; (2) in paragraph (1), as so designated by the amendment made by paragraph (1) of this subsection, by striking the period at the end and inserting ; and ; and (3) by adding at the end the following new paragraph: (2) offer a reduction of the risk premium rate charged to a policyholder, as determined by the Administrator, if the policyholder implements any mitigation method described in paragraph (1). . 304. Coverage for cooperatives (a) Equal treatment with condominiums Section 1306 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4013 ) is amended by adding at the end the following: (e) Cooperative buildings Notwithstanding any other provision of law, the Administrator shall make flood insurance coverage available to any individual with a membership interest and occupancy agreement in a cooperative housing project on the same terms as any owner of a condominium. . (b) Payment of claims Section 1312 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4019 ) is amended— (1) in subsection (c)— (A) by striking flood insurance to condominium owners and inserting the following: flood insurance— (1) to condominium owners ; (B) by striking the period at the end and inserting ; or ; (C) by adding at the end the following: (2) to individuals with a membership interest and occupancy agreement in a cooperative housing project who purchased such flood insurance separate and apart from the flood insurance purchased by the cooperative association in which such individual is a member, based solely, or in any part, on the flood insurance coverage of the cooperative association or others on the overall property owned by the cooperative association.