Skip to main content
S 1507 115th Congress Senate 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 2017

Introduced: June 29, 2017 Introduced by: Reed, Jack Democratic · Rhode Island See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 29, 2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S3862-3863)
Jun 29, 2017
Introduced in Senate
 Plain-English summary Congressional Research Service

State Flood Mitigation Revolving Fund Act of 2017

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 June 29, 2017

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S3862-3863)

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