; and (B) be calculated using the rate of return on a 3-year Treasury bill, as in effect on the date described in subparagraph (A). (3) Notification upon denial of appeal If the Director denies an appeal filed by a policyholder under this section, the Director shall include with the notice of denial— (A) an explanation of the legal options of the policyholder for further challenging the denial; and (B) the date on which the period of limitation for instituting an action on the claim under section 1333 or 1341 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4053 and 4072), as applicable, will end. (e) Optional arbitration (1) In general Not later than 180 days after the date of enactment of this subsection, the Director shall, by regulation, establish a process through which a flood insurance policyholder, instead of submitting an appeal under this section, may request that the appeal be heard through independent, binding arbitration. (2) Rule of construction Nothing in paragraph (1) may be construed to— (A) require a policyholder to submit to the arbitration described in that paragraph