To amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to provide temporary emergency assistance for primary residences damaged or destroyed by Hurricanes Katrina and Rita.

Summary: Housing Opportunities and Mitigating Emergencies Act of 2005 - Amernds the Robert T. Stafford Disaster Relief and Emergency Assistance Act to require the Director of the Federal Emergency Management Agency (FEMA) to provide temporary emergency assistance for primary residences damaged or destroyed by Hurricanes Katrina and Rita.

Increases from 75% to 90% the amount the President may contribute toward the cost of cost-effective hazard mitigation measures which substantially reduce the risk of future damage, hardship, loss, or suffering in any area affected by a major disaster. Doubles from 7.5% to 15% of the estimated aggregate federal disaster relief grants to an area the limit on the total amount of such presidential contributions.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Housing Opportunities and Mitigating 
Emergencies Act of 2005''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) The Gulf Coast region of the United States was recently 
        decimated by twin natural disasters: Hurricanes Katrina and 
        Rita.
            (2) Hurricane Katrina crashed into the Gulf Coast on August 
        29, 2005, as a category 4 storm.
            (3) At the time of its landing, Hurricane Katrina was 
        recorded as the third strongest hurricane to ever make landfall 
        on the United States, with sustained winds over 140 miles per 
        hour.
            (4) The damage and destruction caused by Hurricane Katrina 
        along the coastal regions of Louisiana, Mississippi, and 
        Alabama were unmatched in their breadth and scope.
            (5) A 10- to 30-foot storm surge came ashore on over 200 
        continuous miles of coastline from southeast Louisiana, 
        including Mississippi and Alabama, through to the Florida 
        panhandle.
            (6) The 30-foot storm surge recorded at Biloxi, 
        Mississippi, is the highest ever observed in the United States.
            (7) Hurricane Katrina's storm surge quickly breached the 
        levee system that protected the city of New Orleans from Lake 
        Pontchartrain and the Mississippi River, subsequently flooding 
        at least 80 percent of the city.
            (8) The magnitude of Hurricane Katrina was of such an 
        unprecedented scale that the Federal disaster declarations 
        which followed its destructive path blanketed over 90,000 
        square miles of the United States, an area almost as large as 
        the United Kingdom, displacing more than 1,000,000 people--a 
        humanitarian crisis on a scale unseen in the United States 
        since the Great Depression.
            (9) The storm has now become the most destructive and 
        costliest natural disaster in the history of the United States, 
        resulting in over 1,300 deaths and estimated damage between 
        $70,000,000,000 and $130,000,000,000.
            (10) Less than one month later, on September 24, 2005, the 
        region was battered again, this time by the strongest-measured 
        hurricane to ever have entered the Gulf of Mexico--Hurricane 
        Rita.
            (11) Hurricane Rita came ashore between Texas and Louisiana 
        as a category 3 hurricane, packing winds up to 120 miles per 
        hour and a storm surge of 10 feet.
            (12) A day prior to landfall, the resultant storm surge 
        also reopened some of the levee breaches caused by Hurricane 
        Katrina a month earlier and re-flooded parts of New Orleans.
            (13) Local storm surges of 15 to 20 feet in southwestern 
        Louisiana were reported, and damage was extensive in coastal 
        parishes.
            (14) Thousands of residents and families in the effected 
        States, who lived outside the 100-year flood plain and were 
        told they did not need flood insurance, suffered significant 
        damage to their homes and in many cases total losses.
            (15) These families are currently without any type of 
        permanent shelter or any means by which to acquire such shelter 
        or otherwise make themselves whole, thus crippling the Gulf 
        Coast region and its economy.
            (16) Because of the unprecedented magnitude of the storm 
        and the impact that the devastation of such a large region will 
        have on the United States as a whole, the Federal Government 
        should play a role in providing emergency assistance to these 
        families to help them rebuild and get on with their lives.

SEC. 3. TEMPORARY EMERGENCY ASSISTANCE FOR PRIMARY RESIDENCES DAMAGED 
              OR DESTROYED BY HURRICANES KATRINA AND RITA.

    Title IV of the Robert T. Stafford Disaster Relief and Emergency 
Assistance Act (42 U.S.C. 5170 et seq.) is amended by adding at the end 
the following:

``SEC. 425. TEMPORARY EMERGENCY ASSISTANCE FOR PRIMARY RESIDENCES 
              DAMAGED OR DESTROYED BY HURRICANES KATRINA AND RITA.

