,,ib ,union ,calendar ,no4 #fcd #aaeth ,,congress #b;d ,session ,h4 ,r4 #ehdf ,report ,no4 #aae-hbj ,,in ,,the ,,house ,,of ,,representatives ,may #af1 #bjah ,mr4 ,blumenauer 7for himself1 ,mr4 ,sanford1 ,mr4 ,duffy1 and ,mr4 ,de,fazio7 introduced the following bill2 which was referred to the ,committee on ,transportation and ,infrastructure ,july #af1 #bjah ,reported with an amendment1 committed to the ,committee of the ,whole ,house on the ,state of the ,union1 and ordered to be printed ,strike out all after the enacting clause and insert the part printed in italic ,for text of introduced bill1 see copy of bill as introduced on ,may #af1 #bjah ,a ,,bill ,to require the ,comptroller ,general of the ,united ,states to conduct a study regarding the buyout practices of the ,federal ,emergency ,management ,agency1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,promoting ,flood ,risk ,mitigation ,act4 #b4 ,,gao study regarding buyout practices 7a7 ,definitions ,in this section-- 7#a7 the term ,administrator means the ,administrator of the ,federal ,emergency ,management ,agency2 7#b7 the term appropriate committees of ,congress means-- 7,a7 the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate2 7,b7 the ,committee on ,homeland ,security and ,governmental ,affairs of the ,senate2 7,c7 the ,committee on ,financial ,services of the ,house of ,representatives2 and 7,d7 the ,committee on ,transportation and ,infrastructure of the ,house of ,representatives2 7#c7 the terms buyout practice and buyout program mean a practice or program1 as applicable1 under which the ,administrator provides assistance to ,state and local governments so that those entities may acquire flood-damaged properties committed to open space use in perpetuity in accordance with section #djd7;b77#b7 of the ,robert ,t4 ,stafford ,disaster ,relief and ,emergency ,assistance ,act 7#db ,u4,s4,c4 #eagj;c7b77#b772 7#d7 the term eligible property owner means a policyholder under the ,national ,flood ,insurance ,program with a household income that is not more than #abj percent of the mean household income for the community in which the primary residence of the policyholder is located2 7#e7 the term ,national ,flood ,insurance ,program means the program established under the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #djja et seq472 7#f7 the term repetitive loss structure has the meaning given the term in section #acgj7;a7 of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #daba7;a772 and 7#g7 the term severe repetitive loss structure has the meaning given the term in section #acff7;h7 of the ,national ,flood ,insurance ,act of #aifh 7#db ,u4,s4,c4 #dajd;c7h774 7b7 ,study required ,the ,comptroller ,general of the ,united ,states shall conduct a study to assess-- 7#a7 the efficacy of buyout practices1 as in effect on the date on which the study is conducted2 and 7#b7 ways to streamline the buyout practices described in paragraph 7#a7 in order to provide more timely assistance to a larger number of ,state and local governments4 7c7 ,considerations and analysis ,the study conducted under subsection 7b7 shall consider and analyze the following3 7#a7 ,to the extent possible1 current 7as of the date on which the study is conducted7 and future trends with respect to repetitive loss structures and severe repetitive loss structures that are insured under the ,national ,flood ,insurance ,program1 including1 with respect to both inland and coastal areas-- 7,a7 changes in flood risk1 flood frequency1 and flood magnitude since the inception of the ,national ,flood ,insurance ,program2 and 7,b7 projections for changes in flood risk1 flood frequency1 and flood magnitude by #bjbe1 #bjej1 and #bjge4 7#b7 ,to the extent possible1 buyout practices 7as of the date on which the study is conducted71 including-- 7,a7 the availability of funding sources for buyout programs through various grant programs2 7,b7 the total number of properties acquired though buyout programs2 7,c7 the average length of time for a ,state or local government to acquire a flood-damaged property under a buyout program1 with that period beginning on the date on which the ,state or local government1 as applicable1 begins participating in the buyout program2 7,d7 an estimate of the number of flood-damaged properties that could be acquired from willing property owners under buyout programs with the full cooperation of ,state and local governments2 7,e7 the socioeconomic status of recipients of buyouts under buyout programs2 and 7,f7 examples of successful buyout programs1 including best practices employed4 7#c7 ,administrative1 financial1 or temporal constraints that may impede the timely acquisition of properties under a buyout program1 including-- 7,a7 a lack of communication or cooperation between the ,administrator and the ,state and local governments that purchase properties under a buyout program2 7,b7 pressures to redevelop a property after acquiring a property through a buyout program2 and 7,c7 a lack of adequate funding4 7#d7 ,potential options1 methods1 and strategies to address the constraints identified under paragraph 7#c71 including evaluating the feasibility of-- 7,a7 a pilot program under which-- 7i7 an eligible property owner may agree1 before a flood event occurs1 to have the primary single-family residence of the eligible property owner purchased after the residence has been substantially damaged by a flood2 7ii7 the ,administrator may provide-- 7,i7 financial assistance to ,state and local governments that are willing to participate in the program to purchase and acquire the properties of owners that have incurred substantial damage from a flood event2 and 7,,ii7 a premium credit as an incentive to eligible property owners to agree to participate in the program2 7iii7 properties that are acquired-- 7,i7 shall be maintained as open space in accordance with section #djd7;b77#b7 of the ,robert ,t4 ,stafford ,disaster ,relief and ,emergency ,assistance ,act 7#db ,u4,s4,c4 #eagj;c7b77#b772 and 7,,ii7 may be used for non-structural mitigation1 conservation1 and recreational purposes2 and 7iv7 not fewer than #e and not more than #aj ,state and local governments shall participate2 and 7,b7 the role that nonprofit organizations could play in making buyouts more readily available or more efficient1 similar to the role that those organizations play in the acquisition of properties for conservation purposes4 7#e7 ,the ecological1 financial1 and flood risk reduction benefits that buyout practices1 as in effect on the date on which the study is conducted1 provide1 which shall-- 7,a7 take into account the differences between inland and coastal areas2 and 7,b7 include-- 7i7 examples in which ecosystem restoration and other nature-based approaches have enhanced the reduction of flood risk2 and 7ii7 recommendations for best practices4 7#f7 ,to the extent possible1 an assessment of how the ,administrator may use buyout programs to reduce future flood disaster recovery costs that are attributable to future projections of flood risk as a result of sea level rise1 population changes1 subsidence1 and other factors4 7#g7 ,a cost-benefit analysis of mitigation and buy-out projects and programs1 including an assessment of opportunities and challenges for leveraging different ,federal resources and funding to maximize the value of ,federal investment in disaster mitigation4 7d7 ,report 7#a7 ,in general ,not later than #a year after the date of enactment of this ,act1 the ,comptroller ,general of the ,united ,states shall submit to the appropriate committees of ,congress and the ,administrator a report that sets forth the analysis1 conclusions1 and recommendations resulting from the study conducted under subsection 7b74 7#b7 ,contents ,the report submitted under paragraph 7#a7 shall detail the feasibility of the ,administrator establishing1 and the processes required for the ,administrator to establish1 an alternative buyout program1 such as the pilot program described in subsection 7c77#d77;,a74 ,july #af1 #bjah ,reported with an amendment1 committed to the ,committee of the ,whole ,house on the ,state of the ,union1 and ordered to be printed