except to other officers or employees of the Federal Government for their use in carrying out this joint resolution. Nothing in the preceding sentence shall authorize the withholding of information by the Secretary (or any officer or employee under his control) from the duly authorized committees of the Congress. TERMINATION SEC. 6. The authority of the Secretary under this joint resolution shall terminate ninety days after the submission of his final report under subsection (b) of the first section. APPROPRIATIONS AUTHORIZED SEC. 7. There are hereby authorized to be appropriated, without fiscal year limitation, such sums, not to exceed $2,000,000, as may be necessary to carry out the provisions of this joint resolution. Approved May 22, 1968. Executive Order 11447 INTERAGENCY ADVISORY COMMITTEE ON COMPENSATION FOR MOTOR VEHICLE ACCIDENT LOSSES By virtue of the authority vested in me by Section 4 of Public Law 90-313 (82 Stat. 127), and as President of the United States, it is ordered as follows: SECTION 1. The following are hereby appointed to the Interagency Advisory Committee on Compensation for Motor Vehicle Losses: Secretary of Transportation, Chairman Secretary of Commerce Secretary of Defense Secretary of Health, Education, and Welfare Secretary of Housing and Urban Development Secretary of Labor Secretary of the Treasury Attorney General Chairman of the Federal Trade Commission Chairman of the Interstate Commerce Commission Chairman of the Securities and Exchange Commission Administrator of Veterans Affairs SEC. 2. Each member of the Committee appointed in Section 1 hereof may appoint an alternate to represent him at Committee meetings which he is unable to attend. LYNDON B. JOHNSON. [F.B. Doc. 69-798; Filed, Jan. 16, 1969; 4:50 p.m.] § 1101 INSURANCE PROGRAMS HOUSING AND URBAN DEVELOPMENT ACT OF 1968 [Public Law 90-448, 82 Stat. 476, 555; 12 U.S.C. 1749bbb, 42 U.S.C. 4011] TITLE XI-URBAN PROPERTY PROTECTION AND REINSURANCE SHORT TITLE SEC. 1101. This title may be cited as the "Urban Property Protection and Reinsurance Act of 1968." FINDINGS AND DECLARATION OF PURPOSE SEC. 1102. (a) The Congress finds that (1) the vitality of many American cities is being threatened by the deterioration of their inner city areas; responsible owners of well-maintained residential, business, and other properties in many of these areas are unable to obtain adequate property insurance coverage against fire, crime, and other perils; the lack of such insurance coverage accelerates the deterioration of these areas by discouraging private investment and restricting the availability of credit to repair and improve property therein; and this deterioration poses a serious threat to the national economy; (2) recent riots and other civil commotion in many American cities have brought about abnormally high losses to the private property insurance industry for which adequate reinsurance cannot be obtained at reasonable cost, and the risk of such losses will make most lines of property insurance even more difficult to obtain; (3) the capacity of the private property insurance industry to provide adequate insurance is threatened, and the continuity of such property insurance protection is essential to the extension of credit in these areas; and (4) the national interest demands urgent action by the Congress to assure that essential lines of property insurance, including lines providing protection against riot and civil commotion damage will be available to property owners at reasonable cost. (b) The purposes of this title are, therefore, to (1) encourage and assist the various State insurance authorities and the property insurance industry to develop and carry out statewide programs which will make necessary property insurance coverage against the fire, crime, and other perils more readily available for residential, business, and other properties meeting reasonable underwriting standards; and (2) provide a Federal program of reinsurance against abnormally high property insurance losses resulting from riots and other civil commotion, placing appropriate financial responsibility upon the States to share in such losses. AMENDMENT OF THE NATIONAL HOUSING ACT SEC. 1103. The National Housing Act is amended by adding at the end thereof the following new title: TITLE XII-NATIONAL INSURANCE DEVELOPMENT PROGRAM PROGRAM AUTHORITY See National Housing Act, supra, for the provisions of Title XII. FEDERAL INSURANCE ADMINISTRATOR SEC. 1105. (a) There is hereby established in the Department of Housing and Urban Development the position of Federal Insurance Administrator. (b) Section 5315 of title 5, United States Code, is amended by adding at the end thereof the following new paragraph: "(91) Federal Insurance Administrator, Department of Housing and Urban Development." TITLE XIII-NATIONAL FLOOD INSURANCE SHORT TITLE SEC. 1301. This title may be cited as the "National Flood Insurance Act of 1968". FINDINGS AND DECLARATION OF PURPOSE SEC. 1302. (a) The Congress finds that (1) from time to time flood disasters have created personal hardships and economic distress which have required unforeseen disaster relief measures and have placed an increasing burden on the Nation's resources; (2) despite the installation of preventive and protective works and the adoption of other public programs designed to reduce losses caused by flood damage, these methods have not been sufficient to protect adequately against growing exposure to future flood losses; (3) as a matter of national policy, a reasonable method of sharing the risk of flood losses is through a program of flood insurance which can complement and encourage preventive and protective measures; and (4) if such a program is initiated and carried out gradually, it can be expanded as knowledge is gained and experience is appraised, thus eventually making flood insurance coverage available on reasonable terms and conditions to persons who have need for such protection. (b) The Congress also finds that (1) many factors have made it uneconomic for the private insurance industry alone to make flood insurance available to those in need of such protection on reasonable terms and conditions; but (2) a program of flood insurance with large-scale participation of the Federal Government and carried out to the maximum extent practicable by the private insurance industry is feasible and