,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #ceca  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,june #bg1 #bjai ,mr4 
,graves ( ,miss\ri introduc$ ! foll[+   
bill2 :i* 0 ref]r$ to ! ,committee on   
,transportation & ,infra/ructure  ,a    
,,bill  ,to am5d ! ,rob]t ,t4 ,/af=d    
,disa/] ,relief & ,em]g5cy ,assi/ance   
,act to all[ ! ,adm9i/rator ( ! ,f$]al  
,em]g5cy ,managem5t ,ag5cy to provide   
capitalization grants to ,/ates to      
e/abli% revolv+ funds to provide        
assi/ance to r$uce ! h>mful impacts to p
 & prop]ty f multiple haz>ds1 & = o!r   
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,resili5t ,communities ,act
 ( #bjai4  #b4 ,revolv+ loan funds to   
mitigate = multiple haz>ds ,title ,,ii (
 ! ,rob]t ,t4 ,/af=d ,disa/] ,relief &  
,em]g5cy ,assi/ance ,act 7#db ,u4,s4,c4 
#eaca et seq47 is am5d$ by add+ at ! end
 ! foll[+3  #bje4 ,revolv+ loan fund    
7a7 ,def9itions ,9 ?is section-- 7#a7 ! 
t]m eligible entity means a ,/ate or    
,indian ,tribal ,gov]nm5t z ^? t]ms are 

def9$ 9 section #ajb ( ?is ,act2  7#b7 !
 t]m p>ticipat+ entity means an eligible
 entity t-- 7,a7 has ent]$ into an      
agreem5t "u subsection 7b77#a72 &  7,b7 
agrees to comply ) ! requirem5ts ( ?is  
section2  7#c7 ! t]m mitigation loan    
fund means a multihaz>d mitigation      
assi/ance revolv+ loan fund e/abli%$ by 
an eligible entity "u ?is section2 &    
7#d7 ! t]m eligible recipi5t means a    
local gov]nm5tal entity1 a ,/ate ag5cy  
or subdivision !re(4  7b7 ,g5]al        
au?ority  7#a7 ,9 g5]al ,! ,adm9i/rator 
may ent] into an agreem5t ) an eligible 
entity to provide a capitalization grant
 = ! eligible entity to e/abli% a       
revolv+ loan fund t w provide fund+     
assi/ance to an eligible recipi5t to    
r$uce disa/] risks = home[n]s1          
bus9esses1 nonpr(it organizations1 &    
communities 9 ord] to decrease--  7,a7 !
 loss ( life & prop]ty2  7,b7 ! co/ (   
insurance2 &  7,c7 ,f$]al disa/]        
paym5ts4  7#b7 ,tim+ ( deposit &        
agreem5ts = di/ribution ( funds  7,a7 ,9

 g5]al ,n lat] ?an ! la/ day ( ! fiscal 
ye> foll[+ ! fiscal ye> 9 :i* a         
capitalization grant is made to a       
p>ticipat+ entity "u p>agraph 7#a71 !   
p>ticipat+ entity %all--  7i7 deposit ! 
grant 9 ! mitigation loan fund ( !      
eligible entity2 &  7ii7 ent] into #a or
 m agreem5ts to di/ribute ! grant funds 
= purposes au?oriz$ "u subsection 7d74  
7,b7 ,noncompliance ,except z provid$ 9 
subp>agraph 7,c71 if a p>ticipat+ entity
 does n comply ) subp>agraph 7,a7 )     
respect to a grant1 ! ,adm9i/rator %all 
reallocate ! grant 9 accordance )       
p>agraph 7#c74  7,c7 ,exception ,!      
,adm9i/rator may n reallocate any funds 
"u subp>agraph 7,b7 to a p>ticipat+     
entity t violat$ subp>agraph 7,a7 )     
respect to a grant made dur+ ! same     
fiscal ye> 9 :i* ! funds to be          
reallocat$ 7 orig9ally made available4  
7#c7 ,allocation  7,a7 ,9 g5]al ,!      
,adm9i/rator %all allocate am\nts made  
available to c>ry out ?is section to    
p>ticipat+ entities--  7i7 = !          

