Act of 1956 ( 42 U.S.C. 2414(e) ), and outstanding as of the date of the enactment of this Act, is hereby cancelled, the Administrator and the National Flood Insurance Fund are relieved of all liability under any such notes or other obligations, including for any interest due, including capitalized interest, and any other fees and charges payable in connection with such notes and obligations. (2) Use of savings for flood mapping In addition to amounts otherwise available, for each of fiscal years 2024 and 2025, an amount equal to the interest the National Flood Insurance Program would have accrued from servicing the canceled debt under paragraph (1) in that fiscal year, which shall be derived from offsetting amounts collected under section 1310(d) of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4017(d) ) and shall remain available until expended for activities identified in section 100216 (b)(1)(A) of the Biggert-Waters Flood Insurance Reform Act of 2012 ( 42 U.S.C. 4101b(b)(1)(A) ) and related salaries and administrative expenses. (b) Means-Tested assistance for National Flood Insurance Program policyholders (1) Appropriation In addition to amounts otherwise available, there is appropriated to the Administrator of the Federal Emergency Management Agency for fiscal year 2024, out of any money in the Treasury not otherwise appropriated, $600,000,000, to remain available until September 30, 2028, to provide assistance to eligible policyholders in the form of graduated discounts for insurance costs with respect to covered properties. (2) Terms and conditions (A) Discounts The Administrator shall use funds provided under this subsection to establish graduated discounts available to eligible policyholders under this subsection, with respect to covered properties, which may be based on the following factors: (i) The percentage by which the household income of the eligible policyholder is equal to, or less than, 120 percent of the area median income for the area in which the property to which the policy applies