S. 3418: STORM Act: signed into law by potus Jan 1, 2021
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/
https://www.congress.gov/bill/116th-congress/senate-bill/3418/text
This Bill may have significance, not sure exactly how though. Potus in september may have alluded to a bill/law that would have bearing (that he would sign or be effected) on Jan 1, 2021, since the Hospital pricing transparency bill was being discussed publically, I assume he was not referring to that.
The bill amend purpose:
To amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to allow the Administrator of 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, and other related environmental harm.
I did not review the Stafford Act to determine what was changed, but read it looking for anything that seemed significant.
It was sponsored by a Michigan Dem, Gary Peters on March 9, 2020, passed Dec. 19, 2020.
what i can add is, as we know with Cal. wildfires, corrupt Gov's mis-use disaster funds which are intended to mitigate problems, which then create moar problems when a problem arises, which gains them moar $, with no consequence for failing to mitigate.
I think you can lump these programs into a (often) BIG fraud scheme designed to benefit large developers, and insider land speculators. While Gov's are dishing out contracts with a low level of specific performance monitoring, the end result creates nearly impossible barriers for average developers to generate successful projects, even with desireable land, and enables insiders to turn otherwise worthless land into profitable development, because Gov $ pays for improvements, and aides in permitting, etc. Also when it benefits them to do so, land owners are paid to not develop, and paid high dollars of taxpayer $ to create conservation land.
The land development game is truly among the most lucrative ROI for Gov. insiders, and creates a steady stream of cashflow from bank financing/loans whereby up to 90% of a projects profit can be realized before a single house or building is built. Remember Whitewater, many do it when they achieve a certain level/rank.
https://www.govtrack.us/congress/bills/116/s3418
https://www.congress.gov/bill/116th-congress/senate-bill/3418/text