To require a study of voluntary community-based flood insurance options and how such options could be incorporated into the national flood insurance program, and for other purposes.

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Directs the Administrator of the Federal Emergency Management Agency (FEMA) to study and report to Congress on options, methods, and strategies for making voluntary community-based flood insurance policies available through the National Flood Insurance Program, including a strategy to implement options that would encourage communities to undertake flood mitigation activities.

Directs the Comptroller General (GAO) to submit to Congress an analytical review of the FEMA report, including recommendations.