HR 501 — Promoting Resilient Buildings Act of 2025

changes in existing law made by 
the bill, as reported, are shown as follows (existing law 
proposed to be omitted is enclosed in black brackets, new 
matter is printed in italics, and existing law in which no 
change is proposed is shown in roman):

 ROBERT T. STAFFORD DISASTER RELIEF AND EMERGENCY ASSISTANCE ACT

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TITLE II--DISASTER PREPAREDNESS AND MITIGATION ASSISTANCE

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SEC. 203. PREDISASTER HAZARD MITIGATION.

 (a) Definition of Small Impoverished Community.--In this 
section, the term ``small impoverished community'' means a 
community of 3,000 or fewer individuals that is economically 
disadvantaged, as determined by the State in which the 
community is located and based on criteria established by the 
President.
 (b) Establishment of Program.--The President may establish a 
program to provide technical and financial assistance to States 
and local governments to assist in the implementation of 
predisaster hazard mitigation measures that are cost-effective 
and are designed to reduce injuries, loss of life, and damage 
and destruction of property, including damage to critical 
services and facilities under the jurisdiction of the States or 
local governments.
 (c) Approval by President.--If the President determines that 
a State or local government has identified natural disaster 
hazards in areas under its jurisdiction and has demonstrated 
the ability to form effective public-private natural disaster 
hazard mitigation partnerships, the President, using amounts in 
the National Public Infrastructure Predisaster Mitigation Fund 
established under subsection (i) (referred to in this section 
as the ``Fund''), may provide technical and financial 
assistance to the State or local government to be used in 
accordance with subsection (e).
 (d) State Recommendations.--
 (1) In general.--
 (A) Recommendations.--The Governor of each 
 State may recommend to the President not fewer 
 than five local governments to receive 
 assistance under this section.
 (B) Deadline for submission.--The 
 recommendations under subparagraph (A) shall be 
 submitted to the President not later than 
 October 1, 2001, and each October 1st 
 thereafter or such later date in the year as 
 the President may establish.
 (C) Criteria.--In making recommendations 
 under subparagraph (A), a Governor shall 
 consider the criteria specified in subsection 
 (g).
 (2) Use.--
 (A) In general.--Except as provided in 
 subparagraph (B), in providing assistance to 
 local governments under this section, the 
 President shall select from local governments 
 recommended by the Governors under this 
 subsection.
 (B) Extraordinary circumstances.--In 
 providing assistance to local governments under 
 this section, the President may select a local 
 government that has not been recommended by a 
 Governor under this subsection if the President 
 determines that extraordinary circumstances 
 justify the selection and that making the 
 selection will further the purpose of this 
 section.
 (3) Effect of failure to nominate.--If a Governor of 
 a State fails to submit recommendations under this 
 subsection in a timely manner, the President may 
 select, subject to the criteria specified in subsection 
 (g), any local governments of the State to receive 
 assistance under this section.
 (e) Uses of Technical and Financial Assistance.--
 (1) In general.--Technical and financial assistance 
 provided under this section--
 (A) shall be used by States and local 
 governments principally to implement 
 predisaster hazard mitigation measures that are 
 cost-effective and are described in proposals 
 approved by the President under this section; 
 and
 (B) may be used--
 (i) to support effective public-
 private natural disaster hazard 
 mitigation partnerships;
 (ii) to improve the assessment of a 
 community's vulnerability to natural 
 hazards;
 (iii) to establish hazard mitigation 
 priorities, and an appropriate hazard 
 mitigation plan, for a community; or
 (iv) to establish and carry out 
 enforcement activities and implement 
 the latest published editions of 
 relevant consensus-based codes, 
 specifications, and standards that 
 incorporate the latest hazard-resistant 
 designs and establish minimum 
 acceptable criteria for the design, 
 construction, and maintenance of 
 residential structures and facilities 
 that may be eligible for assistance 
 under this Act for the purpose of 
 protecting the health, safety, and 
 general welfare of the buildings' users 
 against disasters.
 (2) Dissemination.--A State or local government may 
 use not more than 10 percent of the financial 
 assistance received by the State or local government 
 under this section for a fiscal year to fund activities 
 to disseminate information regarding cost-effective 
 mitigation technologies.
 (f) Allocation of Funds.--
 (1) In general.--The President shall award financial 
 assistance under this section on a competitive basis 
 for mitigation activities that are cost effective and 
 in accordance with the criteria in subsection (g).
