2014 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Krupicka
FEMA Flood Insurance Payment Reduction

Item 357 #13h

Item 357 #13h

First Year - FY2015 Second Year - FY2016
Natural Resources
Conservation and Recreation, Department of FY2015 $1,000,000 FY2016 $1,000,000 GF

Page 299, line 34, strike "$72,540,947" and insert "$73,540,947".
Page 299, line 34, strike "$48,639,397" and insert "$49,639,397".
Page 301, after line 53, insert:
"L. Out of the amounts appropriated for this item, $1,000,000 the first year and $1,000,000 the second year is provided for a pilot program to establish a state matching grant program to assist localities in lowering the rating in the National Flood Insurance Program's Community Rating System.  Any applicant for a grant from this pilot program shall provide a like amount from local sources to match the value of any grant that may be provided to assist in lowering the community's flood insurance program rating."

(This amendment provides general fund support to develop a pilot program for the Commonwealth to partner with localities to assist them in lowering their rating class in the Community Rating System for FEMA's National Flood Insurance Program. Lowering the class provides residents with additional discounts on their homeowner flood insurance premiums. The pilot program will create a state grant program to match local funding for efforts designed to lower rating classes.)