Bill H.466 aims to enhance flood response and resilience by establishing a voluntary buyout program for properties at risk of flooding. This program is intended for properties that do not qualify for Federal Emergency Management Agency (FEMA) buyouts or are identified by local municipalities for redevelopment or restoration efforts. Additionally, the bill proposes the creation of a homeowner assistance program that would provide financial support for various initiatives, including elevating homes in flood-prone areas, relocating displaced residents to permanent housing, and rebuilding homes with flood-resilient materials and designs.

The bill emphasizes the importance of proactive measures in managing flood risks and supporting affected communities. By facilitating voluntary buyouts and offering financial assistance for home improvements and relocations, the legislation seeks to promote safer living conditions and enhance the overall resilience of communities vulnerable to flooding.