Flood Risk Mitigation: Expedited Buyouts and Community Support
This act aims to expand opportunities for families in high flood risk areas to access federal assistance for voluntary relocation. It introduces expedited property buyouts instead of claims payments and supports communities in planning and implementing flood risk reduction measures, especially for frequently flooded areas and underserved communities.
Key points
Expedited Property Buyouts: Allows for quick government purchase of properties instead of flood damage claims, offering a permanent solution for repeatedly flooded homes.
Community Support: Communities with frequently flooded areas will receive assistance in developing flood risk reduction plans and access to additional funding.
Relief for Vulnerable Populations: In certain cases, especially for low-income communities or those with high social vulnerability, the government may cover up to 100% of mitigation costs, such as elevating homes.
Assistance for Displaced Persons: Individuals who opt for property buyouts will be treated as displaced persons, potentially providing them with additional support.
Status:
Expired
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