The Federal Emergency Management Agency (FEMA) has announced a new $600 million funding opportunity to help states, territories and Tribal Nations reduce flood risk through community-led mitigation projects.

Available through the Fiscal Year 2026 Flood Mitigation Assistance (FMA) Swift Current program, the funding is intended to accelerate recovery and resilience efforts following major flood disasters. The program supports projects that reduce or eliminate repetitive flood damage to structures insured through the National Flood Insurance Program (NFIP).

FEMA said the latest funding cycle includes several changes designed to speed project delivery and reduce administrative burdens. Among the updates are the removal of project scoping as an eligible activity and a new provision allowing multiple qualifying flood disasters to be consolidated into a single application period.

To qualify, states, territories and Tribal Nations must have received a presidentially declared flood-related emergency or major disaster between June 1, 2025, and May 31, 2027. Application deadlines will vary based on the timing of each qualifying disaster, and local governments are encouraged to work with their State Hazard Mitigation Officer to pursue funding.