1. Short title This Act may be cited as the Build for Future Disasters Act of 2020 . 2. Congressional findings The Congress makes the following findings: (1) According to the National Oceanic and Atmospheric Administration, since 2000, flooding has become the most common and costly natural disaster in the United States, impacting all 50 States and causing more than $845 billion in damage. (2) A 2019 report from the California-based analytics company CoreLogic found that 7.3 million homes along the Atlantic and Gulf Coasts alone are at risk from storm surge, with a potential $1.8 trillion in reconstruction costs. (3) Research from New York University’s Furman Center for Real Estate and Urban Policy estimated that, in 2015, 15 million people nationwide lived in the 100-year floodplain spread across coastal and inland States. (4) The National Flood Insurance Program (NFIP), administered by the Federal Emergency Management Agency (FEMA), provides federally backed flood insurance in over 22,000 communities in 56 States and jurisdictions in the United States with more than 5 million policies providing over $1.3 trillion in coverage. (5) In 1966, while calling for the creation of the NFIP, the Task Force on Federal Flood Control Policy provided a caution on flood insurance that if incorrectly applied, it could exacerbate the whole problem of flood losses. . The report warned that insurance coverage not proportionate to risk would invite economic waste of great magnitude … aggravate flood damages and constitute gross public irresponsibility . (6) According to the Government Accountability Office (GAO), the NFIP offers 20 percent of policyholders heavily subsidized rates that FEMA estimates may be 45 to 50 percent below a full-risk rate. (7) Since 2005, the NFIP has borrowed nearly $40 billion from taxpayers to meet policyholder insurance claims. (8) In 2017, the Congressional Budget Office estimated that under its current model the NFIP is expected to lose $1.3 billion a year. (9) Historically, repeatedly flooded