§4104d — Title 42 The Public Health and Welfare | U.S. Code

Summary

Creates a National Flood Mitigation Fund in the U.S. Treasury to pay for flood-mitigation help under section 4104c. Each fiscal year the Fund can receive up to $90,000,000 from the National Flood Insurance Fund, plus any penalties under section 4012a(f) and any amounts recovered under section 4104c(e). Of the $90,000,000 limit, up to $40,000,000 is for 4104c(a)(1) work, up to $40,000,000 is for 4104c(a)(2) work, and up to $10,000,000 is for 4104c(a)(3) work. The Administrator may use up to 5% of the Fund for salaries and admin costs. Unused money for the three categories stays available for those purposes unless the Administrator moves it to other mitigation needs under 4104c in the best interest of the National Flood Insurance Fund. Excess funds may be invested in U.S. government interest-bearing obligations. The Fund cannot be paid for by raising flood insurance premiums. The Administrator must report to Congress by the end of the one-year period that began on September 23, 1994, and at least every two years after that, describing the Fund’s status and activities.

Title 42, §4104d

The Public Health and Welfare — Source: USLM XML via OLRC

(a)The Administrator shall establish in the Treasury of the United States a fund to be known as the National Flood Mitigation Fund, which shall be credited with amounts described in subsection (b) and shall be available, to the extent provided in appropriation Acts, for providing assistance under section 4104c of this title.

(b)The National Flood Mitigation Fund shall be credited with—

(1)in each fiscal year, amounts from the National Flood Insurance Fund not to exceed $90,000,000 and to remain available until expended, of which—

(A)not more than $40,000,000 shall be available pursuant to subsection (a) of this section for assistance described in section 4104c(a)(1) of this title;

(B)not more than $40,000,000 shall be available pursuant to subsection (a) of this section for assistance described in section 4104c(a)(2) of this title; and

(C)not more than $10,000,000 shall be available pursuant to subsection (a) of this section for assistance described in section 4104c(a)(3) of this title;

(2)any penalties collected under section 4012a(f) of this title; and

(3)any amounts recaptured under section 4104c(e) of this title.

(c)The Administrator may use not more than 5 percent of amounts made available under subsection (b) to cover salaries, expenses, and other administrative costs incurred by the Administrator to make grants and provide assistance under section 4104c of this title.

(d)Notwithstanding any other provision of this chapter, amounts made available pursuant to this section shall not be subject to offsetting collections through premium rates for flood insurance coverage under this chapter.

(e)Any amounts made available pursuant to subparagraph (A), (B), or (C) of subsection (b)(1) that are not used in any fiscal year shall continue to be available for the purposes specified in the subparagraph of subsection (b)(1) pursuant to which such amounts were made available, unless the Administrator determines that reallocation of such unused amounts to meet demonstrated need for other mitigation activities under section 4104c of this title is in the best interest of the National Flood Insurance Fund.

(f)If the Administrator determines that the amounts in the National Flood Mitigation Fund are in excess of amounts needed under subsection (a), the Administrator may invest any excess amounts the Administrator determines advisable in interest-bearing obligations issued or guaranteed by the United States.

(g)The Administrator shall submit a report to the Congress not later than the expiration of the 1-year period beginning on September 23, 1994, and not less than once during each successive 2-year period thereafter. The report shall describe the status of the Fund and any activities carried out with amounts from the Fund.

Notes & Related Subsidiaries

Editorial Notes

References in Text

This chapter, referred to in subsec. (d), was in the original a reference to “this title” meaning title XIII of Pub. L. 90–448, Aug. 1, 1968, 82 Stat. 572, known as the National Flood Insurance Act of 1968, which is classified principally to this chapter. For complete classification of this Act to the Code, see

Short Title

note set out under section 4001 of this title and Tables. Codification September 23, 1994, referred to in subsec. (g), was in the original “the date of enactment of this Act”, which was translated as meaning the date of enactment of Pub. L. 103–325, which enacted this section, to reflect the probable intent of Congress.

Amendments

2012—Subsec. (a). Pub. L. 112–141, § 100238(b)(1), substituted “Administrator” for “Director”. Subsec. (b)(1). Pub. L. 112–141, § 100225(e)(1)(A), added par. (1) and struck out former par. (1) which read as follows: “in each fiscal year, amounts from the National Flood Insurance Fund not exceeding $40,000,000, to remain available until expended;”. Subsec. (b)(3). Pub. L. 112–141, § 100225(e)(1)(B), substituted “section 4104c(e)” for “section 4104c(i)”. Subsec. (c). Pub. L. 112–141, § 100238(b)(1), substituted “Administrator” for “Director” in two places. Pub. L. 112–141, § 100225(e)(2), substituted “section 4104c” for “section 4104c and 4030”. Subsecs. (d), (e). Pub. L. 112–141, § 100225(e)(4), added subsecs. (d) and (e). Former subsecs. (d) and (e) redesignated (f) and (g), respectively. Subsecs. (f), (g). Pub. L. 112–141, § 100238(b)(1), substituted “Administrator” for “Director” wherever appearing. Pub. L. 112–141, § 100225(e)(3), redesignated subsecs. (d) and (e) as (f) and (g), respectively. 2004—Subsec. (b)(1). Pub. L 108–264, § 103(d)(1), added par. (1) and struck out former par. (1) which read as follows: “amounts from the National Flood Insurance Fund, in amounts not exceeding— “(A) $10,000,000 in the fiscal year ending

September 30, 1994; “(B) $15,000,000 in the fiscal year ending

September 30, 1995; “(C) $20,000,000 in the fiscal year ending

September 30, 1996; and “(D) $20,000,000 in each fiscal year thereafter;”. Subsecs. (c) to (e). Pub. L. 108–264, § 103(d)(2), (3), added subsec. (c) and redesignated former subsecs. (c) and (d) as (d) and (e), respectively.

Statutory Notes and Related Subsidiaries

Transfer of Functions

For transfer of all functions, personnel, assets, components, authorities, grant programs, and liabilities of the Federal Emergency Management Agency, including the functions of the Under Secretary for Federal Emergency Management relating thereto, to the Federal Emergency Management Agency, see section 315(a)(1) of Title 6, Domestic Security. For

Transfer of Functions

, personnel, assets, and liabilities of the Federal Emergency Management Agency, including the functions of the Director of the Federal Emergency Management Agency relating thereto, to the Secretary of Homeland Security, and for treatment of related references, see former section 313(1) and section 551(d), 552(d), and 557 of Title 6, Domestic Security, and the Department of Homeland Security Reorganization Plan of November 25, 2002, as modified, set out as a note under section 542 of Title 6.

§4104d National Flood Mitigation Fund

Summary

Title 42, §4104d

Notes & Related Subsidiaries

Editorial Notes

References in Text

Short Title

Amendments

Statutory Notes and Related Subsidiaries

Transfer of Functions

Transfer of Functions

Citations & Metadata