S. 3418: STORM Act
CBO Report Details
Legislation Details
116th Congress
A bill to amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to allow the Administrator of the Federal Emergency Management Agency to provide capitalization grants to States to establish revolving funds to provide hazard mitigation assistance to reduce risks from disasters and natural hazards, and other related environmental harm.
Sponsor: Sen. Gary Peters — D — MI
Authorizes the appropriation of $300 million for the Federal Emergency Management Agency to make grants to capitalize new revolving funds administered by states. State agencies would use those funds to make low-interest loans to local governments to finance projects designed to mitigate damage from future disasters.
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