can be initiated. (c) The Congress further finds that (1) a program of flood insurance can promote the public interest by providing appropriate protection against the perils of flood losses and encouraging sound land use by minimizing exposure of property to flood losses; and (2) the objectíves of a flood insurance program should be integrally related to a unified national program for flood plain management and, to this end, it is the sense of Congress that within two years following the effective date of this title the President should transmit to the Congress for its consideration any further proposals necessary for such a unified program, including proposals for the allocation of costs among beneficiaries of flood protection. (d) It is therefore the purpose of this title to (1) authorize a flood insurance program by means of which flood insurance, over a period of time, can be made available on a nationwide basis through the cooperative efforts of the Federal Government and the private insurance industry, and (2) provide flexibility in the program so that such flood insurance may be based on workable methods of pooling risks, minimizing costs, and distributing burdens equitably among those who will be protected by flood insurance and the general public. (e) It is the further purpose of this title to (1) encourage State and local governments to make appropriate land use adjustments to constrict the development of land which is exposed to flood damage and minimize damage caused by flood losses, (2) guide the development of proposed future construction, where practicable, away from locations which are threatened by flood hazards, (3) encourage lending and credit institutions, as a matter of national policy, to assist in furthering the objectives of the flood insurance program, (4) assure that any Federal assistance provided under the program will be related closely to all flood-related programs and activities of the Federal Government, and (5) authorize continuing studies of flood hazards in order to provide for a constant reappraisal of the flood insurance program and its effect on land use requirements. (f) The Congress also finds that (1) the damage and loss which results from mudslides is related in cause and similar in effect to that which results directly from storms, deluges, overflowing waters, and other forms of flooding, and (2) the problems involved in providing protection against this damage and loss, and the possibilities for making such protection available through a Federal or federally sponsored program, are similar to those which exist in connection with efforts to provide protection against damage and loss caused by such other forms of flooding. It is therefore the further purpose of this title to make available, by means of the methods, procedures, and instrumentalities which are otherwise established or available under this title for purposes of the flood insurance program, protection against damage and loss resulting from mudslides that are caused by accumulations of water on or under the ground. AMENDMENTS TO THE FEDERAL FLOOD INSURANCE ACT OF 1956 SEC. 1303. (a) The second sentence of section 15 (e) of the Federal Flood Insurance Act of 1956 (79 Stat. 1078) is amended 1 Sec. 409 (a), Housing and Urban Development Act of 1969. Public Law 91-152, approved December 24, 1969, 83 Stat. 379, 397, added subsection (f). 2 Sec. 1303 repealed all of the Federal Flood Insurance Act of 1956 except section 15(e) of that Act which authorized borrowings from the United States Treasury for flood insurance purposes (see sec. 15(e), infra). See also section 1309, infra. 623 CHAPTER I-THE NATIONAL FLOOD INSURANCE PROGRAM BASIC AUTHORITY SEC. 1304. (a) To carry out the purposes of this title, the Secretary of Housing and Urban Development is authorized to establish and carry out a national flood insurance program which will enable interested persons to purchase insurance against loss resulting from physical damage to or loss of real property or personal property related thereto arising from any flood occurring in the United States. (b) In carrying out the flood insurance program the Secretary shall, to the maximum extent practicable, encourage and arrange for (1) appropriate financial participation and risk sharing in the program by insurance companies and other insurers, and (2) other appropriate participation, on other than a risk-sharing basis, by insurance companies and other insurers, insurance agents and brokers, and insurance adjustment organizations, in accordance with the provisions of chapter II. SCOPE OF PROGRAM AND PRIORITIES SEC. 1305. (a) In carrying out the flood insurance program the Secretary shall afford a priority to making flood insurance available to cover residential properties which are designed for the occupancy of from one to four families and business properties which are owned or leased and operated by small business concerns. (b) If on the basis of (1) studies and investigations undertaken and carried out and information received or exchanged under section 1307, and (2) such other information as may be necessary, the Secretary determines that it would be feasible to extend the flood insurance program to cover other properties, he may take such action under this title as from time to time may be necessary in order to make flood insurance available to cover, on such basis as may be feasible, any types and classes of (A) other residential properties, (B) other business properties, C) agricultural properties, (D) properties occupied by private nonprofit organizations, and (E) properties owned by State and local governments and agencies thereof, and any such extensions of the program to any types and classes of these properties shall from time to time be prescribed in regulations. (c) The Secretary shall make flood insurance available in only those States or areas (or subdivisions thereof) which he has determined have (1) evidenced a positive interest in securing flood insurance coverage under the flood insurance program, and (2) given satisfactory assurance that by December 31, 1971, adequate 1 land use and control measures will have been adopted for 1 1 Sec. 410 (a), Housing and Urban Development Act of 1969, Public Law 91-152, approved December 24, 1969, 83 Stat. 379, 397, substituted "December 31, 1971, adequate" for "June 30, 1970, permanent". |