mr. o'neil's case wasn't an isolated incident. a number of my constituents have been unable to close on their new homes, and it's my understanding that many throughout the country face a similar situation. this legislation, the underlying legislation, would rectify that problem and re-authorize the nfip through 2015. the bill provides premium discounts to assist residents in newly designated flood hazardous areas that would be subject to a new requirement to purchase flood insurance during a phase-in period of five years. other provisions include extelling the severe repetitivive loss grant program to reduce program losses in the long term. the bill also allows for premiums to be paid in installments for lower income property owners, thereby, helping them to afford flood insurance and encouraging them to continue to purchase protection. although i support the underlying bill, mr. speaker, it could have been better. especially if the taylor-scalise amendment had been made in order. their amendment would allow coastal homeowners to