> The term "100-year flood" is used in an attempt to simplify the definition of a flood that statistically has a 1-percent chance of occurring in any given year. Likewise, the term "100-year storm" is used to define a rainfall event that statistically has this same 1-percent chance of occurring. In other words, over the course of 1 million years, these events would be expected to occur 10,000 times. But, just because it rained 10 inches in one day last year doesn't mean it can't rain 10 inches in one day again this year.

And it looks like these terms are based on past data not future projections:

> Since the 100-year flood level is statistically computed using past, existing data, as more data comes in, the level of the 100-year flood will change (especially if a huge flood hits in the current year). As more data are collected, or when a river basin is altered in a way that affects the flow of water in the river, scientists re-evaluate the frequency of flooding.