p>ticipat+ entities to deposit 9 !      
mitigation loan funds e/abli%$ by !     
p>ticipat+ entities2 &  7ii7 except z   
provid$ 9 p>agraph 7#e71 9 accordance ) 
! requirem5ts describ$ 9 subp>agraph    
7,b74  7,b7 ,requirem5ts ,! requirem5ts 
describ$ 9 ?is subp>agraph are z foll[s3
 7i7 ,eligible entities mu/ apply to !  
,adm9i/rator = an allocation ( f9ancial 
assi/ance to capitalize ! loans & commit
 to a #aj p]c5t mat* ( ! reque/$ funds4 
7ii7 ,sev5ty-five p]c5t ( ! project     
selection mu/ be compos$ ( local        
gov]nm5t haz>d mitigation projects &    
eligible entities mu/ give at lea/ #c   
weeks notice to _! local gov]nm5ts be=e 
requir+ all haz>d mitigation projects to
 be submitt$4  7iii7 ,eligible entities 
may n provide m ?an #e1jjj1jjj 9 loan   
funds t[>d ! completion ( any s+le haz>d
 mitigation project4  7iv7 ,a p>ticipat+
 entity mu/ agree to ! revolv+ loan     
repaym5t t]ms issu$ by ! ,adm9i/rator ^u
 be+ select$ to p>ticipate4  7v7 ,no m  
?an #aj p]c5t ( ! loan funds provid$ to 

a p>ticipat+ entity may be us$ = !      
purposes ( plann+4  7,c7 ,prioritization
 ,! ,adm9i/rator %all prioritize loan   
funds to p>ticipat+ entities ) int5d$   
use plans t include projects t--  7i7   
include ! re/oration & augm5tation (    
natural & built infra/ructure2  7ii7    
involve m ?an #a eligible entity or     
recipi5t p>tn]+ toge!r2  7iii7 take into
 acc\nt regional impacts ( haz>ds su*   
z-- 7,i7 riv] bas9s2  7,,ii7 riv]       
corridors2  7,,iii7 micro & macro       
wat]%$s2 &  7,,iv7 e/u>ies1 bays1 &     
coa/al regions2 &  7iv7 involve !       
resili5ce ( major economic sectors &    
critical national infra/ructure su* z   
ports1 p[] & wat] production &          
di/ribution c5t]s1 bridges1 & wat]ways  
ess5tial to int]/ate comm]ce4  7#d7     
,fur!r revolv+ fund requirem5ts ,a      
p>ticipat+ entity t ex]cises ! au?ority 
"u p>agraph 7#c77;,a7 9 a fiscal ye>    
%all provide mat*+ funds f non-,f$]al   
s\rces 9 an am\nt t is equal to #aj     
p]c5t ( ! am\nt t ! p>ticipat+ entity   

receives "u p>agraph 7#c77;,a7 9 t      
fiscal ye> = purposes describ$ 9 !      
respective int5d$ use plan4  7#e7       
,res]vation ( funds ,! ,adm9i/rator %all
 res]ve n m ?an #a4e p]c5t ( ! am\nt    
made available to c>ry out ?is section 9
 a fiscal ye>--  7,a7 = adm9i/rative    
co/s incurr$ by ,,fema 9 c>ry+ out ?is  
section2 &  7,b7 = ,,fema to provide    
te*nical assi/ance to recipi5ts ( loans 
"u ?is section4  7#f7 ,p>tn]%ips        
,eligible recipi5ts may p>tn] )         
nongov]nm5tal organizations to ensure   
projects r$uce disa/] risks = home[n]s1 
bus9esses1 nonpr(it organizations1 &    
communities4  7c7 ,environm5tal review (
 revolv+ loan fund projects ,not)/&+ any
 o!r ,f$]al law1 ,f$]al environm5tal    
review ( ! mitigation loan fund projects
 %all be delegat$ to ! p>ticipat+       
entities b only = ! purposes ( c>ry+ out
 ! mitigation revolv+ loan fund program 
z au?oriz$ "u ?is section4 ,su*         
p>ticipat+ entities %all e/abli% a      
,f$]al equival5cy environm5tal review   

