1. Short title This Act may be cited as the Resilient Communities Act of 2019 . 2. Revolving loan funds to mitigate for multiple hazards Title II of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5131 et seq.) is amended by adding at the end the following: 205. Revolving loan fund (a) Definitions In this section— (1) the term eligible entity means a State or Indian Tribal Government as those terms are defined in section 102 of this Act; (2) the term participating entity means an eligible entity that— (A) has entered into an agreement under subsection (b)(1); and (B) agrees to comply with the requirements of this section; (3) the term mitigation loan fund means a multihazard mitigation assistance revolving loan fund established by an eligible entity under this section; and (4) the term eligible recipient means a local governmental entity, a State agency or subdivision thereof. (b) General authority (1) In general The Administrator may enter into an agreement with an eligible entity to provide a capitalization grant for the eligible entity to establish a revolving loan fund that will provide funding assistance to an eligible recipient to reduce disaster risks for homeowners, businesses, nonprofit organizations, and communities in order to decrease— (A) the loss of life and property; (B) the cost of insurance; and (C) Federal disaster payments. (2) Timing of deposit and agreements for distribution of funds (A) In general Not later than the last day of the fiscal year following the fiscal year in which a capitalization grant is made to a participating entity under paragraph (1), the participating entity shall— (i) deposit the grant in the mitigation loan fund of the eligible entity