Exempts ecosystem restoration projects from flood map change review fees and lets communities allow certain such projects in floodways even when they raise base flood elevations by up to 1 foot.

• Rewrites Section 22 of the Homeowner Flood Insurance Affordability Act of 2014 to define ecosystem restoration projects.
• Waives review or processing fees for flood insurance rate map change requests based on these projects.
• Lets communities permit projects in regulatory floodways that raise base flood elevations, if a professional engineer finds the increase is no more than 1 foot and no insurable structure or critical infrastructure is adversely affected, with an analysis due to FEMA within 180 days after completion.
• Requires FEMA to issue implementing guidance within 180 days after enactment, after consulting federal and state natural resource agencies.

• Banking, Housing, and Urban Affairs Committee (Senate)

Finance and Financial Sector