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:
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Increase community flood resilience and reduce future flood losses
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Accelerate mitigation funding so projects can be implemented shortly after flood events rather than waiting for traditional annual grant cycles
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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.