involv+ consid]ation ( alt]natives1     
analysis ( pot5tial effects1 opportunity
 = public notice & comm5ts1 & compliance
 ) ,f$]al environm5tal laws & ,executive
 ord]s4  7d7 ,use ( funds  7#a7 ,9 g5]al
 ,am\nts deposit$ 9 a mitigation loan   
fund1 includ+ repaym5ts ( loans made f !
 fund & int]e/ e>n$ on ! am\nts 9 !     
fund1 %all be us$--  7,a7 consi/5t )    
p>agraphs 7#b7 & 7#c7 & subsection 7h71 
to provide f9ancial assi/ance = any     
eligible recipi5t2  7,b7 z a s\rce (    
rev5ue & security = lev]ag$ loans1 !    
proce$s ( :i* %all be deposit$ 9 !      
mitigation loan fund2 or  7,c7 = ! sale 
( bonds z security = paym5t ( ! pr9cipal
 & int]e/ on rev5ue or g5]al obligation 
bonds issu$ by ! p>ticipat+ entity to   
provide mat*+ funds "u subsection 7g71  
if ! proce$s f ! sale ( ! bonds are     
deposit$ 9 ! mitigation loan fund4  7#b7
 ,purposes ,an eligible recipi5t (      
f9ancial assi/ance provid$ ?r\gh am\nts 
f a mitigation loan fund-- 7,a7 %all use
 ! am\nts 9 a co/-effective mann] "u    

requirem5ts e/abli%$ by ! p>ticipat+    
entity1 :i* may require an applicant =  
f9ancial assi/ance to submit a          
co/-b5efit analysis be=e ! date on :i* !
 applicant receives ! assi/ance2  7,b7  
%all use ! am\nts = projects t are      
locat$ 9 communities t h develop$ a     
local haz>d mitigation plan t has be5   
approv$ by ! ,adm9i/rator2  7,c7 may use
 ! am\nts to-- 7i7 e/abli% & c>ry out   
en=cem5t activities & implem5t          
cons5sus-bas$ codes1 specifications1 &  
/&>ds2  7ii7 /udy special zon+ ov]lay   
di/ricts t bett] int]face wat]front     
developm5t ) natural assets ?r\gh ! use 
( buff] zones & %orel9e set-backs1      
protect fre%wat] res\rces = dr9k+ &     
manufactur+1 & flood prev5tion ?r\gh    
in/allation & re/oration ( natural      
infra/ructure su* z connect$ floodpla91 
wetl&s1 m>%es1 setback areas1 &         
riv]front p>ks2  7iii7 /udy agriculture 
risk comp5sation di/ricts :]e !re is a  
desire to remove or set-back levees     
protect+ highly develop$ agricultural l&

 to mitigate = flood+1 all[+            
agricultural produc]s to receive        
comp5sation = assum+ great] flood risk t
 w\ld alleviate flood exposure to       
population c5t]s & areas ) critical     
national infra/ructure2  7iv7 /udy l&   
use inc5tives t rew>d develop]s = great]
 reliance on ,,lid /ormwat] be/         
managem5t practices1 ex*ange d5sity     
increases = increas$ op5 space &        
improvem5t ( neighborhood cat* bas9s to 
mitigate urban flood+1 rew>d develop]s =
 includ+ & augm5t+ natural infra/ructure
 adjac5t to & ar\nd build+ projects )\t 
reliance on increas$ sprawl2  7v7 /udy  
an erosion response plan t accommodates 
riv]1 lake1 & ocean %orel9e retreat+ or 
bluff /abilization due to increas$      
flood+ & disa/] impacts4  7#c7 ,all[ance
 ,! ,adm9i/rator %all promulgate an     
all[ance )9 ?is section to all[         
p>ticipat+ entities to use revolv+ loan 
funds t[>d resili5ce to haz>ds4         
,p>ticipat+ entities may direct a       
portion ( revolv+ loan funds t[>d       

