US SB1507 | 2017-2018 | 115th Congress

Status

Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Introduced on June 29 2017 - 25% progression, died in committee
Action: 2017-06-29 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S3862-3863)
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Summary

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.

Tracking Information

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Title

State Flood Mitigation Revolving Fund Act of 2017

Sponsors


History

DateChamberAction
2017-06-29SenateRead twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S3862-3863)

Same As/Similar To

HB7037 (Related) 2018-10-05 - Referred to the House Committee on Financial Services.

Subjects


US Congress State Sources


Bill Comments

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