S. 2192
Referred to CommitteeState Flood Mitigation Revolving Fund Act of 2019
Latest Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4953-4954)
7/18/2019 • Senate
Summary
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.
Introduced in Senate • 7/18/2019
Topics & Subjects
Congressional Votes (0)
No recorded votes yet
Roll call votes will appear here as the bill moves through Congress
Related Federal Spending
Sponsor & Cosponsors (3)
Party Breakdown
Sponsor
Cosponsors (2)
Bill Journey
Originated in the Senate
Introduced
July 18, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4953-4954)
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law