Construction and insurance standards must be set for hazard-prone areas
What the document says“The Secretary, in consultation with the Administrator of the Federal Emergency Management Agency, shall establish minimum construction standards, insurance purchase requirements, and other requirements for the use of grant funds in hazard-prone areas.”
The new section 124 requires the Secretary, with the Administrator of the Federal Emergency Management Agency, to set minimum construction standards, insurance purchase requirements, and other requirements for using grant funds in hazard-prone areas. Those are areas at risk from natural hazards such as floods, wildfires, earthquakes, lava inundation, tornados, and high winds, and include special flood hazard areas, where the insurance requirements must meet or exceed those in section 102(a) of the Flood Disaster Protection Act of 1973. All grants count as financial assistance for purposes of that Act, and the Secretary may consider future risks in identifying hazard-prone areas.
What the document actually says“The Secretary, in consultation with the Administrator of the Federal Emergency Management Agency, shall establish minimum construction standards, insurance purchase requirements, and other requirements for the use of grant funds in hazard-prone areas.”
The housing agency must set least standards for building in risky places. It must also ask for insurance there. It works with the storm agency to do so.
A risky place here is one open to floods, fire, quakes, or high winds. Building back the same way invites the same loss. The rules aim to change that.
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