Page 30, line 38, strike "Not set out." and set out Item 113, and insert:
"L.1. Notwithstanding the provisions of § 10.1-1330, Code of Virginia, the Director of the Department of Planning and Budget shall transfer $11.4 million to the Department of Housing and Community Development from unobligated balances of the Regional Greenhouse Gas Initiative Fund (02018) within 10 days of the passage of this act for the purposes of providing relief to residents of Virginia that lost or sustained property damage as a result of a flood disaster, mudslide, or landslide occurring on or after August 1, 2021, but before September 31, 2021, and subject to Major Disaster Declaration (FEMA-4628-DR) issued by President Biden on October 26, 2021.
2. The department shall establish a program to provide flood relief to eligible applicants, which shall include individual property owners and business owners affected by a flood disaster, mudslide, or landslide. The department shall establish procedures for filing and resolving claims, which shall include measures to prevent fraud, and which may include any criteria the department determines reasonable to carry out the provisions of this paragraph. The amount of relief provided to an eligible applicant shall be equal to 175% of the property value for the realty that sustained major damage or represents a total loss, as defined by 7. and 8. below. The department shall award funds for estimated repairs up to the maximums contained in this paragraph for a realty that does not meet the definition of total loss or major damage, as defined by 7. and 8. below. Any payment made to an eligible applicant from this paragraph shall not exceed $500,000 for a residential realty and $1,000,000 for a commercial realty. If an eligible applicant owns multiple, noncontiguous properties in an area affected by the disaster in paragraph L.1. of this item, the eligible applicant may file separate claims for each parcel, and the maximums described in this paragraph shall apply to each separate claim. The department shall reduce payments by any federal or state relief or insurance payments received by the eligible applicant for property repairs or damage related to the disaster described in paragraph L.1 of this item.
3. Payments under paragraph L. of this item shall be subject to the availability of funds. If claims exceed available funds, the department shall make payments in the order that claims were received.
4. The department shall not provide relief under this section for realty that was abandoned or uninhabited at the time of the disaster described in paragraph L.1. of this item.
5. No recourse may be had by any person, organization, or entity against a recipient of payment under this paragraph, absent any evidence of misuse of funds. Misuse of funds shall be established by a showing that a recipient knowingly misapplied the proceeds of a payment received under this paragraph. If a showing of misuse of funds has been made, then a person may seek recourse against the recipient for an amount no greater than the extent of the payment.
6. Relief awarded pursuant to this paragraph is excluded from gross income and is not subject to taxation.
7. "Total loss" means real property that has been destroyed, such that there is a total loss of the structure, the structure is not economically feasible to repair, or there is a complete failure to major structural components, such as the collapse of the basement, wall, or roof.
8. "Major damage" means real property that has substantial failure to its structural elements, such as walls, floor, or foundation, or that has sustained damage that will take more than 30 days to repair.
9. "Eligible applicant" means any individual property owner or business owner that lost or sustained property damage as a result of a flood disaster, mudslide, or landslide occurring on or after August 1, 2021, but before September 31, 2021, and subject to Major Disaster Declaration (FEMA-4628-DR) issued by President Biden on October 26, 2021.
10. Any funds remaining at the end of the fiscal year shall be carried forward into the next fiscal year by the department for the purposes described in this paragraph L."