To provide compensation to the citizens of Fernley, Nevada damaged by the failure of the Truckee Canal.

SA 4734. Mr. ENSIGN (for himself and Mr. Reid) proposed an amendment
to amendment SA 4707 proposed by Mr. Dodd (for himself and Mr. Shelby)
to the bill S. 2284, to amend the National Flood Insurance Act of 1968,
to restore the financial solvency of the flood insurance fund, and for
other purposes; as follows:

At the appropriate place, insert the following:

SEC. __. FERNLEY FLOOD COMPENSATION.

(a) Definitions.--In this section:
(1) Covered person.--The term ``covered person'' means a
United States citizen, an alien lawfully admitted for
permanent residence, the City of Fernley, Lyon County, a
person that is not an individual, or a school district.

[[Page S3982]]

(2) Fernley flood.--The term ``Fernley flood'' means the
breach of the Truckee Irrigation Canal on January 5, 2008,
and subsequent flooding of the City of Fernley, Nevada.
(3) Injured party.--The term ``injured party'' means a
covered person that suffered damages resulting from the
Fernley flood.
(b) Compensation and Source of Funds.--
(1) Compensation.--Each injured party shall be eligible to
receive from the United States compensation for damages
suffered as a result of the Fernley flood.
(2) Source of funds.--The Director shall compensate each
injured party for damages resulting from the Fernley flood
from the permanent judgment appropriation under section 1304
of title 31, United States Code.
(c) Insurance and Other Benefits.--The Director shall
reduce the amount to be paid to an injured party relating to
the Fernley flood by an amount that is equal to the total of
insurance benefits (excluding life insurance benefits) or
other payments or settlements of any nature relating to the
Fernley flood that were paid, or will be paid, to that
injured party.
(d) Acceptance of Award.--The acceptance by a injured party
of any payment under this section shall (excluding claims
relating to life insurance benefits)--
(1) be final and conclusive as to any claim of that injured
party relating to damages suffered because of the Fernley
flood; and
(2) constitute a complete and full release of all claims of
that injured party relating to the Fernley flood against the
United States, the State of Nevada, Lyon County, Nevada, the
City of Fernley, Nevada, and the Truckee-Carson Irrigation
District.
(e) Regulations.--Not later than 90 days after the date of
enactment of this Act, the Director shall promulgate and
publish in the Federal Register interim final regulations to
carry out this section.
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