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‘‘(vi) the Economic Development Ad-
ministration (42 U.S.C. 3121 et seq.),
‘‘(vii) the Corps of Engineers, and
‘‘(viii) the General Services Adminis-
tration (40 U.S.C. 751 et seq.);
provided that such specifically designated amounts
under this paragraph shall be in addition to and not
in lieu of annual appropriations for these programs.
‘‘(2) AMOUNT OF ACCOUNT.—The Public Loss
Account shall retain a reserve of funds sufficient to
cover the anticipated costs resulting from natural
disasters up to the annual 10-year historical average
of disaster relief provided by the Director.
‘‘(3) AUTHORIZATION.—There is authorized to
be appropriated from the general fund such sums as
may be necessary to carry out this section.
‘‘(c) PURPOSES OF ACCOUNT.—
‘‘(1) REBUILDING GRANTS.—The Public Loss
Account shall provide grants to States for the repair
or restoration of critical facilities and lifelines, public
facilities, and infrastructure damaged or destroyed
by natural disasters.
‘‘(2) PRE-DISASTER
MITIGATION.—The Public
Loss Account shall provide grants to States for pre-
natural disaster hazard mitigation, including retro-
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fitting of critical facilities and lifelines and public fa-
cilities.
‘‘(3) FEDERAL SHARE.—
‘‘(A) COMPLIANCE
STATE.—The Federal
share of the grants provided from the Public
Loss Account under this subsection shall be 75
percent if the State receiving such grants is in
compliance with the hazard mitigation time pe-
riods described in section 813.
‘‘(B) NON-COMPLIANCE
STATE.—Consist-
ent with the penalty described in section
814(a), the Federal share shall be 50 percent if
the State receiving grants under this subsection
is not in compliance with the hazard mitigation
time periods described in section 813.
(C) WAIVER.—The Federal share percent-
ages described in subparagraphs (A) and (B)
shall be increased only upon the enactment of
a joint resolution that shall not be designated
as an emergency under section 251(b)(2)(D) of
the Balanced Budget and Emergency Deficit
Control Act of 1985 (2 U.S.C. 901(b)(2)(D)).
‘‘SEC. 1004. MITIGATION ACCOUNT.
‘‘(a) PURPOSE OF THE ACCOUNT.—The Mitigation
Account established in section 1001(b) shall support the
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natural disaster hazard mitigation efforts described in
subtitle B of title VIII.
‘‘(b) MITIGATION SET ASIDE.—
‘‘(1) IN GENERAL.—The Corporation shall pay
a percent of the annual net premiums collected for
the primary insurance coverages described in subtitle
B of title IX and the reinsurance coverage described
in subtitle C of title IX for natural disaster hazard
mitigation purposes.
‘‘(2) 
PRECISE
PERCENTAGE.—The 
percent
amount described in paragraph (1) shall be 7.5 per-
cent or a percentage amount which totals on an an-
nual basis $200,000,000, adjusted annually in ac-
cordance with the percentage change in the
Consumer Price Index, which ever amount is less.
‘‘(c) DEPOSITS.—The Director shall transfer and
credit on an annual basis to the Mitigation Account
amounts received from—
‘‘(1) the percent set aside of the annual pre-
miums described in subsection (b); and
‘‘(2) appropriations provided for pre-natural
disaster hazard mitigation activities under this Act.
‘‘(d) AUTHORIZATION.—For the purposes of sub-
section (c)(2) only, there is authorized to be appropriated
annually amounts equal to the amounts provided annually
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from the percent set aside of premiums received pursuant
to subsection (b).’’.
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