resili5ce activities t mitigate = !     
impacts ( ! foll[+3  7,a7 ,flood+ ,funds
 may be appli$ to-- 7i7 /ructural       
elevation2  7ii7 flood pro(+2  7iii7 !  
relocation or removal ( build+s2  7iv7  
environm5tal re/oration activities t    
directly r$uce flood risk2  7v7         
con/ruction1 repair or replacem5t (     
non-,f$]al levees2  7vi7 nonpr(its1     
bus9esses1 & o!r nongov]nm5tal entities 
= projects t w r$uce flood risk2 &      
7vii7 o!r activities det]m9$ appropriate
 by ! ,adm9i/rator4  7,b7 ,dr\ght &     
,prolong$ ,episodes ( ,int5se ,heat     
,funds may be appli$ to--  7i7 plann+ & 
protocols = heal?c>e facility response &
 plans t add heat-relat$ illness        
treatm5t capacities2  7ii7 plann+ &     
protocols = ! deploym5t ( cool+ c5t]s = 
vuln]able populations2  7iii7 heat isl& 
& heat s9k effect r$uction activities   
su* z--  7,i7 increas+ urban canopies2 &
  7,,ii7 replac+ natural assets m suit$ 
to dr\ght & w>m] climates2  7iv7 replac+
 infra/ructure vuln]able to ! rapid     

det]iorat+ effects ( int5se heat ) bett]
 alt]natives includ+ natural solutions2 
7v7 re/oration ( natural infra/ructure  
su* z =e/s to absorb heat effects2  7vi7
 re/oration & in/allm5t ( wetl&s & m>%es
 to reta9 moi/ure dur+ dr\ght & int5sely
 hot p]iods2  7vii7 increas$ urban gre5 
space t works to r$uce heat isl&        
effects2  7viii7 wat] cons]vation plans 
& protocols design$ = sev]e dr\ght2 &   
7ix7 small bus9ess assi/ance program    
assembly & plann+ = bus9esses likely to 
be mo/ impact$ by dr\ght4  7,c7 ,sev]e  
,/orms ,funds may be appli$ to          
mitigation & resili5ce = ! foll[+3 7i7  
,/raight-,l9e ,w9ds & ,tornadic         
,activity ,funds may be us$ =           
infra/ructure resili5ce activities t    
mitigate aga9/ significant w9d /orms    
especially :]e !re is high vuln]ability 
to utility sy/ems t may incur prolong$  
s]vice int]ruption due to canopy ov]gr[?
 & expos$ transmission l9ks1 includ+    
re/oration ( =e/s1 tree l9es1 & natural 
buff] zones design$ to *annel1 %ield1 & 

r$uce w9d damage to critical            
infra/ructure4  7ii7 ,tropical ,cyclones
 ,funds may be us$ = infra/ructure      
resili5ce activities t mitigate aga9/   
impacts associat$ ) tropical cyclones4  
7iii7 ,ice1 sn[1 extreme cold ,funds may
 be us$ = infra/ructure resili5ce       
activities t mitigate aga9/ impacts     
associat$ ) w9t] /orms1 includ+--  7,i7 
physical improvem5t & signage (         
evacuation r\tes2  7,,ii7 e/abli%m5t or 
improvem5t ( %elt]s or w>m+ c5t]s2 &    
7,,iii7 insulat+1 relocat+1 or r]\t+    
critical infra/ructure t mitigates =    
exposure ( utility & public             
transportation assets to sn[1 ice1 &    
extreme cold4  7,d7 ,wildfires ,funds   
may be appli$ to-- 7i7 plann+ &         
protocols t r$uce ! risk ( wildfires1   
improve evacuation r\tes1 & bett] in=m !
 public on prev5tion ( & response to    
wildfires2  7ii7 in/allation ( built &  
natural infra/ructure t r$uces ! risk ( 
wildfires1 includ+-- 7,i7 deploym5t (   
vegetation & ecosy/ems t reta9 moi/ure  

dur+ long hot p]iods native to ! region 
su* z m>%es & wetl&s1 if appropriate2   
7,,ii7 replacem5t ( vegetation native to
 ! region m suit$ to increas$ hot & dry 
p]iods2  7,,iii7 physical improvem5t &  
signage ( evacuation r\tes2  7,,iv7     
e/abli%m5t or improvem5t ( evacuation   
c5t]s2  7,v7 tra9+ ( fir/ respond]s &   
public safety p]sonnel on h[ to prev5t1 
mitigate1 & respond to wildfires2       
7,,vi7 acquisition ( equipm5t & supplies
 suit$ to mitigat+ & respond+ to        
wildfires1 includ+ acquisition (        
te*nology-bas$ solutions2  7,,vii7      
activities t increase ! capacity (      
heal?c>e facilities to treat            
wildfire-relat$ injuries2 &  7,,viii7   
activities t address wildfire prim>y    
impacts su* z f burn & second>y impacts 
to prop]ty & infra/ructure4  7,e7 ,o!r  
cata/rophic ev5ts  7i7 ,9 g5]al         
,eligible entities may apply revolv+    
loan funds t[>d resili5ce & mitigation  
aga9/ a cata/rophic ev5t ! ,adm9i/rator 
det]m9es is ei!r repetitive or is highly

