FEMA has announced $600 million in fiscal year (FY) 2026 funding through its Flood Mitigation Assistance (FMA) Swift Current program. The program provides accelerated post-disaster funding for projects that reduce repetitive flood damage to National Flood Insurance Program (NFIP)-insured properties following qualifying flood disasters or major disaster declarations between June 1, 2025, and May 31, 2027. Up to $40 million per disaster is available.
Key objectives include:
Increase community flood resilience and reduce future flood losses
Accelerate mitigation funding so projects can be implemented shortly after flood events rather than waiting for traditional annual grant cycles
Reduce future claims and financial exposure to the NFIP
States, territories, and Tribes apply on behalf of local communities. Application deadlines are established after a disaster declaration, typically 60-180 days after the disaster declaration. Download the Funding Bulletin to learn more.