State Flood Mitigation Revolving Fund Act of 2019
- Last Action
- 3/7/2019
Actions
- 2019-03-07Referred to the House Committee on Financial Services.
- 2019-03-07Introduced in House
- 2019-03-07Introduced in House
CRS Summary
As of 2019-03-07 (00)
State Flood Mitigation Revolving Fund Act of 2019
This bill permits the Federal Emergency Management Agency (FEMA) to provide capitalization grants to states. These grants must establish revolving funds to address flood risks. Revolving funds may be used to provide (1) financial assistance to participants in the National Flood Insurance Program, including homeowners, businesses, nonprofit organizations, and local governments; or (2) support for leveraged loans or state bonds. Financial assistance may be used for elevation projects, flood-proofing activities, relocation or removal of buildings, environmental restoration, acquiring property, obtaining protective easements, and other activities identified by FEMA.
States must annually submit to FEMA a plan that identifies the intended uses of the state loan fund.
States may provide additional subsidies to low-income homeowners and recipients of financial assistance in low-income areas.
Cosponsors (20)
- Roger Williams (R-TX)
- Al Lawson (D-FL)
- Joe Wilson (R-SC)
- Kathleen Rice (D-NY)
- Jesus Garcia (D-IL)
- Earl Carter (R-GA)
- David Scott (D-GA)
- Joe Cunningham (D-SC)
- Rob Woodall (R-GA)
- Vicente Gonzalez (D-TX)
- Henry Johnson (D-GA)
- RON KIND (D-WI)
- ALCEE HASTINGS (D-FL)
- Steve Cohen (D-TN)
- Angie Craig (D-MN)
- Brian Fitzpatrick (R-PA)
- Madeleine Dean (D-PA)
- DAVID PRICE (D-NC)
- Daniel Meuser (R-PA)
- Matt Cartwright (D-PA)
Subjects
- Building construction
- Disaster relief and insurance
- Emergency planning and evacuation
- Floods and storm protection
- Government lending and loan guarantees
- Housing finance and home ownership
- Low- and moderate-income housing
- Securities
- State and local finance
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.