; and (B) adjust and pay claims arising under the contracts described in subparagraph (A). . 4. Extension of national flood insurance program (a) Financing Section 1309(a) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4016(a) ) is amended, in the first sentence, by striking September 30, 2017 and inserting September 30, 2027 . (b) Program expiration Section 1319 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4026 ) is amended by striking September 30, 2017 and inserting September 30, 2027 . I Enhancing the Solvency and Sustainability of the National Flood Insurance Program 101. Risk transfer Section 1345 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4081 ) is amended by striking subsection (e) and inserting the following: (e) Risk transfer (1) In general The Administrator shall annually transfer a portion of the risk associated with the flood insurance program to the private reinsurance or capital markets— (A) if the Administrator has determined that the rates and terms of the transfer are reasonable and appropriate; and (B) in an amount that is sufficient to— (i) maintain the ability of the program to pay claims; and (ii) limit the exposure of the program to potential catastrophic losses from extreme events. (2) Forms of transfer In carrying out paragraph (1), the Administrator shall consider all forms of risk transfer, including traditional reinsurance, catastrophe bonds, collateralized reinsurance, resilience bonds, and other insurance-linked securities, in order to— (A) maximize pricing competition and the diversity of sources of capital