This bill would abolish the Federal Emergency Management Agency (FEMA) within two years of enactment and replace it with a block grant program administered by the Treasury Secretary that provides disaster relief funding directly to states. States would receive grants based on a formula considering population size, historical disaster frequency, geographic risk factors like flood plains and earthquake zones, and economic need, with funds usable for disaster preparedness, response and recovery operations, and mitigation projects. Each state would need to submit an annual emergency management plan by April 1st for approval before receiving funds, and report annually on how the money was spent and outcomes achieved, with audits conducted at least yearly. The block grant program itself would expire four years after the formula is established, with 20 percent of allocated funds reserved for federal administration and auditing costs, while states can spend up to 5 percent of their grants on administrative expenses.
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