; and (2) by adding at the end the following: (2) Collection on private policies (A) In general An insurance company that issues a policy for private flood insurance shall impose and collect an annual surcharge, in the amount provided in subsection (b), on a private flood insurance policy. (B) In addition to increased cost of compliance surcharge The surcharge imposed under subparagraph (A) shall be in addition to the surcharge imposed under section 1304(c) and any other assessments and surcharges applied to such coverage. (C) Federal equivalency fee payable to administrator Not later than 180 days after the date on which an insurance company collects a surcharge under subparagraph (A), the insurance company shall transfer the amount of the surcharge to the Administrator, who shall deposit the amount in the National Flood Insurance Fund established under section 1310. (D) Information The Administrator may require the provision of such information as the Administrator decides is necessary to verify that a surcharge imposed and collected under subparagraph (A) has been imposed and collected at the proper time and in the proper amount. (E) Cost of collecting surcharge No portion of the surcharge collected under subparagraph (A) may be retained by the insurance company for the costs of collecting, handling, or remitting the surcharge except for interest accruing to the company after collection and before remittance. . (b) Federal policy fee Section 1307(a) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4014(a) ) is amended— (1) in paragraph (1)(B)(iii), by striking shall be recovered by and all that follows and inserting “shall be recovered— (I) in the case of a policy under the national flood insurance program, by a fee that— (aa) shall be charged to policyholders; and (bb) shall not be subject to any agents’ commissions, company expense allowances, or State or local premium taxes; and (II) in the case of a private flood insurance policy, by a fee— (aa) that shall be— (AA) charged to policyholders