Directs the department of financial services to conduct a study on requiring homeowners in high-risk flood areas to obtain flood insurance

Authorizes and directs the department of financial services to conduct a study on the feasibility and impact of requiring homeowners in high-risk flood areas to obtain flood insurance as a condition of obtaining a homeowner's policy; requires a report of the findings and any legislative recommendations to the governor, the temporary president of the senate, the minority leader of the senate, the speaker of the assembly and the minority leader of the assembly.