[Code of Federal Regulations]
[Title 44, Volume 1]
[Revised as of October 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 44CFR61.12]

[Page 271-272]
 
              TITLE 44--EMERGENCY MANAGEMENT AND ASSISTANCE
 
             CHAPTER I--FEDERAL EMERGENCY MANAGEMENT AGENCY
 
PART 61--INSURANCE COVERAGE AND RATES--Table of Contents
 
Sec. 61.12  Rates based on a flood protection system involving Federal funds.

    (a) Where the Administrator determines that a community has made 
adequate progress on the construction of a flood protection system 
involving Federal funds which will significantly limit the area of 
special flood hazards, the applicable risk premium rates for any 
property, located within a special flood hazard area intended to be 
protected directly by such system will be those risk premium rates which 
would be applicable when the system is complete.
    (b) Adequate progress in paragraph (a) of this section means that 
the community has provided information to the Administrator sufficient 
to determine that substantial completion of the flood protection system 
has been effected because:
    (1) 100 percent of the total financial project cost of the completed 
flood protection system has been authorized;
    (2) At least 60 percent of the total financial project cost of the 
completed flood protection system has been appropriated;
    (3) At least 50 percent of the total financial project cost of the 
completed flood protection system has been expended;
    (4) All critical features of the flood protection system, as 
identified by the Administrator, are under construction, and each 
critical feature is 50 percent completed as measured by the actual 
expenditure of the estimated construction budget funds; and
    (5) The community has not been responsible for any delay in the 
completion of the system.
    (c) Each request by a community for a determination must be 
submitted in writing to the Risk Studies Division, Office of Risk 
Assessment, Federal Insurance Administration, Federal Emergency 
Management Agency, Washington DC, and contain a complete statement of 
all relevant facts relating to the flood protection system, including, 
but not limited to, supporting technical data (e.g., U.S. Army Corps of 
Engineers flood protection project data), cost schedules, budget 
appropriation data and the extent of Federal funding of the system's 
construction. Such facts shall include information sufficient to 
identify all persons affected by such flood protection system or by such 
request: A full and precise statement of intended purposes of the flood 
protection system; and a carefully detailed description of such project, 
including construction completion target dates. In addition, true copies 
of all contracts, agreements, leases, instruments, and other documents 
involved must be submitted with the request. Relevant facts reflected in 
documents, however, must be included in the statement and not merely 
incorporated by reference, and must be accompanied by an analysis of 
their bearing on the requirements of paragraph (b) of this section, 
specifying the pertinent provisions. The request must contain a 
statement whether, to the best of the knowledge of the person 
responsible for preparing the application for the community, the flood 
protection system is currently the subject matter of litigation before 
any Federal, State or local court or administrative agency, and the 
purpose of that litigation. The request must also contain a statement as 
to whether the community has previously requested a determination with 
respect to the same subject matter from the Administrator, detailing

[[Page 272]]

the disposition of such previous request. As documents become part of 
the file and cannot be returned, the original documents should not be 
submitted.
    (d) The effective date for any risk premium rates established under 
this section shall be the date of final determination by the 
Administrator that adequate progress toward completion of a flood 
protection system has been made in a community.
    (e) A responsible official of a community which received a 
determination that adequate progress has been made towards completion of 
a flood protection system shall certify to the Administrator annually on 
the anniversary date of receipt of such determination that no present 
delay in completion of the system is attributable to local sponsors of 
the system, and that a good faith effort is being made to complete the 
project.
    (f) A community for which risk premium rates have been made 
available under section 1307(e) of the National Flood Insurance Act of 
1968, as amended, shall notify the Administrator if, at any time, all 
progress on the completion of the flood protection system has been 
halted or if the project for the completion of the flood protection 
system has been canceled.

[43 FR 2570, Jan. 17, 1978, Redesignated at 44 FR 31177, May 31, 1979, 
as amended at 47 FR 43061 Sept. 30, 1982; 48 FR 39069, Aug. 29, 1983; 48 
FR 44552, Sept. 29, 1983; 49 FR 4751, Feb. 8, 1984; 51 FR 30310, Aug. 
25, 1986]