 likely to occur & endang] lives &      
prop]ty unless ov]t action is tak54     
7ii7 ,cata/rophic ev5ts ,cata/rophic    
ev5ts include-- 7,i7 *emical spills into
 public wat] supply res]voirs su* z     
riv]s1 lakes1 or gr\ndwat] aquif]s :]e  
results c\ld be life-?reat5+2  7,,ii7   
l>ge-scale algae blooms 9 a public      
surface wat] supply res]voir su* z a    
riv] or lake2  7,,iii7 rupture ( a      
haz>d\s mat]ials pipel9e t transects    
above1 bel[1 or ?r\gh a public wat]     
supply res]voir su* z a riv]1 lake1 or  
gr\ndwat] aquif]s2 &  7,,iv7 significant
 contact betwe5 a l&-bas$ wa/e disposal 
site curr5tly h\s+ a haz>d\s mat]ial su*
 z coal a%1 m9+ mat]ial1 or manufactur+ 
slag t may make a wat] body toxic4      
7iii7 ,resili5ce activities ,resili5ce  
activities t are all[$ "u ?is section   
may include-- 7,i7 /r5g!n+ or realignm5t
 ( surface transportation infra/ructure1
 includ+ ports2  7,,ii7 in/allation (   
em]g5cy %ut-(f valves )9 haz>d\s mat]ial
 pipel9e sections trav]s+ ne> or ?r\gh  

public wat] supplies2  7,,iii7 removal  
or relocat+ ( l&-bas$ wa/e disposal     
sites curr5tly h\s+ a haz>d\s mat]ial z 
long z ! new site is n locat$ )9 a      
floodpla9 or 9 or ne> geologic haz>ds   
su* z e>?quake faults or areas prone to 
tsunami liquification or l&slides2 &    
7,,iv7 resili5ce to e>?quakes4  7#d7    
,sav+s ,none ( ! mitigation revolv+ loan
 funds may be us$ = ! b5efit ( projects1
 activities or to o!rwise mitigate risk 
on ,f$]al l& or prop]ty4  7e7 ,int5d$   
use plans  7#a7 ,9 g5]al ,aft] provid+ !
 opportunity = public review & comm5t1  
ea* p>ticipat+ entity %all annually     
prep>e a plan t id5tifies1 = ! ye>      
foll[+ ! date ( issuance ( ! int5d$ use 
plan1 ! int5d$ uses ( ! am\nts available
 9 ! mitigation loan fund ( ! p>ticipat+
 entity4  7#b7 ,consultation dur+       
prep>ation ,ea* p>ticipat+ entity1 9    
prep>+ an int5d$ use plan1 %all ensure t
 ! respective ag5cy ( ! p>ticipat+      
entity ) prim>y responsibility = em]g5cy
 managem5t--  7,a7 provides ov]sight )  

respect to ! prep>ation ( ! int5d$ use  
plan2 &  7,b7 consults ) any o!r        
appropriate ag5cy ( ! p>ticipat+ entity1
 includ+ ag5cies responsible = coa/al1  
environm5tal managem5t1 & economic      
developm5t4  7#c7 ,cont5ts ,a p>ticipat+
 entity %all1 9 ea* int5d$ use plan--   
7,a7 include--  7i7 an explanation ( !  
mitigation & resili5cy b5efits !        
p>ticipat+ entity int5ds to a*ieve1     
includ+ by--  7,i7 r$uc+ future damage &
 loss associat$ ) haz>ds includ$ 9      
subsection 7d77#c72  7,,ii7 r$uc+ !     
numb] ( sev]e repetitive loss prop]ties 
& repetitive loss /ructures 9 !         
p>ticipat+ entity's jurisdiction2       
7,,iii7 decreas+ ! numb] ( insurance    
claims2 &  7,,iv7 increas+ ! rat+ "u !  
,community ,rat+ ,sy/em = communities 9 
! geographical jurisdiction ( !         
p>ticipat+ entity2  7ii7 in=mation )    
respect to ! availability (1 & !        
application process = receiv+1 f9ancial 
assi/ance f ! mitigation loan fund2     
7iii7 ! crit]ia & me?ods e/abli%$ = !   

