WASINGTON, DC With the 2006 hurricane season approaching, the Senate Banking Committee today gave its stamp of approval to a bill that includes legislation authored by U.S. Senator Jack Reed (D-RI) to improve the maps the federal government uses to predict the risk of flooding to residents. Senator Reed's mapping legislation was included in the Committee approved Flood Insurance Reform and Modernization Act of 2006, and is a cornerstone of the bill."The federal government needs to provide Americans with the most accurate data that reflects coastal flooding hazards from hurricanes and other natural events," said Senator Reed. "Currently, federal coastal flood maps do not reflect the real flood hazard risks. Over 70 percent of the Federal Emergency Management Agency maps are over ten years old. In the case of Rhode Island, maps for many areas are over 20 years old. New development has altered watersheds and floodplains. Knowing if you need flood insurance can mean the difference between having no money to rebuild and having $250,000."FEMAs flood maps are the basic tools to determine flood hazard areas in the United States. Mortgage lending institutions use the maps to determine who is required to purchase flood insurance. Community planning officials, land developers, and engineers use the maps for designing new buildings and infrastructure to be safe from flooding.Reed stated, "It is imperative to evaluate how we plan, mitigate, and respond to natural disasters. Hurricanes and floods have occurred throughout history and will continue to occur. We must make sure that American families know their risk."Reeds legislation, the National Flood Mapping Act of 2005, would require the Federal Emergency Management Agency (FEMA) to modernize maps and update to include:" The 500-year floodplain;" Areas that could be inundated as a result of the failure of a levee or dam; and, " Areas that could be inundated by a coastal storm surge from a hurricane.The bill requires FEMA to work with local and state partners to ensure that maps are adequate to make flood risk determinations and useful in their effort to provide for development to reduce the risk of flooding. FEMA is also required to make the maps available on the agency's website in a digital, user-friendly format. The bill authorizes $400 million for FEMA flood mapping for each year from fiscal year 2006 to fiscal year 2012.Coastal development and its affects on floodplains are not accurately reflected in FEMA coastal flood maps. In addition, these maps do not include information on coastal flooding reflected in the Army Corps of Engineers inundation maps or the National Oceanic and Atmospheric Administration's coastal storm surge maps. This is important information needed by the public to assess their risks. The National Flood Insurance Program was created to minimize the damage and financial impact of floods with the public by making coastal flood insurance available on reasonable terms and encouraging its purchase. But, according to the RAND Corporation, participation rates in flood-prone areas reach just 50 percent. In a floodplain, a homeowner is more likely to have a flood than a fire. Yet, all homeowners have fire insurance.Examples of the discrepancy between FEMA flood maps and the Army Corps of Engineers analysis of potential flood danger can be found on Reeds flood mapping web page.