 (2) Minimum and maximum amounts.--In providing 
 financial assistance under this section, the President 
 shall ensure that the amount of financial assistance 
 made available to a State (including amounts made 
 available to local governments of the State) for a 
 fiscal year--
 (A) is not less than the lesser of--
 (i) $575,000; or
 (ii) the amount that is equal to 1 
 percent of the total funds appropriated 
 to carry out this section for the 
 fiscal year; and
 (B) does not exceed the amount that is equal 
 to 15 percent of the total funds appropriated 
 to carry out this section for the fiscal year.
 (3) Redistribution of unobligated amounts.--The 
 President may--
 (A) withdraw amounts of financial assistance 
 made available to a State (including amounts 
 made available to local governments of a State) 
 under this subsection that remain unobligated 
 by the end of the third fiscal year after the 
 fiscal year for which the amounts were 
 allocated; and
 (B) in the fiscal year following a fiscal 
 year in which amounts were withdrawn under 
 subparagraph (A), add the amounts to any other 
 amounts available to be awarded on a 
 competitive basis pursuant to paragraph (1).
 (g) Criteria for Assistance Awards.--In determining whether 
to provide technical and financial assistance to a State or 
local government under this section, the President shall 
provide financial assistance only in States that have received 
a major disaster declaration in the previous 7 years, or to any 
Indian tribal government located partially or entirely within 
the boundaries of such States, and take into account--
 (1) the extent and nature of the hazards to be 
 mitigated;
 (2) the degree of commitment of the State or local 
 government to reduce damages from future natural 
 disasters;
 (3) the degree of commitment by the State or local 
 government to support ongoing non-Federal support for 
 the hazard mitigation measures to be carried out using 
 the technical and financial assistance;
 (4) the extent to which the hazard mitigation 
 measures to be carried out using the technical and 
 financial assistance contribute to the mitigation goals 
 and priorities established by the State;
 (5) the extent to which the technical and financial 
 assistance is consistent with other assistance provided 
 under this Act;
 (6) the extent to which prioritized, cost-effective 
 mitigation activities that produce meaningful and 
 definable outcomes are clearly identified;
 (7) if the State or local government has submitted a 
 mitigation plan under section 322, the extent to which 
 the activities identified under paragraph (6) are 
 consistent with the mitigation plan;
 (8) the opportunity to fund activities that maximize 
 net benefits to society;
 (9) the extent to which assistance will fund 
 mitigation activities in small impoverished 
 communities;
 (10) the extent to which the State, local, Indian 
 tribal, or territorial government has facilitated the 
 adoption and enforcement of the latest published 
 editions of relevant consensus-based codes, 
 specifications, and standards, including amendments 
 made by State, local, Indian tribal, or territorial 
 governments during the adoption process that 
 incorporate the latest hazard-resistant designs and 
 establish criteria for the design, construction, and 
 maintenance of residential structures and facilities 
 that may be eligible for assistance under this Act for 
 the purpose of protecting the health, safety, and 
 general welfare of the buildings' users against 
 disasters;
 (11) the extent to which the assistance will fund 
 activities that increase the level of resiliency; and
 (12) such other criteria as the President establishes 
 in consultation with State and local governments.
 (h) Federal Share.--
 (1) In general.--Financial assistance provided under 
 this section may contribute up to 75 percent of the 
 total cost of mitigation activities approved by the 
 President.
 (2) Small impoverished communities.--Notwithstanding 
 paragraph (1), the President may contribute up to 90 
 percent of the total cost of a mitigation activity 
 carried out in a small impoverished community.
 (i) National Public Infrastructure Predisaster Mitigation 
Assistance.--
 (1) In general.--The President may set aside from the 
 Disaster Relief Fund, with respect to each major 
 disaster, an amount equal to 6 percent of the estimated 
 aggregate amount of the grants to be made pursuant to 
 sections 403, 406, 407, 408, 410, 416, and 428 for the 
 major disaster in order to provide technical and 
 financial assistance under this section and such set 
 aside shall be deemed to be related to activities 
 carried out pursuant to major disasters under this Act.
 (2) Estimated aggregate amount.--Not later than 180 
 days after each major disaster declaration pursuant to 
 this Act, the estimated aggregate amount of grants for 
 purposes of paragraph (1) shall be determined by the 
 President and such estimated amount need not be 
 reduced, increased, or changed due to variations in 
 estimates.
