; (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); (11) the term State loan fund means a flood mitigation assistance revolving loan fund established by an eligible State under this section; and (12) the term tribal government means the recognized government of an Indian tribe, or the governing body of an Alaska Native regional or village corporation, that has been determined eligible to receive services from the Bureau of Indian Affairs. (b) General authority (1) In general The Administrator may enter into an agreement with an eligible State to provide a capitalization grant for the eligible State to establish a revolving fund that will provide funding assistance to help homeowners, businesses, nonprofit organizations, and communities reduce flood risk in order to decrease— (A) the loss of life and property; (B) the cost of flood insurance