
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC4104d]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
                  CHAPTER 50--NATIONAL FLOOD INSURANCE
 
  SUBCHAPTER III--COORDINATION OF FLOOD INSURANCE WITH LAND-MANAGEMENT 
                      PROGRAMS IN FLOOD-PRONE AREAS
 
Sec. 4104d. National Flood Mitigation Fund


(a) Establishment and availability

    The Director shall establish in the Treasury of the United States a 
fund to be known as the National Flood Mitigation Fund, which shall be 
credited with amounts described in subsection (b) of this section and 
shall be available, to the extent provided in appropriation Acts, for 
providing assistance under section 4104c of this title.

(b) Credits

    The National Flood Mitigation Fund shall be credited with--
        (1) amounts from the National Flood Insurance Fund, in amounts 
    not exceeding--
            (A) $10,000,000 in the fiscal year ending September 30, 
        1994;
            (B) $15,000,000 in the fiscal year ending September 30, 
        1995;
            (C) $20,000,000 in the fiscal year ending September 30, 
        1996; and
            (D) $20,000,000 in each fiscal year thereafter;

        (2) any penalties collected under section 4012a(f) of this 
    title; and
        (3) any amounts recaptured under section 4104c(i) of this title.

(c) Investment

    If the Director determines that the amounts in the National Flood 
Mitigation Fund are in excess of amounts needed under subsection (a) of 
this section, the Director may invest any excess amounts the Director 
determines advisable in interest-bearing obligations issued or 
guaranteed by the United States.

(d) Report

    The Director shall submit a report to the Congress not later than 
the expiration of the 1-year period beginning on September 23, 1994, and 
not less than once during each successive 2-year period thereafter. The 
report shall describe the status of the Fund and any activities carried 
out with amounts from the Fund.

(Pub. L. 90-448, title XIII, Sec. 1367, as added Pub. L. 103-325, title 
V, Sec. 554(a), Sept. 23, 1994, 108 Stat. 2273.)

                          Codification

    September 23, 1994, referred to in subsec. (d), was in the original 
``the date of enactment of this Act'', which was translated as meaning 
the date of enactment of Pub. L. 103-325, which enacted this section, to 
reflect the probable intent of Congress.

                  Section Referred to in Other Sections

    This section is referred to in sections 4012a, 4017, 4104c of this 
title.