 (3) No reduction in amounts.--The amount set aside 
 pursuant to paragraph (1) shall not reduce the amounts 
 otherwise made available for sections 403, 404, 406, 
 407, 408, 410, 416, and 428 under this Act.
 (j) Multihazard Advisory Maps.--
 (1) Definition of multihazard advisory map.--In this 
 subsection, the term ``multihazard advisory map'' means 
 a map on which hazard data concerning each type of 
 natural disaster is identified simultaneously for the 
 purpose of showing areas of hazard overlap.
 (2) Development of maps.--In consultation with 
 States, local governments, and appropriate Federal 
 agencies, the President shall develop multihazard 
 advisory maps for areas, in not fewer than five States, 
 that are subject to commonly recurring natural hazards 
 (including flooding, hurricanes and severe winds, and 
 seismic events).
 (3) Use of technology.--In developing multihazard 
 advisory maps under this subsection, the President 
 shall use, to the maximum extent practicable, the most 
 cost-effective and efficient technology available.
 (4) Use of maps.--
 (A) Advisory nature.--The multihazard 
 advisory maps shall be considered to be 
 advisory and shall not require the development 
 of any new policy by, or impose any new policy 
 on, any government or private entity.
 (B) Availability of maps.--The multihazard 
 advisory maps shall be made available to the 
 appropriate State and local governments for the 
 purposes of--
 (i) informing the general public 
 about the risks of natural hazards in 
 the areas described in paragraph (2);
 (ii) supporting the activities 
 described in subsection (e); and
 (iii) other public uses.
 (k) Report on Federal and State Administration.--Not later 
than 18 months after the date of the enactment of this section, 
the President, in consultation with State and local 
governments, shall submit to Congress a report evaluating 
efforts to implement this section and recommending a process 
for transferring greater authority and responsibility for 
administering the assistance program established under this 
section to capable States.
 (l) Prohibition on Earmarks.--
 (1) Definition.--In this subsection, the term 
 ``congressionally directed spending'' means a statutory 
 provision or report language included primarily at the 
 request of a Senator or a Member, Delegate or Resident 
 Commissioner of the House of Representatives providing, 
 authorizing, or recommending a specific amount of 
 discretionary budget authority, credit authority, or 
 other spending authority for a contract, loan, loan 
 guarantee, grant, loan authority, or other expenditure 
 with or to an entity, or targeted to a specific State, 
 locality, or Congressional district, other than through 
 a statutory or administrative formula-driven or 
 competitive award process.
 (2) Prohibition.--None of the funds appropriated or 
 otherwise made available to carry out this section may 
 be used for congressionally directed spending.
 (3) Certification to congress.--The Administrator of 
 the Federal Emergency Management Agency shall submit to 
 Congress a certification regarding whether all 
 financial assistance under this section was awarded in 
 accordance with this section.
 (m) Latest Published Editions.--For purposes of subsections 
(e)(1)(B)(iv) and (g)(10), the term ``latest published 
editions'' means, with respect to relevant consensus-based 
codes, specifications, and standards, the 2 most recently 
published editions.

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SEC. 205. GRANTS TO ENTITIES FOR ESTABLISHMENT OF HAZARD MITIGATION 
 REVOLVING LOAN FUNDS.

 (a) General Authority.--
 (1) In general.--The Administrator may enter into 
 agreements with eligible entities to make 
 capitalization grants to such entities for the 
 establishment of hazard mitigation revolving loan funds 
 (referred to in this section as ``entity loan funds'') 
 for providing funding assistance to local governments 
 to carry out eligible projects under this section to 
 reduce disaster risks for homeowners, businesses, 
 nonprofit organizations, and communities in order to 
 decrease--
 (A) the loss of life and property;
 (B) the cost of insurance; and
 (C) Federal disaster payments.
 (2) Agreements.--Any agreement entered into under 
 this section shall require the participating entity 
 to--
 (A) comply with the requirements of this 
 section; and
 (B) use accounting, audit, and fiscal 
 procedures conforming to generally accepted 
 accounting standards.
 (b) Application.--
 (1) In general.--To be eligible to receive a 
 capitalization grant under this section, an eligible 
 entity shall submit to the Administrator an application 
 that includes the following:
 (A) Project proposals comprised of local 
 government hazard mitigation projects, on the 
 condition that the entity provides public 
 notice not less than 6 weeks prior to the 
 submission of an application.
