; or (B) on the date of the receipt by the Administrator of the request for cancellation, if the request for such cancellation was received by the Administrator after the expiration of the 6-month period beginning on the effective date of the new policy. (3) Prohibition of refunds for properties receiving increased cost of compliance claims No premium amounts paid for coverage made available under this title may be refunded pursuant to this subsection— (A) with respect to coverage for any property for which measures have been implemented using amounts received pursuant to a claim under increased cost of compliance coverage made available pursuant to section 1304(b); or (B) if a claim has been paid or is pending under the policy term for which the refund is sought. . 204. GAO study of flood damage savings accounts (a) In general The Comptroller General of the United States shall conduct a study to analyze the feasibility and effectiveness, and problems involved, in reducing flood insurance premiums and eliminating the need for purchase of flood insurance coverage by authorizing owners of residential properties to establish flood damage savings accounts described in subsection (b) in lieu of complying with the mandatory requirements under section 102 of the Flood Disaster Protection Act of 1973 ( 42 U.S.C. 4012a ) to purchase flood insurance for such properties. (b) Flood damage savings account A flood damage savings account described in this subsection is a savings account— (1) that would be established by an owner of residential property with respect to such property in accordance with requirements established by the Administrator of the Federal Emergency Management Agency