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<br />1360 for the area in which such property is located, <br />whichever is later, shall not be less than the <br />applicable estimated risk premium rate for such area (or <br />subdivision thereof) under section 1307(a) (1). <br /> <br />(d) With respect to any chargeable premium rate <br />prescribed under this section, a sum equal to the <br />portion of the rate that covers any administrative <br />expenses of carrying out the flood insurance and <br />floodplain management programs which have been estimated <br />under paragraphs (1) (B) (ii) and (1) (B) (iii) of section <br />1307(a) or paragraph (2) of such section (including the <br />fees under such paragraphs), shall be paid to the <br />Director. The Director shall deposit the sum in the <br />National Flood Insurance Fund established under section <br />1310. <br /> <br />(e) 20 ANNuAL - LIMITATION ON PREMIUM INCREASES. -- <br />Notwithstanding any other provision of this title, the <br />chargeable risk premium rates for flood insurance under <br />this title for any properties within any single risk <br />classification may not be increased by an amount that <br />would result in the average of such rate increases for <br />properties within the risk classification during any 12- <br />month period exceeding 10 percent of the average of the <br />risk premium rates for properties within the risk <br />classification upon the commencement of such 12-month <br />period. <br /> <br />FINANeING <br /> <br />Sec. 1309. (a) All authority which was vested in the <br />Housing and Home Finance Administrator by virtue of <br />section 15 (e) of the Federal Flood Insurance Act of 1956 <br />(70 Stat. 1084) (pertaining to the issue of notes or <br />other obligations to the Secretary of the Treasury), as <br />amended by subsections (a) and (b) of section 1303 of <br />this Act shall be available to the Director for the <br />purpose of carrying out the flood insurance program <br />under this title; except that the total amount of notes <br />and obligations which may be issued by the Director <br />pursuant to such authority (1) without the approval of <br />the President, may not exceed $500,000,000, and (2) with <br /> <br />2OSec. 572, National Flood Insurance Reform Act of 1994, <br />Public Law 103-325, approved September 23, 1994, added <br />subsection (e). <br /> <br />32 <br /> <br />42 USC <br />4016 <br />