 (B) An assessment of recurring major disaster 
 vulnerabilities impacting the entity that 
 demonstrates a risk to life and property.
 (C) A description of how the hazard 
 mitigation plan of the entity has or has not 
 taken the vulnerabilities described in 
 subparagraph (B) into account.
 (D) A description about how the projects 
 described in subparagraph (A) could conform 
 with the hazard mitigation plan of the entity 
 and of the unit of local government.
 (E) A proposal of the systematic and regional 
 approach to achieve resilience in a vulnerable 
 area, including impacts to river basins, river 
 corridors, watersheds, estuaries, bays, coastal 
 regions, micro-basins, micro-watersheds, 
 ecosystems, and areas at risk of earthquakes, 
 tsunamis, droughts, severe storms, and 
 wildfires, including the wildland-urban 
 interface.
 (2) Technical assistance.--The Administrator shall 
 provide technical assistance to eligible entities for 
 applications under this section.
 (c) Entity Loan Fund.--
 (1) Establishment of fund.--An entity that receives a 
 capitalization grant under this section shall establish 
 an entity loan fund that complies with the requirements 
 of this subsection.
 (2) Fund management.--Except as provided in paragraph 
 (3), entity loan funds shall--
 (A) be administered by the agency responsible 
 for emergency management; and
 (B) include only--
 (i) funds provided by a 
 capitalization grant under this 
 section;
 (ii) repayments of loans under this 
 section to the entity loan fund; and
 (iii) interest earned on amounts in 
 the entity loan fund.
 (3) Administration.--A participating entity may 
 combine the financial administration of the entity loan 
 fund of such entity with the financial administration 
 of any other revolving fund established by such entity 
 if the Administrator determines that--
 (A) the capitalization grant, entity share, 
 repayments of loans, and interest earned on 
 amounts in the entity loan fund are accounted 
 for separately from other amounts in the 
 revolving fund; and
 (B) the authority to establish assistance 
 priorities and carry out oversight activities 
 remains in the control of the entity agency 
 responsible for emergency management.
 (4) Entity share of funds.--
 (A) In general.--On or before the date on 
 which a participating entity receives a 
 capitalization grant under this section, the 
 entity shall deposit into the entity loan fund 
 of such entity, an amount equal to not less 
 than 10 percent of the amount of the 
 capitalization grant.
 (B) Reduced grant.--If, with respect to a 
 capitalization grant under this section, a 
 participating entity deposits in the entity 
 loan fund of the entity an amount that is less 
 than 10 percent of the total amount of the 
 capitalization grant that the participating 
 entity would otherwise receive, the 
 Administrator shall reduce the amount of the 
 capitalization grant received by the entity to 
 the amount that is 10 times the amount so 
 deposited.
 (d) Apportionment.--
 (1) In general.--Except as otherwise provided by this 
 subsection, the Administrator shall apportion funds 
 made available to carry out this section to entities 
 that have entered into an agreement under subsection 
 (a)(2) in amounts as determined by the Administrator.
 (2) Reservation of funds.--The Administrator shall 
 reserve not more than 2.5 percent of the amount made 
 available to carry out this section for the Federal 
 Emergency Management Agency for--
 (A) administrative costs incurred in carrying 
 out this section; and
 (B) providing technical assistance to 
 participating entities under subsection (b)(2).
 (3) Priority.--In the apportionment of capitalization 
 grants under this subsection, the Administrator shall 
 give priority to entity applications under subsection 
 (b) that--
 (A) propose projects increasing resilience 
 and reducing risk of harm to natural and built 
 infrastructure;
 (B) involve a partnership between two or more 
 eligible entities to carry out a project or 
 similar projects;
 (C) take into account regional impacts of 
 hazards on river basins, river corridors, 
 micro-watersheds, macro-watersheds, estuaries, 
 lakes, bays, and coastal regions and areas at 
 risk of earthquakes, tsunamis, droughts, severe 
 storms, and wildfires, including the wildland-
 urban interface; or
 (D) propose projects for the resilience of 
 major economic sectors or critical national 
 infrastructure, including ports, global 
 commodity supply chain assets (located within 
 an entity or within the jurisdiction of local 
 governments and Tribal governments), power and 
 water production and distribution centers, and 
 bridges and waterways essential to interstate 
 commerce.