    ``(a) In General.--The Director shall provide emergency assistance 
to owners of eligible structures in accordance with this section.
    ``(b) Application.--The Director shall provide for owners of 
eligible structures to submit applications for assistance under this 
section in such form, containing such information, and in accordance 
with such procedures, as the Director may require.
    ``(c) Use of Funds; Scope of Coverage.--
            ``(1) In general.--The amount of any assistance under this 
        section provided to an owner of an eligible structure in a 
        covered disaster area of a State may be used only for paying--
                    ``(A) the costs of repair, reconstruction, or 
                replacement of such structure or construction or 
                purchase of any other structure (including a 
                manufactured home) to be used as the primary residence 
                of the owner in the covered disaster area of such 
                State; or
                    ``(B) the amount remaining to be paid by the owner 
                on the mortgage of the eligible structure.
            ``(2) Replacement cost.--
                    ``(A) In general.--Subject to subsection (d), the 
                amount of any assistance provided under this section 
                shall be based on the replacement cost necessary for 
                repair, reconstruction, or replacement of the eligible 
                structure to its original specifications and standards 
                prior to--
                            ``(i) August 29, 2005, in the case of a 
                        structure damaged by flooding resulting from 
                        Hurricane Katrina; or
                            ``(ii) September 23, 2005, in the case of a 
                        structure damaged by flooding resulting from 
                        Hurricane Rita.
                Such costs shall include adjustments as necessary for 
                compliance with the requirements of subsection 
                (e)(1)(B).
                    ``(B) Documentation.--An owner of an eligible 
                structure applying for assistance under paragraph (1) 
                shall submit to the Director documentation and such 
                other evidence (including a report completed by a 
                State-licensed, nationally-certified home inspector) as 
                the Director may require to establish the replacement 
                cost of the eligible structure under subparagraph (A).
    ``(d) Cost Sharing.--
            ``(1) Federal share.--Subject to subsection (f) and 
        paragraph (2), the Federal share of the cost of assistance 
        provided under this section for an eligible structure that the 
        Director shall pay to the owner of the eligible structure shall 
        be 80 percent of the replacement cost of the eligible structure 
        as determined under subsection (c)(2).
            ``(2) Maximum amount.--The maximum amount of assistance 
        that may be provided to an owner of an eligible structure under 
        this section for such structure may not exceed $150,000.
            ``(3) Optional state share.--If the owner of an eligible 
        structure in a State is provided assistance under this section, 
        the State may provide to the owner 10 percent of the 
        replacement cost of the eligible structure as determined under 
        subsection (c)(2), but not to exceed $15,000.
    ``(e) Requirements Regarding Future Flood Insurance Coverage and 
Mitigation Actions.--
            ``(1) In general.--The Director may not provide assistance 
        under this section for an eligible structure unless--
                    ``(A) the owner of the property upon which the 
                eligible structure is located has entered into a 
                legally binding agreement with the Director, including 
                such deed restrictions as the Director considers 
                appropriate, to ensure that such owner, and any future 
                owners, will at all times after such assistance is 
                provided under this section with respect to the 
                property, purchase and maintain flood insurance, in 
                perpetuity, for any structures located at any time on 
                the same property on which, at the time of purchase, 
                such eligible structure is located, in an amount at 
                least equal to the lesser of--
                            ``(i) the value of the structure, as 
                        determined by the Director; or
                            ``(ii) the maximum limit of coverage made 
                        available with respect to the particular type 
                        of property under the National Flood Insurance 
                        Program, if such coverage is available; and
                    ``(B) the owner of the property certifies to the 
                Director that any structure constructed, repaired, or 
                reconstructed with such assistance will be constructed, 
                repaired, or reconstructed in accordance with--
                            ``(i) standards established by the 
                        International Code Council in effect at the 
                        time the building permit is issued by the local 
                        government to the owner of the eligible 
                        structure; and
                            ``(ii) any final flood elevations or flood 
                        maps in effect for purposes of the National 
                        Flood Insurance Program at the time the 
                        building permit is issued by the local 
                        government to the owner of the eligible 
                        structure and any advisory flood elevations or 
                        advisory flood insurance rate maps issued by 
                        the Director for purposes of such program 
                        before such building permit is issued.
            ``(2) Waiver authority.--The Director may waive the 
        requirements of paragraph (1)(B) with respect to the repair of 
        an eligible structure if the Director determines that the cost 
        of compliance with such requirements by the owner in repairing 
        the eligible structure outweigh the benefit derived from such 
        compliance pursuant to a substantial damage analysis.