di/ribution ( am\nts f ! mitigation loan
 fund2  7iv7 ! am\nt ( f9ancial         
assi/ance t ! p>ticipat+ entity         
anticipates allocat+ to--  7,i7 local   
gov]nm5t projects2 &  7,,ii7 projects   
b5efitt+ home[n]s1 bus9ess1 or nonpr(it 
organizations2  7v7 ! expect$ t]ms ( !  
assi/ance provid$ "u clause 7iv72 &     
7vi7 a description ( ! f9ancial /atus ( 
! mitigation loan fund & ! %ort-t]m &   
long-t]m goals ( ! mitigation loan fund2
 &  7,b7 provide1 to ! maximum ext5t    
practicable1 t priority = ! use ( am\nts
 f ! mitigation loan fund %all be giv5  
to projects t--  7i7 address sev]e      
repetitive loss prop]ties & repetitive  
loss /ructures2  7ii7 assi/ l[-income   
home[n]s & l[-income geographic areas2 &
  7iii7 assi/ vuln]able populations     
includ+ resid5tial facilities ) assi/$  
liv+1 gr\p homes = ! eld]ly1 or         
emotional or physically disabl$4  7#d7  
,publication ,ea* p>ticipat+ entity %all
 publi% & p]iodically update a li/ ( all
 projects receiv+ fund+ f ! mitigation  

loan fund ( ! p>ticipat+ entity1 :i*    
%all include--  7,a7 ! location ( ea*   
project2  7,b7 ! type & am\nt (         
assi/ance provid$ = ea* project2 &  7,c7
 ! expect$ fund+ s*$ule & date (        
completion ( ea* project4  7f7 ,fund    
managem5t ,am\nts 9 a mitigation loan   
fund %all--  7#a7 rema9 available =     
provid+ f9ancial assi/ance "u ?is       
section until di/ribut$2  7#b7 if !     
am\nts are n requir$ = imm$iate         
di/ribution or exp5diture1 be inve/$ 9  
int]e/-be>+ obligations2 &  7#c7 except 
z provid$ 9 subsection 7i71 include     
only-- 7,a7 am\nts receiv$ f            
capitalization grants made "u ?is       
section2  7,b7 repaym5ts ( loans made f 
! fund2  7,c7 int]e/ e>n$ on am\nts 9 ! 
fund2 &  7,d7 ! mat*+ funds requir$ "u  
subsection 7g74  7g7 ,mat*+ funds ,on or
 be=e ! date on :i* a p>ticipat+ entity 
receives a capitalization grant1 !      
entity %all deposit into ! mitigation   
loan fund ( ! entity1 9 addition to !   
am\nt ( ! capitalization grant1 an am\nt

 f non-,f$]al s\rces t is n less ?an #aj
 p]c5t ( ! total am\nt ( !              
capitalization grant4  7h7 ,types (     
assi/ance ,unless o!rwise prohibit$ by  
law1 a p>ticipat+ entity may use !      
am\nts deposit$ into a mitigation loan  
fund "u ?is section only--  7#a7 to make
 a loan1 on ! condition t-- 7,a7 !      
int]e/ rate = ! loan is n m ?an #ej     
p]c5t ( ! m>ket int]e/ rate2  7,b7 !    
recipi5t ( ! loan w beg9 mak+ pr9cipal &
 int]e/ paym5ts on ! loan n lat] ?an #a 
ye> aft] ! date on :i* ! project = :i* !
 loan 0 made is complet$2  7,c7 ! loan w
 be fully amortiz$ n lat] ?an #bj ye>s  
aft] ! date on :i* ! project = :i* !    
loan 0 made is complet$1 except t1 9 !  
case ( a loan made = a project 9 a      
l[-income geographic area1 = a l[-income
 home[n] or to assi/ vuln]able          
populations includ+ resid5tial          
facilities ) assi/$ liv+1 gr\p homes = !
 eld]ly1 or emotionally or physically   
disabl$1 ! p>ticipat+ entity may provide
 a long] amortization p]iod = ! loan if 

