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Economic Development (11 - 18 of 18 items) in Past Year
Flood Insurance: Potential Barriers Cited to Increased Use of Private Insurance
GAO-16-611: Published: Jul 14, 2016. Publicly Released: Jul 14, 2016.
Lenders and their regulators have taken some action to implement provisions on private flood insurance in the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters Act). Specifically, lenders told GAO they send notifications to borrowers that encourage borrowers to compare private and National Flood Insurance Program (NFIP) policies. Lenders with whom GAO spoke accepted private policie...
Railroad Financing: Stakeholders' Views on Recent Changes to the Railroad Rehabilitation and Improvement Financing Program
GAO-16-714R: Published: Jul 13, 2016. Publicly Released: Jul 13, 2016.
The Fixing America’s Surface Transportation (FAST) Act, which was enacted in December 2015, made a number of significant changes to the Railroad Rehabilitation and Improvement Financing (RRIF) program, but the Department of Transportation (DOT) and the modal administration that is responsible for the program, the Federal Railroad Administration (FRA), are still in the early stages of implementin...
Disaster Recovery: FEMA Needs to Assess Its Effectiveness in Implementing the National Disaster Recovery Framework
GAO-16-476: Published: May 26, 2016. Publicly Released: May 26, 2016.
The Department of Homeland Security's (DHS) Federal Emergency Management Agency (FEMA) is responsible for implementing the National Disaster Recovery Framework (NDRF) and working in partnership with states as they play a lead role in the recovery process. As shown in the figure below, FEMA coordinates federal recovery stakeholders using six Recovery Support Functions—structures through which fed...
National Flood Insurance Program: Continued Progress Needed to Fully Address Prior GAO Recommendations on Rate-Setting Methods
GAO-16-59: Published: Mar 17, 2016. Publicly Released: Apr 18, 2016.
The Federal Emergency Management Agency (FEMA) sets National Flood Insurance Program (NFIP) full-risk rates using a model that includes some characteristics of catastrophe models used by private insurers. In particular, both models assess flood probability and damage to estimate potential flood losses. Like private insurers, NFIP also uses variables specific to each structure in estimating the deg...
Federal Emergency Management Agency: Progress and Continuing Challenges in National Preparedness Efforts
GAO-16-560T: Published: Apr 12, 2016. Publicly Released: Apr 12, 2016.
GAO's recent work highlights both the progress and challenges in the Department of Homeland Security's (DHS) Federal Emergency Management Agency's (FEMA) efforts to strengthen federal preparedness.In December 2014, GAO reported that the federal departments responsible for coordinating emergency support functions (ESF) in preparation for national disaster response carry out their responsibilities i...
HUBZone Program: Actions Taken on February 2015 GAO Recommendations
GAO-16-423R: Published: Mar 24, 2016. Publicly Released: Mar 24, 2016.
As of March 8, 2016, the Small Business Administration (SBA) had taken some actions to address but had not fully implemented the two recommendations GAO made in February 2015 to address weaknesses in SBA’s oversight of the Historically Underutilized Business Zone (HUBZone) program. The program provides federal contracting preferences to small businesses located in HUBZone areas that also employ...
Alaska Native Corporations: Oversight Weaknesses Continue to Limit SBA's Ability to Monitor Compliance with 8(a) Program Requirements
GAO-16-113: Published: Mar 21, 2016. Publicly Released: Mar 21, 2016.
GAO has reported in the past that the Small Business Administration's (SBA) ability to enforce regulations prohibiting the award of follow-on, sole-source contracts to 8(a) subsidiary firms of the same Alaska Native Corporation (ANC) relies on contract information from other federal agencies that is sometimes incomplete. SBA's regulations prohibit program participants from receiving an 8(a) sole-s...
National Flood Insurance Program: Options for Providing Affordability Assistance
GAO-16-190: Published: Feb 10, 2016. Publicly Released: Mar 10, 2016.
Options for targeting assistance to subsidized policyholders of primary residences who may experience difficulty paying full-risk rates for their National Flood Insurance Program (NFIP) policies include means testing assistance based on the income level of policyholders or geographic areas, setting premium caps, and basing assistance on the cost of mitigating the risk of damage to their homes. Cur...