ment Act of 1968 (42 U.S.C. 4022(b)) for 
communities in the entity; 
‘‘(C) information on the availability of, and 
application process for, financial assistance from 
the entity loan fund of such entity; 
‘‘(D) the criteria and methods established 
for the distribution of funds; 
‘‘(E) the amount of financial assistance that 
the entity anticipates apportioning; 
‘‘(F) the expected terms of the assistance 
provided from the entity loan fund; and 
‘‘(G) a description of the financial status of 
the entity loan fund, including short-term and 
long-term goals for the fund. 
‘‘(g) AUDITS, REPORTS, PUBLICATIONS, AND OVER-
SIGHT.— 
‘‘(1) BIENNIAL ENTITY AUDIT AND REPORT.—Be-
ginning not later than the last day of the second fis-
cal year after the receipt of payments under this sec-
tion, and biennially thereafter, any participating en-
tity shall— 
‘‘(A) conduct an audit of such fund estab-
lished under subsection (b); and 
‘‘(B) provide to the Administrator a report 
including— 
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‘‘(i) the result of any such audit; and 
‘‘(ii) a review of the effectiveness of the 
entity loan fund of the entity with respect 
to meeting the goals and intended benefits 
described in the intended use plan sub-
mitted by the entity under subsection (e). 
‘‘(2) PUBLICATION.—A participating entity shall 
publish and periodically update information about all 
projects receiving funding from the entity loan fund 
of such entity, including— 
‘‘(A) the location of the project; 
‘‘(B) the type and amount of assistance pro-
vided from the entity loan fund; 
‘‘(C) the expected funding schedule; and 
‘‘(D) the anticipated date of completion of 
the project. 
‘‘(3) OVERSIGHT.— 
‘‘(A) IN
GENERAL.—The Administrator 
shall, at least every 4 years, conduct reviews and 
audits as may be determined necessary or appro-
priate by the Administrator to carry out the ob-
jectives of this section and determine the effec-
tiveness of the fund in reducing hazard risk. 
‘‘(B) GAO 
REQUIREMENTS.—The entity 
shall conduct audits under paragraph (1) in ac-
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cordance with the auditing procedures of the 
Government Accountability Office, including 
chapter 75 of title 31. 
‘‘(C) 
RECOMMENDATIONS
BY
ADMINIS-
TRATOR.—The Administrator may at any time 
make recommendations for or require specific 
changes to an entity’s loan fund in order to im-
prove the effectiveness of the fund. 
‘‘(h) REGULATIONS
OR GUIDANCE.—The Adminis-
trator shall issue such regulations or guidance as are nec-
essary to— 
‘‘(1) ensure that each participating entity uses 
funds as efficiently as possible; and 
‘‘(2) reduce waste, fraud, and abuse to the max-
imum extent possible. 
‘‘(i) WAIVER AUTHORITY.—Until such time as the Ad-
ministrator issues regulations to implement this section, the 
Administrator may— 
‘‘(1) waive notice and comment rulemaking, if 
the Administrator determines the waiver is necessary 
to expeditiously implement this section; and 
‘‘(2) provide capitalization grants under this sec-
tion as a pilot program. 
‘‘(j) DEFINITIONS.—In this section, the following defi-
nitions apply: 
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‘‘(1) ELIGIBLE ENTITY.—The term ‘eligible enti-
ty’ means a State or an Indian tribal government (as 
such terms are defined in section 102 of this Act (42 
U.S.C. 5122)). 
‘‘(2) HAZARD MITIGATION PLAN.—The term ‘haz-
ard mitigation plan’ means a mitigation plan sub-
mitted under section 322 and approved by the Ad-
ministrator. 
‘‘(3) LOW-INCOME GEOGRAPHIC AREA.—The term 
‘low-income geographic area’ means an area described 
in paragraph (1) or (2) of section 301(a) of the Pub-
lic Works and Economic Development Act of 1965 (42 
U.S.C. 3161(a)). 
‘‘(4) PARTICIPATING ENTITY.—The term ‘partici-
pating entity’ means an eligible entity that has en-
tered into an agreement under this section. 
‘‘(5) REPETITIVE LOSS STRUCTURE.—The term 
‘repetitive loss structure’ has the meaning given the 
term in section 1370 of the National Flood Insurance 
Act (42 U.S.C. 4121). 
‘‘(6) SEVERE REPETITIVE LOSS STRUCTURE.— 
The term ‘severe repetitive loss structure’ has the 
meaning given the term in section 1366(h) of the Na-
tional Flood Insurance Act (42 U.S.C. 4104c(h). 
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‘‘(7) WILDLAND-URBAN
INTERFACE.—The term 
‘wildland-urban interface’ has the meaning given the 
term in section 101 of the Healthy Forests Restora-
tion Act of 2003 (16 U.S.C. 6511). 
‘‘(k) AUTHORIZATION OF APPROPRIATIONS.—There is 
authorized to be appropriated $100,000,000 for each of fis-
cal years 2020 and 2021.’’. 
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