Flood Insurance Reform Priorities Act of 2011

[AI summary unavailable — showing source text] Flood Insurance Reform Priorities Act of 2011 - Amends the National Flood Insurance Act of 1968 (NFIA) to extend through FY2016 the National Flood Insurance Program and the Pilot Program for Mitigation of Severe Repetitive Loss Properties. Increases maximum coverage limits. Provides a phase-in of actuarial rates for nonresidential properties and non-primary residences. Amends the Flood Disaster Protection Act of 1973 (FDPA) to delay for five years the effective date for the mandatory purchase of flood insurance for certain areas not previously designated as having special flood hazards. Amends NFIA to set forth a five-year phase-in of flood insurance rates for newly mapped areas not previously designated as having special flood hazards. Raises the annual limitation on premium increases. Considers any community that has made adequate progress on reconstruction or improvement of a flood protection system eligible for flood insurance premium rates not exceeding those which would be applicable if the flood protection system had been completed. Requires the availability of flood insurance coverage at discounted premiums for areas protected by a flood-protection system that does not prov…