1. Short title This Act may be cited as the Flood Resiliency and Taxpayer Savings Act of 2020 . 2. Findings and purpose (a) Findings The Congress finds that— (1) floods are the most common natural disaster in the United States, causing injuries, damage, and destruction in all 50 States since 2012; (2) recent storms have strained the capacity of many local and State governments to respond and recover, necessitating significant increases in disaster assistance from the Federal Government; (3) the Congressional Budget Office has cautioned that U.S. economic losses associated with heavy precipitation, storm surges, and hurricane winds could average $54 billion every year and require Federal spending averaging $17 billion per year; (4) according to the Federal Emergency Management Agency, nearly 250 weather-related disasters in the United States have caused at least $1 billion in damage each since 1980; (5) since 2005 alone, Federal funding for disaster assistance has exceeded $450 billion, including over $19 billion in supplemental appropriations signed into law in June of 2019; (6) after reviewing just a portion of the Federal Government property inventory, the Office of Management and Budget identified significant flood risks, including more than $80 billion in Federal assets located in designated flood zones; (7) a 2017 study of Federal mitigation grants conducted by National Institute of Building Sciences Multihazard Mitigation Council demonstrated that mitigation investment can save the Nation, on average, $6 in future disaster costs for every $1 spent on hazard mitigation; and (8) the Government Accountability Office has recommended that enhanced Federal and local efforts to improve resilience can reduce the effects and costs of future disasters. (b) Purpose It is the purpose of this Act— (1) to improve the resiliency of communities and assets of the Federal Government against flooding, thereby limiting damage, reducing the need to rebuild after floods, and saving taxpayer dollars