1. Short title This Act may be cited as the Fair Flood Insurance Act of 2019 . 2. Monthly installment payment of premiums (a) Authority Subsection (g) of section 1308 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4015(g) ) is amended— (1) by striking the subsection designation and all that follows through With respect and inserting the following: (g) Frequency of premium collection (1) Options With respect ; and (2) by adding at the end the following: (2) Monthly installment payment of premiums (A) Exemption from rulemaking Until such time as the Administrator promulgates regulations implementing paragraph (1) of this subsection, the Administrator may adopt policies and procedures, notwithstanding any other provisions of law and in alignment and consistent with existing industry escrow and servicing standards, necessary to implement such paragraph without undergoing notice and comment rulemaking and without conducting regulatory analyses otherwise required by statute, regulation, or Executive order. (B) Pilot program The Administrator may initially implement paragraph (1) of this subsection as a pilot program that provides for a gradual phase-in of implementation. (C) Policyholder protection The Administrator may— (i) during the 12-month period beginning on the date of the enactment of this paragraph, charge policyholders choosing to pay premiums in monthly installments a fee for the total cost of the monthly collection of premiums not to exceed $25 annually