; (4) identifies the proposals, if any, that contain rates and terms that satisfy the requirements of subparagraphs (A) and (B) of paragraph (3); and (5) describes the extent to which the proposals described in paragraph (4) would minimize the likelihood that the Disaster Relief Fund would require emergency supplemental appropriations. (d) Authority To implement (1) In general The Administrator may annually transfer a portion of the risk of the payments that may be made pursuant to this section to private insurance, reinsurance, or the capital markets, or any combination thereof, pursuant to the rates and terms of any proposals described in subsection (c)(4), if the Administrator determines that transferring such a portion is in the public interest. (2) Applicability of Federal Acquisition Regulation Any transfer of risk pursuant to paragraph (1) may be entered into without regard to the provisions of chapter 1 of title 48, Code of Federal Regulations. (3) Expiration of authority The authority described in paragraph (1) expires 5 years after the date on which the Administrator first transfers a portion of risk pursuant to such paragraph. (4) Multiyear contracts Nothing in this subsection may be construed to prevent or prohibit the Administrator from entering into contracts having a duration longer than 1 year. (e) Report Not later than 6 months after the date on which the Administrator identifies a proposal that contains rates and terms that satisfy the requirements of subparagraphs (A) and (B) of subsection (c)(3), the Administrator shall submit to Congress a report detailing— (1) whether the Administrator adopted the proposal; and (2) the reasons the Administrator adopted or did not adopt such proposal. .