The purpose of this legislation is to create a financial assistance program for policyholders of the National Flood Insurance Program (NFIP). The goal is to help those who may struggle to afford flood insurance premiums by providing discounts based on their income levels. Key provisions of the legislation include the establishment of a means-tested assistance program managed by the Federal Emergency Management Agency (FEMA). This program will offer graduated discounts on insurance costs for eligible policyholders.