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<br />the approval of the President may not exceed <br />$1,000,000,000. The Director shall report to the <br />Committee on Banking and CUrrency of the House of <br />Representatives and the eommittee on Banking, Housing, <br />and Urban Affairs of the Senate at any time when he <br />requests the approval of the President in accordance <br />with the preceding sentence. <br /> <br />(b) Any funds borrowed by the Director under this <br />authority shall, from time to time, be deposited in the <br />National Flood Insurance Fund established under section <br />1310. <br /> <br />NATIONAL FLOOD INSURANCE FUND <br /> <br />Sec. 1310. (a) To carry out the flood insurance <br />program authorized by this title, the Director shall <br />establish in the Treasury of the United States a <br />National Flood Insurance Fund (hereinafter referred to <br />as the "fund") which shall be an account separate from <br />any other accounts or funds available to the Director <br />and shall be available, as described in subsection (f) <br />without fiscal year limitation (except as otherwise <br />provided in this section)-- <br /> <br />(1) for making such payments as may, from time to <br />time, be required under section 1334; <br /> <br />(2) to pay reinsurance claims under the excess loss <br />reinsurance coverage provided under section 1335; <br /> <br />(3) to repay to the Secretary of the Treasury such <br />sums as may be borrowed from him (together with <br />interest) in accordance with the authority provided in <br />section 1309; <br /> <br />(4) to the extent approved in appropriations Acts, <br />to pay any administrative ,expenses of the flood <br />insurance and floodplain management programs (including <br />the costs of mapping activities under section 1360); <br /> <br />(5) for the purposes specified in subsection (d) <br />under the conditions provided therein; <br /> <br />33 <br /> <br />42 use <br />4017 <br />