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HR 6424 110th Congress House Emergency Management Disaster relief Economics and Public Finance Government lending Grants-in-aid Housing and Community Development Revolving funds

Property Mitigation Assistance Act of 2008

Introduced: June 26, 2008 Introduced by: Thompson, Bennie G. Democratic · Mississippi See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 27, 2008
Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
Jun 26, 2008
Referred to the House Committee on Transportation and Infrastructure.
Jun 26, 2008
Sponsor introductory remarks on measure. (CR E1374)
Jun 26, 2008
Introduced in House
 Plain-English summary Congressional Research Service

Property Mitigation Assistance Act of 2008 - Amends the Robert T. Stafford Disaster Assistance and Emergency Relief Act to direct the Administrator of the Federal Emergency Management Agency (FEMA) to establish a grant program to provide assistance to states to promote pre-disaster property mitigation measures within their jurisdictions.

Requires a state, to be eligible for assistance, to have: (1) submitted a mitigation plan; (2) established a process for accepting and processing grant and loan applications from individual homeowners and business owners; (3) established a revolving loan fund into which any grant amounts received under this Act shall be deposited; and (4) submitted a detailed plan for how terms and conditions for authorized loans and grants will be set.

Directs the Administrator to allocate grant amounts to eligible states according to a formula based on specified factors, including the nature and extent of potential hazards to property in the state, the number of properties at risk in the event that a hazard or natural disaster should occur, the amount of prior property damage incurred by the state during any previous hazard or natural disaster, and any available data on the future risk of occurrence of any hazard or natural disaster in a state.

Sets forth provisions regarding baseline amounts for eligible states and matching requirements.

Authorizes each state to make grants or loans to assist individual homeowners and businesses in undertaking pre-disaster property mitigation measures from a revolving loan fund established under this Act.

What's happening now June 27, 2008

Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.

 Committees of jurisdiction 2