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Property Mitigation Assistance Act of 2007

Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

Official summary

Version 00 · Introduced in Senate · Nov 8, 2007

Property Mitigation Assistance Act of 2007 - Amends the Robert T. Stafford Disaster Assistance and Emergency Relief Act to direct the Administrator of the Federal Emergency Management Agency (FEMA) to establish a grant program to provide assistance to states to promote pre-disaster property mitigation measures within their jurisdictions.

Requires a state, to be eligible for assistance, to have: (1) submitted a mitigation plan; (2) established a process for accepting and processing grant and loan applications from individual homeowners and business owners; (3) established a revolving loan fund to which any grant amounts received under this Act shall be deposited; and (4) submitted a detailed plan for how terms and conditions for authorized loans and grants will be set.

Directs the Administrator to allocate grant amounts to eligible states according to a formula based on specified factors, including the nature and extent of potential hazards to property in the state, the number of properties at risk in the event that a hazard or natural disaster should occur, the amount of prior property damage incurred by the state during any previous hazard or natural disaster, and any available data on the future risk of occurrence of any hazard or natural disaster in a state.

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Sets forth provisions regarding baseline amounts for eligible states and matching requirements.

Authorizes each state to make grants or loans to assist individual homeowners and businesses in undertaking pre-disaster property mitigation measures from a revolving loan fund established under this Act.

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Who introduced it

Sen. Dodd, Christopher J. [D-CT] · D–CT

Committees

  • Homeland Security and Governmental Affairs Committee
0 cosponsorship records, including any withdrawals

    Actions

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    1. Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

    2. Introduced in Senate

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