FEDERAL ASSISTANCE TO INDIVIDUALS AND HOUSEHOLDS.

SEC. 1103. FEDERAL ASSISTANCE TO INDIVIDUALS AND HOUSEHOLDS. Section 408(c)(1)(B) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5174(c)(1)(B)) is amended— (1) by redesignating clauses (ii) and (iii) as clauses (iii) and (iv), respectively; (2) by inserting after clause (i) the following: “(ii) Lease and repair of rental units for temporary housing. “(I) In general. The President, to the extent the President determines it would be a cost-effective alternative to other temporary housing options, may— “(aa) enter into lease agreements with owners of multifamily rental property located in areas covered by a major disaster declaration to house individuals and households eligible for assistance under this section; and “(bb) make repairs or improvements to properties under such lease agreements, to the extent necessary to serve as safe and adequate temporary housing. “(II) Improvements or repairs. Under the terms of any lease agreement for property entered into under this subsection, the value of the improvements or repairs— “(aa) shall be deducted from the value of the lease agreement; and “(bb) may not exceed the value of the lease agreement.” ; and (3) in clause (iv) (as so redesignated) by striking “clause (ii)” and inserting “clause (iii)”.