Commission on Natural Disaster Risk Management and Insurance Act

(a) Appointment. The Commission shall be composed of—

(1) 8 members who shall have general knowledge and expertise in insurance, reinsurance, insurance regulation, policyholder concerns, emergency management, risk management, public finance, financial markets, actuarial analysis, flood mapping and planning, structural engineering, building standards, land use planning, natural disasters, meteorology, seismology, environmental issues, quantitative catastrophic risk modeling, or other pertinent qualifications, of which—

(A) 2 members shall be appointed by the majority leader of the Senate;

(B) 2 members shall be appointed by the minority leader of the Senate;

(C) 2 members shall be appointed by the Speaker of the House of Representatives; and

(D) 2 members shall be appointed by the minority leader of the House of Representatives;

(2) 8 members who shall have knowledge and expertise in insurance, reinsurance, policyholder concerns, risk management, financial markets, urban development or other pertinent financial services or housing qualifications, of which—

(A) 2 members shall be appointed by the Chair of the Committee on Banking, Housing, and Urban Affairs of the Senate;

(B) 2 members shall be appointed by the Ranking Member of the Committee on Banking, Housing, and Urban Affairs of the Senate;

(C) 2 members shall be appointed by the Chair of the Committee on Financial Services of the House of Representatives; and

(D) 2 members shall be appointed by the Ranking Member of the Committee on Financial Services of the House of Representatives;

(3) 8 members who shall have knowledge and expertise in disaster response and preparedness, emergency management, public financing, structural engineering, building standards, and other pertinent government response and investment qualifications, of which—

(A) 2 members shall be appointed by the Chair of the Committee on Transportation and Infrastructure of the House of Representatives;

(B) 2 members shall be appointed by the Ranking Member of the Committee on Transportation and Infrastructure of the House of Representatives;

(C) 2 members shall be appointed by the Chair of the Committee on Homeland Security and Governmental Affairs of the Senate; and

(D) 2 members shall be appointed by the Ranking Member of the Committee on Homeland Security and Governmental Affairs of the Senate; and

(4) 2 members who shall be State insurance commissioners, to be appointed by a selection process determined by the State insurance commissioners.

(b) Limitations. Members of the Commission appointed under—

(1) subsection (a)(1) through (a)(3) shall not be officers or employees of the United States Government or any State government; and

(2) subsection (a)(4) shall not be from the same political party.

(c) Period of appointment

(1) In general. Each member of the Commission shall—

(A) be appointed not later than 30 days after the date of the enactment of this Act; and

(B) serve for the duration of the Commission.

(2) Vacancies. A vacancy on the Commission—

(A) shall not affect the powers and duties of the Commission; and

(B) shall be filled in the same manner as the original appointment.

(d) Basic pay. Members of the Commission shall serve without pay.

(e) Quorum

(1) Majority. A majority of the members of the Commission shall constitute a quorum, but a lesser number, as determined by the Commission, may hold hearings.

(2) Approval actions. All recommendations and reports of the Commission required by this Act shall be approved only by a majority vote of all of the members of the Commission.

(f) Chairperson. The Commission shall, by majority vote of all of the members of the Commission, select 1 member of the Commission to serve as the Chairperson of the Commission.

(g) Meetings. The Commission shall meet at the call of the Chairperson of the Commission or a majority of the members of the Commission.

(h) Information

(1) Access

(A) In general. The Commission may enter into information-sharing agreements with Federal, State, local and Tribal government entities related to relevant information, including nonpublicly available data.

(B) Limitation. The Commission may not enter into an information sharing-agreement described in subparagraph (A) with respect to information that contains personal identifiable information.

(2) Confidentiality

(A) Retention of privilege. The sharing or submission of any nonpublicly available data and information to the Commission shall not constitute a waiver of, or otherwise affect, any privilege arising under Federal or State law (including the rules of any Federal or State court) to which the data or information is otherwise subject.

(B) Continued application of prior confidentiality agreements. Any requirement under Federal or State law to the extent otherwise applicable, or any requirement pursuant to a written agreement in effect between the original source of any nonpublicly available data or information and the source of such data or information to the Commission, regarding the privacy or confidentiality of any data or information in the possession of the source to the Commission, shall continue to apply to such data or information after the data or information has been provided to the Commission.

(3) Limitation. Nothing in this Act shall be construed to—

(A) require any Federal, State, local or Tribal government agency to share data or information to the Commission;

(B) authorize the Commission to require data or information from any stakeholder; or

(C) allow any Federal, State, local or Tribal government to collect information for which they do not already have for the sole purpose of the work of the Commission.

(i) Gifts. The Commission may not receive gifts to assist it in carrying out its duties without a specific authorization.