II 109th CONGRESS 1st Session S. 1386 IN THE SENATE OF THE UNITED STATES July 13, 2005 Mr. Martinez introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To exclude from consideration as income certain payments under the national flood insurance program.

1.

Treatment of certain payments under national flood insurance program

Chapter I of the National Flood Insurance Act of 1968 (42 U.S.C. 4011 et seq.) is amended by adding at the end the following new section:

1324.

Treatment of certain payments

Assistance provided under a program under this title for flood mitigation activities (including any assistance provided under the mitigation pilot program under section 1361A, any assistance provided under the mitigation assistance program under section 1366, and any funding provided under section 1323) with respect to a property shall not be considered income or a resource of the owner (or any lessee or user) of the property when determining eligibility for or benefit levels under any income assistance or resource-tested program that is funded in whole or in part by an agency of the United States or by appropriated funds of the United States.

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