Disaster Management Costs Modernization Act

Key Provisions

• Lets states, Indian Tribes, and territories use leftover money from managing closed disaster recovery projects.
• Defines "excess funds for management costs" as the unspent portion of money set aside for managing a specific project once it is finished.
• Gives the President the power to make these leftover funds available to states, Indian Tribes, and territories.
• Allows these funds to be used for building capacity, preparing for, recovering from, or reducing the impact of future disasters, or for managing other disaster-related activities.
• Ensures these leftover funds would be available for up to 5 years after they are made available.
• Requires the government's watchdog, the GAO, to study how much money is spent on disaster management costs and report to Congress within 180 days.