On Friday, January 1, 2021, the President signed into law:

S. 3418, the “Safeguarding Tomorrow through Ongoing Risk Mitigation Act” or the “STORM Act,” which authorizes the Federal Emergency Management Agency to provide capitalization grants to States to establish revolving funds to provide hazard mitigation assistance to reduce risks from disasters and natural hazards.

https://www.whitehouse.gov/briefings-statements/bill-announcement-010121/