United States 116th Congress Status: In Committee Bipartisan · 2 D · 1 R cosponsors

S 2192 — State Flood Mitigation Revolving Fund Act of 2019

Last action — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4953-4954)

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

State Flood Mitigation Revolving Fund Act of 2019 This bill permits the Federal Emergency Management Agency (FEMA) to provide capitalization grants to states. These grants must 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.

Bill Text

How this bill changes current law

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Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill amends the National Flood Insurance Act to create a framework for capitalization grants to states for establishing revolving funds aimed at reducing flood risks.

  • 42 U.S.C. 4011

    SEC. 1326. STATE REVOLVING LOAN FUNDS FOR FLOOD MITIGATION.

    This section establishes a new mechanism for states to create revolving funds for flood mitigation efforts.

  • 42 U.S.C. 4011

    The Administrator may enter into an agreement with an eligible State to provide a capitalization grant for the eligible State to establish a revolving fund that will provide funding assistance to help homeowners, businesses, nonprofit organizations, and communities reduce flood risk.

    This allows the FEMA Administrator to provide grants to states for establishing funds to assist various entities in reducing flood risks.

  • 42 U.S.C. 4011

    The term 'State loan fund' means a flood mitigation assistance revolving loan fund established by an eligible State under this section.

    Defines 'State loan fund' within the context of the new section detailing state revolving funds for flood mitigation.

  • 42 U.S.C. 4011

    Not later than the last day of the fiscal year following the fiscal year in which a capitalization grant is made to a participating State... the participating State shall deposit the grant in the State loan fund of the State.

    Specifies the timeline for states to utilize funds from the capitalization grants provided by the FEMA.

  • 42 U.S.C. 4011

    Fifty percent of the total amount made available... shall be allocated so that each participating State receives the percentage amount that is obtained by dividing the number of properties that were insured...

    Establishes a method for distributing the funds allocated to states based on the number of insured properties.

  • 42 U.S.C. 4011

    A participating State that receives less than $4,000,000... may distribute the funds directly in the form of grants or technical assistance...

    Allows smaller states to bypass the requirement of establishing a formal loan fund and use grant distributions instead.

  • 42 U.S.C. 4011

    The Administrator shall reserve not more than 1.5 percent of the amount made available to carry out this section in a fiscal year... for administrative costs...

    Allocates a portion of the funds for administrative expenses associated with implementing the new state revolving fund program.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4953-4954)

Sponsors

Sponsorship breakdown

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1 sponsors · 2 co-sponsors · 544 not signed on

Sponsors (1)

Co-sponsors (2)

Not signed on (544)

544 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance environment
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Frequently asked questions

What does S 2192 do?
State Flood Mitigation Revolving Fund Act of 2019 This bill permits the Federal Emergency Management Agency (FEMA) to provide capitalization grants to states. These grants must 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.
Who sponsors S 2192?
S 2192 is sponsored by Reed, Jack (Democratic), Kennedy, John (Republican), and Menendez, Robert (Democratic).
What is the current status of S 2192?
This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 2192?
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