Page:United States Statutes at Large Volume 95.djvu/445

 PUBLIC LAW 97-35—AUG. 13, 1981

95 STAT. 419

(2) Section 1336(a) of such Act is amended by striking out "Septem- 42 USC 4056. ber 30, 1981" and inserting in lieu thereof "September 30, 1982". (c)(1) Section 1310(a) of such Act is amended by inserting "as 42 USC 4017. described in subsection (f)" after "which shall be available". (2) Section 1310 of such Act is amended by adding the following new subsection at the end thereof: if) The fund shall be available, with respect to any fiscal year beginning on or after October 1, 1981, only to the extent approved in appropriation Acts; except that the fund shall be available for the purnose described in subsection (d)(1) without such approval.". (cD(l) Chapter I of such Act is amended by adding the following new section at the end thereof: UNDEVELOPED COASTAL BARRIERS

"SEC. 1321. (a) No new flood insurance coverage shall be provided under this title on or aiter October 1, 1983, for any new construction or substeuitial improvements of structures located on undeveloped coastal barriers which shall be designated by the Secretary of the Interior. "(b) For purposes of this section— "(1) the term 'coastal barrier* means— "(A) a depositional geolc^c feature (such as a bay barrier, tombolo, barrier spit, or beurier island) which— "(i) consists of unconsolidated sedimentary materials, "(ii) is subject to wave, tidal, and wind energies, and "(iii) protects landward aquatic habitats from direct wave attack; and "(B) all associated aquatic habitats including the adjacent wetlands, marshes, estuaries, inlets, and nearshore waters; "(2) a coastal barrier or any portion thereof shall be treated as an undeveloped coastal barrier for purposes of subsection (a) only if there are few manmade structures on the barrier or portion thereof and these structures and man's activities on the barrier do not significemtly impede geomorphic and ecological processes; and "(3) a coastal barrier which is included within the boundaries of an area established under Federal, State, or local law, or held by a qualified organization as defined in section 170(h)(3) of the Internal Revenue Code of 1954, primarily for wildlife refuge, sanctuary, recreational, or natural resource conservation purposes shall not be designated as an undeveloped coastal barrier for purposes of subsection (a). "(c) A federally insured financial institution may make loans secured by structures which are not eligible forfloodinsurance under this title by reason of subsection (a).". (2) The Secretary of the Interior shall conduct a study for the purpose of designating the undeveloped coastal barriers which will be affected by the amendment made by paragraph (1). Not later than one year after the date of enactment of this Act, the Secretary shall transmit to the Congress a report of the findings and conclusions of such study together with a proposed designation of the undeveloped coastal barriers and any recommendation regarding the definition of the term "coastal barrier" as enacted by such amendment. (e) Section 1345 of such Act is amended by adding at the end thereof the following: "(c) The Director of the Federal Emergency Management Agency shall hold any agent or broker selling or undert^ing to sell flood

42 USC 4028.

"eoastal barrier."

26 USC 170.

Study. 42 USC 4028 note. Report to Congress.

42 USC 4081.

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