This bill was signed into law by the President on March 21, 2014. This law repeals FEMA’s authority to increase premium rates at a time of sale or new flood map, and refunds the excessive premium to those who brought a property before FEMA warned them of the rate increase. The bill limits premium increases to 18% annually on newer properties and 25% for some older ones. Additionally, the bill adds a small assessment on policies until everyone is paying full costs for flood insurance.
For detailed information Google H.R. 3370 for the complete bill.