1. Short title This Act may be cited as the State Flood Mitigation Revolving Fund Act of 2018 . 2. State revolving loan funds for flood mitigation Chapter I of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4011 et seq.) is amended by adding at the end the following: 1326. State revolving loan funds for flood mitigation (a) Definitions In this section— (1) the term Community Rating System means the community rating system carried out under section 1315(b); (2) the term eligible State means a State, the District of Columbia, and the Commonwealth of Puerto Rico; (3) the term insular area means— (A) Guam; (B) American Samoa; (C) the Commonwealth of the Northern Mariana Islands; (D) the Federated States of Micronesia; (E) the Republic of the Marshall Islands; (F) the Republic of Palau; and (G) the United States Virgin Islands; (4) the term intended use plan means a plan prepared under subsection (d)(1); (5) the term low-income geographic area means an area described in paragraph (1) or (2) of section 301(a) of the Public Works and Economic Development Act of 1965 ( 42 U.S.C. 3161(a) ); (6) the term low-income homeowner means the owner of a primary residence, the household income of which in a taxable year is not more than 80 percent of the median income for the area in which the residence is located; (7) the term participating State means an eligible State that— (A) has entered into an agreement under subsection (b)(1); and (B) agrees to comply with the requirements of this section; (8) the term pre-FIRM building means a building for which construction or substantial improvement occurred before the effective date of the initial Flood Insurance Rate Map published by the Administrator under section 1360 for the area in which the building is located; (9) the term repetitive loss structure has the meaning given the term in section 1370(a); (10) the term severe repetitive loss property has the meaning given the term in section 1307(h)