrator shall submit a report to the Congress setting forth options for repaying within 10 years all amounts, including any amounts previously borrowed but not yet repaid, owed pursuant to clause (2) of subsection (a) of section 1309 of the National Flood Insurance Act of 1968 (42 U.S.C. 4016(a)(2)).