; and (D) contracting with private companies to obtain new data collections, such as building footprints, cadastral data, and elevation certificates, if that data may be included in the environment established under paragraph (1). (4) Letters of map change In coordination with States and communities that have successfully implemented a dynamic, database-derived digital display environment for flood hazard risk production and dissemination, the Administrator shall issue guidelines for the adoption and integration into the National Flood Mapping Program of remote sensing or other geospatial mapping technology-based letter of map amendment approaches. (g) Annual report The Administrator shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives an annual progress report regarding the mapping program under this section, including the digital display and structure-specific information required under subsection (f), which shall include recommendations to reduce the cost and improve the implementation of that subsection. . III Program improvements 301. Replacement cost in determining premium rates (a) Study of risk rating redesign flood insurance premium rating options; report (1) Study The Administrator shall conduct a study to— (A) evaluate best practices in the insurance industry for risk rating and classification, including practices that consider replacement cost value in premium rate estimations; and (B) with respect to the estimates of risk premium rates for flood insurance made by the Administrator under section 1307(a)(1) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4014(a)(1) )— (i) assess options, methods, and strategies for including replacement cost value in the estimates; (ii) provide recommendations for including replacement cost value in the estimates; (iii) identify an appropriate methodology to incorporate replacement cost value into the estimates