Prohibits the Administrator of the Federal Emergency Management Agency (FEMA) from revising, updating, or publishing any flood insurance rate map under its Flood Map Modernization Program for any counties that are protected by a structure built or maintained by the Army Corps of Engineers unless the owner of, or the community protected by, such structure has been: (1) formally notified of any deficiencies in the structure; and (2) afforded seven years to rectify any deficiencies that would affect the flood insurance rate map for the area.
Prohibits the Administrator, until after such seven years, from: (1) requiring property owners in any such county who were not required to purchase flood insurance prior to the date of this Act's enactment to purchase such insurance; or (2) increasing the flood insurance premium for any such owners.