1. Short title This Act may be cited as the Flood and Agriculture Risk Management Cost Reduction Act of 2017 . 2. Requirements for State and local land use controls Subsection (a) of section 1315 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4022(a) ) is amended by adding at the end the following new paragraph: (3) Allowable local variances for certain agricultural structures (A) Requirement Notwithstanding any other provision of this Act— (i) the land use and control measures adopted pursuant to paragraph (1) may not, for purposes of such paragraph, be considered to be inadequate or inconsistent with the comprehensive criteria for land management and use under section 1361 because such measures provide that, in the case of any agricultural structure that is located in an area having special flood hazards, a variance from compliance with the requirements to elevate or floodproof such a structure and meeting the requirements of subparagraph (B) may be granted; and (ii) the Administrator may not suspend a community from participation in the national flood insurance program, or place such a community on probation under such program, because such land use and control measures provide for such a variance. This subparagraph shall not limit the ability of the Administrator to take enforcement action against a community that does not adopt adequate variance criteria or establish proper enforcement mechanisms. (B) Variance; considerations The requirements of this subparagraph with respect to a variance are as follows: (i) The variance is granted by an official from a duly constituted State or local zoning authority, or other authorized public body responsible for regulating land development or occupancy in flood-prone areas. (ii) In the case of new construction, such official has determined— (I) that neither floodproofing nor elevation of the new structure to the base flood elevation is practicable; and (II) that the structure is not located in— (aa) a designated regulatory floodway