S. 1877 would make additional projects eligible for funding under grant programs that the Federal Emergency Management Agency (FEMA) administers to help state and local governments and residential and commercial property owners avert damage from natural disasters in the future. Under the bill, FEMA could approve applications to acquire property or relocate structures if a project’s planning or construction begins before a grant is awarded and if the project is exempt from environmental review under the National Environmental Policy Act. CBO estimates that enacting H.R. 1877 would not affect direct spending or revenues. CBO estimates that implementing the bill would increase discretionary costs by $10 million over the 2023-2027 period, but that spending would be subject to the availability of appropriated funds. The bill contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.