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Damien McDonald stands in his Texas Surf Co. shop in Galveston, Texas on Thursday, March 20, 2014. McDonald nearly scrapped his plans to open a second surf shop in Galveston when he learned he'd have to pay more than $8,000 annually in flood insurance. President Barack Obama signed a law rolling back steep hikes that took effect almost overnight as a result of a 2012 law, but the legislation still imposes mandatory annual price increases of 25 percent on businesses and second homes until the owners switch from a subsidized rate to one based on the real risk of flooding. (AP Photo/Pat Sullivan)

Damien McDonald stands in his Texas Surf Co. shop in Galveston, Texas on Thursday, March 20, 2014. McDonald nearly scrapped his plans to open a second surf shop in Galveston when he learned he'd have to pay more than $8,000 annually in flood insurance. President Barack Obama signed a law rolling back steep hikes that took effect almost overnight as a result of a 2012 law, but the legislation still imposes mandatory annual price increases of 25 percent on businesses and second homes until the owners switch from a subsidized rate to one based on the real risk of flooding. (AP Photo/Pat Sullivan)

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