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HR 7037 115th Congress House Finance and Financial Sector 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

State Flood Mitigation Revolving Fund Act of 2018

Introduced: October 5, 2018 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 5, 2018
Referred to the House Committee on Financial Services.
Oct 5, 2018
Introduced in House
 Plain-English summary Congressional Research Service

State Flood Mitigation Revolving Fund Act of 2018

This bill amends the National Flood Insurance Act of 1968 to permit the Federal Emergency Management Agency (FEMA) to provide capitalization grants to states to 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.

What's happening now October 5, 2018

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 2 Republican 1