Page:United States Statutes at Large Volume 108 Part 3.djvu/530

 108 STAT. 2282 PUBLIC LAW 103-325—SEPT. 23, 1994 (B) the denial of flood insurance for all structures in communities listed pursuant to subsection (a)(1); (C) the denial of flood insurance for structures that are newly constructed in whole in communities listed pursuant to subsection (a)(1); (D) the establishment of (i) actuarial rates for existing structures in communities listed pursuant to subsection / (a)( 1), and (ii) actuarial rates for such structures in connection with the denial of flood insurance as described in subparagraph (C); (E) the establishment of actuarial rates for structures newly constructed in whole in erosion hazard areas in communities listed pursuant to subsection (a)(1); (F) the denial of flood insurance pursuant to existing requirements for coverage under the national flood insurance program; (G) erosion hazard assessment, measurement, and management activities undertaken by State and local governments, including building restrictions, beach nourishment, construction of sea walls and levees, and other activities that reduce the risk of damage due to erosion; and (H) the mapping and identifying of communities (or subdivisions thereof) having erosion hazard areas. (2) SCOPE. —In assessing the economic impact of the activities under subparagraphs (A) through (H) of paragraph (1), the assessment under subsection (a)(4) shall address such impact on all significant economic factors, including the impact on— (A) the value of residential and commercial properties in communities with erosion hazards; (B) community tax revenues due to potential changes in property values or commercial activity; (C) employment, including the potential loss or gain of existing and new jobs in the community; (D) existing businesses and future economic development; (E) the estimated cost of Federal and State disaster assistance to flood victims; and (F) the mapping and identifying of communities (or subdivisions thereof) having erosion hazard areas. (3) PREPARATION. — The assessment required under subsection (a)(4) shall be conducted by a private independent entity selected by the Director. The private entity shall consult with a statistically valid and representative number of communities listed pursuant to subsection (a)(1) in conducting the assessment. (d) COSTS AND BENEFITS OF MAPPING. —The determination under subsection (a)(5) shall— (1) determine the costs and benefits of mapping erosion hazard areas, based upon the Director's estimate of the actual and prospective amount of flood insurance claims attributable to erosion; (2) if the Director determines that the savings to the National Flood Insurance Fund will exceed the cost of mapping erosion hazard areas, further assess whether using flood insurance premiums for costs of mapping erosion hazard areas is

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