t long] p]iod--  7i7 ends on a date t is
 n lat] ?an #cj ye>s aft] ! date on :i* 
! project is complet$2 &  7ii7 is n     
long] ?an ! expect$ design life ( !     
project2  7,d7 ! eligible recipi5t ( !  
loan demon/rates t !re is a d$icat$     
s\rce ( rev5ue or adequate income to    
repay ! loan2 &  7,e7 paym5ts ( pr9cipal
 & int]e/ ) respect to ! loan w be      
deposit$ into ! mitigation loan fund2   
7#b7 to buy or ref9ance ! debt          
obligation ( a local gov]nm5t at an     
int]e/ rate t is n m ?an ! m>ket int]e/ 
rate2  7#c7 to gu>antee1 or pur*ase     
insurance =1 a local obligation1 !      
proce$s ( :i* f9ance a project eligible 
= assi/ance "u ?is section1 if !        
gu>antee or pur*ase1 z applicable1      
w\ld--  7,a7 improve cr$it m>ket access2
 or  7,b7 r$uce ! int]e/ rate ) respect 
to ! obligation2  7#d7 z a s\rce (      
rev5ue or z security = ! paym5t (       
pr9cipal & int]e/ on rev5ue or g5]al    
obligation bonds issu$ by ! p>ticipat+  
entity if ! proce$s ( ! sale ( ! bonds w

 be deposit$ into ! mitigation loan     
fund2 or  7#e7 to e>n int]e/ on ^?      
am\nts4  7i7 ,adm9i/ration ( fund  7#a7 
,9 g5]al ,a p>ticipat+ entity may comb9e
 ! f9ancial adm9i/ration ( a mitigation 
loan fund ) ! f9ancial adm9i/ration (   
any o!r revolv+ fund e/abli%$ by !      
entity if--  7,a7 comb9+ ! adm9i/ration 
( ! funds w\ld-- 7i7 be conv5i5t & avoid
 adm9i/rative co/s2 &  7ii7 n violate ! 
law ( ! p>ticipat+ entity2 &  7,b7 !    
,adm9i/rator det]m9es t--  7i7 am\nts   
obta9$ f a grant made "u ?is section1   
am\nts obta9$ f ! repaym5t ( a loan made
 f a mitigation loan fund1 & int]e/ e>n$
 on am\nts 9 a mitigation loan fund w   
be--  7,i7 acc\nt$ = sep>ately f am\nts 
f o!r revolv+ funds2 &  7,,ii7 us$ only 
= purposes au?oriz$ "u ?is section2 &   
7ii7 aft] consult+ ) ! appropriate      
ag5cies ( ! p>ticipat+ entity1 !        
au?ority to e/abli% assi/ance priorities
 & c>ry out ov]sight & relat$           
activities1 o!r ?an f9ancial            
adm9i/ration1 ) respect to mitigation   

assi/ance rema9s ) ! ag5cy ( !          
p>ticipat+ entity ) prim>y              
responsibility = em]g5cy managem5t4     
7#b7 ,adm9i/rative & te*nical co/s  7,a7
 ,9 g5]al ,= ea* fiscal ye>1 a          
p>ticipat+ entity may use ! am\nt       
describ$ 9 subp>agraph 7,b7 to-- 7i7 pay
 ! reasonable co/s ( adm9i/ration ( !   
programs "u ?is section1 includ+ !      
recov]y ( reasonable co/s incurr$ 9     
e/abli%+ a mitigation loan fund2  7ii7  
provide appropriate ov]sight ( projects 
au?oriz$ "u ?is section2 &  7iii7       
provide te*nical assi/ance tra9+ &      
outrea* to recipi5ts 9 ! geographical   
jurisdiction ( ! p>ticipat+ entity (    
am\nts "u ?is section1 includ+ ) respect
 to updat+ haz>d mitigation plans &     
p>ticipat+ 9 ! ,community ,rat+ ,sy/em1 
9 an am\nt t is n m ?an #e p]c5t ( !    
funds made available to ! entity "u ?is 
section4  7,b7 ,description ,! am\nt    
describ$ 9 ?is subp>agraph is an am\nt  
equal to ! sum (-- 7i7 any fees collect$
 by a p>ticipat+ entity to recov] ! co/s