 (e) Environmental Review of Revolving Loan Fund Projects.--
The Administrator may delegate to a participating entity all of 
the responsibilities for environmental review, decision making, 
and action pursuant to the National Environmental Policy Act of 
1969 (42 U.S.C. 4321 et seq.), and other applicable Federal 
environmental laws including the Endangered Species Act of 1973 
(16 U.S.C. 1531 et seq.) and the National Historic Preservation 
Act of 1966 (54 U.S.C. 300101 et seq.) that would apply to the 
Administrator were the Administrator to undertake projects 
under this section as Federal projects so long as the 
participating entity carries out such responsibilities in the 
same manner and subject to the same requirements as if the 
Administrator carried out such responsibilities.
 (f) Use of Funds.--
 (1) Types of assistance.--Amounts deposited in an 
 entity loan fund, including loan repayments and 
 interest earned on such amounts, may be used--
 (A) to make loans, on the condition that--
 (i) such loans are made at an 
 interest rate of not more than 1 
 percent;
 (ii) annual principal and interest 
 payments will commence not later than 1 
 year after completion of any project 
 and all loans made under this 
 subparagraph will be fully amortized--
 (I) not later than 20 years 
 after the date on which the 
 project is completed; or
 (II) for projects in a low-
 income geographic area, not 
 later than 30 years after the 
 date on which the project is 
 completed and not longer than 
 the expected design life of the 
 project;
 (iii) the loan recipient of a loan 
 under this subparagraph establishes a 
 dedicated source of revenue for 
 repayment of the loan;
 (iv) the loan recipient of a loan 
 under this subparagraph has a hazard 
 mitigation plan that has been approved 
 by the Administrator; and
 (v) the entity loan fund will be 
 credited with all payments of principal 
 and interest on all loans made under 
 this subparagraph;
 (B) for mitigation efforts, in addition to 
 mitigation planning under section 322 not to 
 exceed 10 percent of the capitalization grants 
 made to the participating entity in a fiscal 
 year;
 (C) for the reasonable costs of administering 
 the fund and conducting activities under this 
 section, except that such amounts shall not 
 exceed $100,000 per year, 2 percent of the 
 capitalization grants made to the participating 
 entity in a fiscal year, or 1 percent of the 
 value of the entity loan fund, whichever amount 
 is greatest, plus the amount of any fees 
 collected by the entity for such purpose 
 regardless of the source; and
 (D) to earn interest on the entity loan fund.
 (2) Prohibition on determination that loan is a 
 duplication.--In carrying out this section, the 
 Administrator may not determine that a loan is a 
 duplication of assistance or programs under this Act.
 (3) Projects and activities eligible for 
 assistance.--Except as provided in this subsection, a 
 participating entity may use funds in the entity loan 
 fund to provide financial assistance for projects or 
 activities that mitigate the impacts of natural hazards 
 including--
 (A) drought and prolonged episodes of intense 
 heat;
 (B) severe storms, including hurricanes, 
 tornados, wind storms, cyclones, and severe 
 winter storms;
 (C) wildfires;
 (D) earthquakes;
 (E) flooding, including the construction, 
 repair, or replacement of a non-Federal levee 
 or other flood control structure, provided that 
 the Administrator, in consultation with the 
 Army Corps of Engineers (if appropriate), 
 requires an eligible entity to determine that 
 such levee or structure is designed, 
 constructed, and maintained in accordance with 
 sound engineering practices and standards 
 equivalent to the purpose for which such levee 
 or structure is intended;
 (F) shoreline erosion;
 (G) high water levels; and
 (H) storm surges.
 (4) Zoning and land use planning changes.--A 
 participating entity may use not more than 10 percent 
 of a capitalization grant under this section to enable 
 units of local government to implement zoning and land 
 use planning changes focused on--
 (A) the development and improvement of zoning 
 and land use codes that incentivize and 
 encourage low-impact development, resilient 
 wildland-urban interface land management and 
 development, natural infrastructure, green 
 stormwater management, conservation areas 
 adjacent to floodplains, implementation of 
 watershed or greenway master plans, and 
 reconnection of floodplains;
 (B) the study and creation of agricultural 
 risk compensation districts where there is a 
 desire to remove or set-back levees protecting 
 highly developed agricultural land to mitigate 
 for flooding, allowing agricultural producers 
 to receive compensation for assuming greater 
 flood risk that would alleviate flood exposure 
 to population centers and areas with critical 
 national infrastructure;
 (C) the study and creation of land use 
 incentives that reward developers for greater 
 reliance on low impact development stormwater 
 best management practices, exchange density 
 increases for increased open space and 
 improvement of neighborhood catch basins to 
 mitigate urban flooding, reward developers for 
 including and augmenting natural infrastructure 
 adjacent to and around building projects 
 without reliance on increased sprawl, and 
 reward developers for addressing wildfire 
 ignition; and
 (D) the study and creation of an erosion 
 response plan that accommodates river, lake, 
 forest, plains, and ocean shoreline retreating 
 or bluff stabilization due to increased 
 flooding and disaster impacts.
