H.R.5846 - Promoting Flood Risk Mitigation Act115th Congress (2017-2018)
|Sponsor:||Rep. Blumenauer, Earl [D-OR-3] (Introduced 05/16/2018)|
|Committees:||House - Transportation and Infrastructure | Senate - Banking, Housing, and Urban Affairs|
|Committee Reports:||H. Rept. 115-820|
|Latest Action:||Senate - 07/17/2018 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.5846 — 115th Congress (2017-2018)All Information (Except Text)
Passed House amended (07/16/2018)
Promoting Flood Risk Mitigation Act
(Sec. 2) This bill directs the Government Accountability Office (GAO) to conduct a study to assess: (1) the efficacy of practices or programs under which the Federal Emergency Management Agency (FEMA) provides assistance to state and local governments to acquire flood-damaged properties committed to open space use in perpetuity (buyout practices), and (2) ways to streamline the buyout practices to provide more timely assistance.
The study must consider and analyze:
- current and future trends with respect to repetitive loss structures and severe repetitive loss structures that are insured under the National Flood Insurance Program;
- buyout practices, including the socioeconomic status of recipients of buyouts under buyout programs and examples of successful buyout programs, including best practices employed;
- administrative, financial, or temporal constraints that may impede the timely acquisition of properties under a buyout program;
- potential options, methods, and strategies to address such constraints;
- the ecological, financial, and flood risk reduction benefits that buyout practices provide;
- an assessment of how FEMA may use buyout programs to reduce future flood disaster recovery costs; and
- a cost-benefit analysis of mitigation and buy-out projects and programs.
The GAO shall submit to Congress and FEMA a report on the buyout practices study and the feasibility of FEMA establishing an alternative buyout program.