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36 <br />1 a particular area of special flood hazards, and that is par - <br />2 ticipating in the National Flood Insurance Program.". <br />3 (b) REGULATIONS,—Not later than 6 months after <br />4 date of enactment of this Act, the Director of the Federal <br />5 Emergency Management Agency shall issue regulations <br />6 implementing section 1367 of the National Flood Insur- <br />7 ance Act of 1968, as added by subsection (a). <br />8 SEC. 404. REPEAL OF PROGRAM FOR PURCHASE OF CER. <br />9 TAIN INSURED PROPERTIES. <br />10 (a) REPEAL.—Section 1362 of the National Flood In - <br />11 surance Act of 1968 (42 U.S.C. 4103) is repealed. <br />12 (b) TRANsITIom—Notwithstanding the repeal under <br />13 subsection (a), the Director of the Federal Emergency <br />14 Management Agency may continue to purchase property <br />15 under subsections (a) and (b) of section 1362 of the Na - <br />16 tional Flood Insurance Act of 1968, as such section ex - <br />17 isted immediately before the date of enactment of this Act, <br />18 for a period of 1 year beginning on the date of enactment <br />19 of this Act. <br />20 SEC. 405. TERMINATION OF EROSION THREATENED STRUC. <br />21 TURES PROGRAM. <br />22 (a) IN GENERAL.—Section 1306 of the National <br />23 Flood Insurance Act of 1968 (42 U.S.C. 4013) is amended <br />24 by striking subsection (c). <br />