 describ$ 9 subp>agraph 7,a77i71        
reg>dless ( ! s\rce2 &  7ii7 ! greate/  
(-- 7,i7 #ajj1jjj2  7,,ii7 #a4j p]c5t ( 
! value ( ! mitigation loan fund1 z ( ! 
date on :i* ! valuation is made2 &      
7,,iii7 an am\nt equal to #b4j p]c5t (  
all grant aw>ds made to a p>ticipat+    
entity = ! mitigation loan fund "u ?is  
section = ! fiscal ye>4  7#c7 ,audit &  
report  7,a7 ,audit requirem5t ,n less  
frequ5tly ?an e #b ye>s1 ea* p>ticipat+ 
entity %all conduct an audit ( !        
mitigation loan fund ( ! entity4  7,b7  
,report ,ea* p>ticipat+ entity %all     
submit to ! ,adm9i/rator a bi5nial      
report reg>d+ ! activities ( !          
p>ticipat+ entity "u ?is section dur+ ! 
p]iod cov]$ by ! report1 includ+--  7i7 
! result ( any audit conduct$ by !      
p>ticipat+ entity "u subp>agraph 7,a72 &
  7ii7 a review ( ! effectiv5ess ( !    
mitigation loan fund ( ! entity )       
respect to--  7,i7 ! int5d$ use plans ( 
! entity2 &  7,,ii7 meet+ ! objectives  
describ$ 9 subsection 7b77#a74  7#d7    

,ov]sight ,9 conduct+ ov]sight ) respect
 to mitigation loan funds e/abli%$ "u   
?is section1 ! ,adm9i/rator--  7,a7     
%all-- 7i7 p]iodically audit ! funds 9  
accordance ) proc$ures e/abli%$ by !    
,comptroll] ,g5]al ( ! ,unit$ ,/ates2 & 
7ii7 n less frequ5tly ?an once e #d     
ye>s1 review ea* mitigation loan fund to
 det]m9e ! effectiv5ess ( ! fund 9 r$uc+
 haz>d risk2 &  7,b7 may1 at any "t--   
7i7 make recomm5dations to a p>ticipat+ 
entity ) respect to ! adm9i/ration ( !  
mitigation loan fund ( ! entity2 or     
7ii7 require specific *anges ) respect  
to a mitigation loan fund 9 ord] to     
improve ! effectiv5ess ( ! fund4  7j7   
,regulations ,! ,adm9i/rator %all issue 
guidance or regulations z may be        
necess>y to c>ry out ?is section1       
includ+ guidance or regulations t--     
7#a7 ensure t ea* p>ticipat+ entity to  
:i* funds are allocat$ "u ?is section   
uses ! funds z effici5tly z possible2   
7#b7 r$uce1 to ! maximum ext5t          
practicable1 wa/e1 fraud1 & abuse )     

respect to ! implem5tation ( ?is        
section2  7#c7 ensure compliance ) !    
requirem5ts ( ?is section2 &  7#d7      
require any p>ty t receives funds       
directly or indirectly "u ?is section1  
includ+ a p>ticipat+ entity & an        
eligible recipi5t ( am\nts f a          
mitigation loan fund1 to use proc$ures )
 respect to ! managem5t ( ! funds t     
con=m to g5]ally accept$ acc\nt+ /&>ds4 
7k7 ,fund+ ,! ,presid5t may make        
contributions f ! ,disa/] ,relief ,fund 
9 ord] to provide f9ancial assi/ance "u 
?is section4 ,su* contribution %all be  
deem$ to be relat$ to activities c>ri$  
out pursuant to a major disa/] "u ?is   
,act4  7l7 ,duplication ( b5efits ,!    
f9ancial assi/ance provid$ pursuant to  
?is section to p>ticipat+ entities1 & ! 
loans made to eligible recipi5ts %all n 
be det]m9$ to be a duplication (        
assi/ance4  4