 [(5) Establishing and carrying out building code 
 enforcement.--A participating entity may use 
 capitalization grants under this section to enable 
 units of local government to establish and carry out 
 the latest published editions of relevant building 
 codes, specifications, and standards for the purpose of 
 protecting the health, safety, and general welfare of 
 the building's users against disasters and natural 
 hazards.]
 [(6)] (5) Administrative and technical costs.--For 
 each fiscal year, a participating entity may use the 
 amount described in paragraph (1)(C) to--
 (A) pay the reasonable costs of administering 
 the programs under this section, including the 
 cost of establishing an entity loan fund; and
 (B) provide technical assistance to 
 recipients of financial assistance from the 
 entity loan fund, on the condition that such 
 technical assistance does not exceed 5 percent 
 of the capitalization grant made to such 
 entity.
 [(7)] (6) Limitation for single projects.--A 
 participating entity may not provide an amount equal to 
 or more than $5,000,000 to a single hazard mitigation 
 project.
 [(8)] (7) Requirements.--For fiscal year 2022 and 
 each fiscal year thereafter, the requirements of 
 subchapter IV of chapter 31 of title 40, United States 
 Code, shall apply to the construction of projects 
 carried out in whole or in part with assistance made 
 available by an entity loan fund authorized by this 
 section.
 (g) Intended Use Plans.--
 (1) In general.--After providing for public comment 
 and review, and consultation with appropriate 
 government agencies of the State or Indian tribal 
 government, Federal agencies, and interest groups, each 
 participating entity shall annually prepare and submit 
 to the Administrator a plan identifying the intended 
 uses of the entity loan fund.
 (2) Contents of plan.--An entity intended use plan 
 prepared under paragraph (1) shall include--
 (A) the integration of entity planning 
 efforts, including entity hazard mitigation 
 plans and other programs and initiatives 
 relating to mitigation of major disasters 
 carried out by such entity;
 (B) an explanation of the mitigation and 
 resiliency benefits the entity intends to 
 achieve by--
 (i) reducing future damage and loss 
 associated with hazards;
 (ii) reducing the number of severe 
 repetitive loss structures and 
 repetitive loss structures in the 
 entity;
 (iii) decreasing the number of 
 insurance claims in the entity from 
 injuries resulting from major disasters 
 or other natural hazards; and
 (iv) increasing the rating under the 
 community rating system under section 
 1315(b) of the National Flood Insurance 
 Act of 1968 (42 U.S.C. 4022(b)) for 
 communities in the entity;
 (C) information on the availability of, and 
 application process for, financial assistance 
 from the entity loan fund of such entity;
 (D) the criteria and methods established for 
 the distribution of funds;
 (E) the amount of financial assistance that 
 the entity anticipates apportioning;
 (F) the expected terms of the assistance 
 provided from the entity loan fund; and
 (G) a description of the financial status of 
 the entity loan fund, including short-term and 
 long-term goals for the fund.
 (h) Audits, Reports, Publications, and Oversight.--
 (1) Biennial entity audit and report.--Beginning not 
 later than the last day of the second fiscal year after 
 the receipt of payments under this section, and 
 biennially thereafter, any participating entity shall--
 (A) conduct an audit of the entity loan fund 
 established under subsection (c); and
 (B) provide to the Administrator a report 
 including--
 (i) the result of any such audit; and
 (ii) a review of the effectiveness of 
 the entity loan fund of the entity with 
 respect to meeting the goals and 
 intended benefits described in the 
 intended use plan submitted by the 
 entity under subsection (g).
 (2) Publication.--A participating entity shall 
 publish and periodically update information about all 
 projects receiving funding from the entity loan fund of 
 such entity, including--
 (A) the location of the project;
 (B) the type and amount of assistance 
 provided from the entity loan fund;
 (C) the expected funding schedule; and
 (D) the anticipated date of completion of the 
 project.
