; and (2) the primary residence of a household whose income does not exceed 80 percent of the area median income, as determined by the Administrator in consultation with the Secretary of Housing and Urban Development. (c) Income determinations For purposes of the program under this section, the Administrator shall make determinations of household income on an annual basis. (d) Premium discounts Notwithstanding any provision of the National Flood Insurance Act of 1968, the chargeable premium rate for flood insurance coverage made available under the program under this section shall be an amount that does not exceed 2 percent of annual area median income for the area within which is located the property for which the coverage is provided. (e) Disclosure of full-Risk rate The Administrator shall provide to each policyholder purchasing flood insurance coverage under the program under this section for a property, not later than the commencement of the period of such coverage, a written statement setting forth the full actuarial premium rate for coverage for such property determined in accordance with section 1307(a)(1) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4014(a)(1) ), the amount of the premium discount for such coverage, and any other information the Director considers helpful to policyholders in understanding flood insurance coverage and costs. (f) Guidance Not later than the expiration of the 12-month period beginning on the date of the enactment of this Act, the Administrator shall issue guidance providing for the establishment of the demonstration program under this section, which shall include— (1) an estimation of the cost of the program stated in terms of the aggregate of premium discounts to be made available under the program; (2) a description of how the Administrator will determine eligibility for households to participate in the program; (3) any new requirements to which policyholders participating in the program will be subject