    ``(f)  Prohibition on Duplicative Benefits in Excess of Replacement 
Costs.--Notwithstanding section 312, the Director shall assure that no 
owner of an eligible structure will receive assistance under this 
section that, when combined with other financial assistance received by 
the owner under any program, including section 404 or 408, or from 
insurance or any other source for the purpose of repair, 
reconstruction, or replacement of the eligible structure, is in excess 
of the replacement cost of the eligible structure as determined under 
subsection (c)(2). Before receipt of any assistance for which an owner 
is eligible under this section for an eligible structure, the owner 
shall enter into a legally binding agreement with the Director to repay 
any and all of such assistance that is in excess of the replacement 
cost of the eligible structure as determined under subsection (c)(2).
    ``(g) Verification of Use of Funds and Compliance.--
            ``(1) Documentation; reports.--Within 6 months after the 
        date on which an owner of an eligible structure receives 
        assistance under this section, and every 6 months thereafter 
        until all such assistance is accounted for, the owner shall 
        submit to the Director--
                    ``(A) all receipts and documentation verifying the 
                use of such assistance for the purpose for which it was 
                provided; and
                    ``(B) reports completed by a State-licensed, 
                nationally-certified home inspector verifying 
                compliance by the owner with the requirements of 
                subsection (e)(1)(B) if such requirements are not 
                waived by the Director.
            ``(2) Enforcement.--The Director may suspend assistance 
        under this section, and take any additional action which the 
        Director deems appropriate, with respect to an owner of an 
        eligible structure if the Director determines that the owner is 
        not complying with paragraph (1).
    ``(h) Definitions.--In this section, the following definitions 
apply:
            ``(1) Covered disaster area.--The term `covered disaster 
        area' means an area--
                    ``(A) for which a major disaster was declared by 
                the Director pursuant to title IV of the Robert T. 
                Stafford Disaster Relief and Emergency Assistance Act 
                as a result of Hurricane Katrina or Hurricane Rita in 
                2005; and
                    ``(B) in which the sale of flood insurance coverage 
                was available under the National Flood Insurance Act of 
                1968 (42 U.S.C. 4001 et seq.) as of--
                            ``(i) August 29, 2005, in the case of an 
                        area for which a declaration referred to in 
                        subparagraph (A) was made as a result of 
                        Hurricane Katrina; or
                            ``(ii) September 23, 2005, in the case of 
                        an area for which a declaration referred to in 
                        subparagraph (A) was made as a result of 
                        Hurricane Rita.
            ``(2) Eligible structure.--The term `eligible structure' 
        means a structure (including a manufactured home) that--
                    ``(A) sustained damage or losses from flooding 
                resulting from Hurricane Katrina or Hurricane Rita in 
                2005;
                    ``(B) is located in a covered disaster area;
                    ``(C) is a residential structure that was used as 
                the primary residence of the owner of the structure as 
                of--
                            ``(i) August 29, 2005, in the case of a 
                        structure damaged by flooding resulting from 
                        Hurricane Katrina; and
                            ``(ii) September 23, 2005, in the case of a 
                        structure damaged by flooding resulting from 
                        Hurricane Rita;
                    ``(D) was covered by an insurance policy for losses 
                caused by wind or windstorm as of--
                            ``(i) August 29, 2005, in the case of a 
                        structure damaged by flooding resulting from 
                        Hurricane Katrina; and
                            ``(ii) September 23, 2005, in the case of a 
                        structure damaged by flooding resulting from 
                        Hurricane Rita;
                    ``(E) is of a type for which coverage was generally 
                made available under the National Flood Insurance 
                Program as of August 29, 2005; and
                    ``(F) is not located in an area that has been 
                identified by the Director as an area having special 
                flood hazards (as such term is used for purposes of 
                section 102 of the Flood Disaster Protection Act of 
                1973 (42 U.S.C. 4012a)) as of August 29, 2005.
            ``(3) Director.--The term `Director' means the Director of 
        the Federal Emergency Management Agency.
    ``(i) Termination.--The Director may not provide any assistance 
under this section except pursuant to an application for such 
assistance submitted to the Director before the expiration of the 180-
day period beginning on the date of the enactment of this section.
    ``(j) Regulations.--The Director may issue any regulations 
necessary to carry out this section.''.

SEC. 4. HAZARD MITIGATION.

    (a) In General.--Section 404(a) of the Robert T. Stafford Disaster 
Relief and Emergency Assistance Act (42 U.S.C. 5170c(a)) is amended--
            (1) in the first sentence by striking ``75'' and inserting 
        ``90''; and
            (2) in the last sentence by striking ``7.5'' and inserting 
        ``15''.
    (b) Property Acquisition and Relocation Assistance.--Section 404(b) 
of such Act (42 U.S.C. 5170c(b)) is amended by adding at the end the 
following:
            ``(4) Reduction.--The amount of any assistance that would 
        otherwise be provided to an owner of an eligible structure 
        under section 425(c)(1)(B) shall be reduced by the amount of 
        assistance the owner receives for such structure under such 
        section.''.
    (c) Applicability.--The amendments made by subsections (a) and (b) 
shall apply with respect to a major disaster declared by the President 
on or after August 24, 2005.