 (3) Oversight.--
 (A) In general.--The Administrator shall, at 
 least every 4 years, conduct reviews and audits 
 as may be determined necessary or appropriate 
 by the Administrator to carry out the 
 objectives of this section and determine the 
 effectiveness of the fund in reducing natural 
 hazard risk.
 (B) GAO requirements.--A participating entity 
 shall conduct audits under paragraph (1) in 
 accordance with the auditing procedures of the 
 Government Accountability Office, including 
 generally accepted government auditing 
 standards.
 (C) Recommendations by administrator.--The 
 Administrator may at any time make 
 recommendations for or require specific changes 
 to an entity loan fund in order to improve the 
 effectiveness of the fund.
 (i) Regulations or Guidance.--The Administrator shall issue 
such regulations or guidance as are necessary to--
 (1) ensure that each participating entity uses funds 
 as efficiently as possible;
 (2) reduce waste, fraud, and abuse to the maximum 
 extent possible; and
 (3) require any party that receives funds directly or 
 indirectly under this section, including a 
 participating entity and a recipient of amounts from an 
 entity loan fund, to use procedures with respect to the 
 management of the funds that conform to generally 
 accepted accounting standards.
 (j) Waiver Authority.--Until such time as the Administrator 
issues final regulations to implement this section, the 
Administrator may--
 (1) waive notice and comment rulemaking, if the 
 Administrator determines the waiver is necessary to 
 expeditiously implement this section; and
 (2) provide capitalization grants under this section 
 as a pilot program.
 (k) Liability Protections.--The Agency shall not be liable 
for any claim based on the exercise or performance of, or the 
failure to exercise or perform, a discretionary function or 
duty by the Agency, or an employee of the Agency in carrying 
out this section.
 (l) GAO Report.--Not later than 1 year after the date on 
which the first entity loan fund is established under 
subsection (c), the Comptroller General of the United States 
shall submit to the Committee on Homeland Security and 
Governmental Affairs of the Senate and the Committee on 
Transportation and Infrastructure of the House of 
Representatives a report that examines--
 (1) the appropriateness of regulations and guidance 
 issued by the Administrator for the program, including 
 any oversight of the program;
 (2) a description of the number of the entity loan 
 funds established, the projects funded from such entity 
 loan funds, and the extent to which projects funded by 
 the loan funds adhere to any applicable hazard 
 mitigation plans;
 (3) the effectiveness of the entity loan funds to 
 lower disaster related costs; and
 (4) recommendations for improving the administration 
 of entity loan funds.
 (m) Definitions.--In this section, the following definitions 
apply:
 (1) Administrator.--The term ``Administrator'' means 
 the Administrator of the Federal Emergency Management 
 Agency.
 (2) Agency.--The term ``Agency'' means the Federal 
 Emergency Management Agency.
 (3) Eligible entity.--The term ``eligible entity'' 
 means a State or an Indian tribal government that has 
 received a major disaster declaration pursuant to 
 section 401.
 (4) Hazard mitigation plan.--The term ``hazard 
 mitigation plan'' means a mitigation plan submitted 
 under section 322.
 (5) Low-income geographic area.--The term ``low-
 income geographic area'' means an area described in 
 paragraph (1) or (2) of section 301(a) of the Public 
 Works and Economic Development Act of 1965 (42 U.S.C. 
 3161(a)).
 (6) Participating entity.--The term ``participating 
 entity'' means an eligible entity that has entered into 
 an agreement under this section.
 (7) Repetitive loss structure.--The term ``repetitive 
 loss structure'' has the meaning given the term in 
 section 1370 of the National Flood Insurance Act of 
 1968 (42 U.S.C. 4121).
 (8) Severe repetitive loss structure.--The term 
 ``severe repetitive loss structure'' has the meaning 
 given the term in section 1366(h) of the National Flood 
 Insurance Act of 1968 (42 U.S.C. 4104c(h)).
 (9) Wildland-urban interface.--The term ``wildland-
 urban interface'' has the meaning given the term in 
 section 101 of the Healthy Forests Restoration Act of 
 2003 (16 U.S.C. 6511).
 (n) Authorization of Appropriations.--There are authorized to 
be appropriated $100,000,000 for each of fiscal years 2022 
through 2023 to carry out this section.

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