A bill to require the Secretary of Housing and Urban Development to provide a disclosure notice to homebuyers of properties owned by the Department of Housing and Urban Development that are located in special flood hazard areas, and for other purposes.

Bill 118 s 3649, also known as the "Disclosure Notice for HUD-Owned Properties in Flood Hazard Areas Act," aims to ensure that homebuyers are informed about the potential risks of purchasing properties owned by the Department of Housing and Urban Development (HUD) that are located in special flood hazard areas.

The bill requires the Secretary of HUD to provide a disclosure notice to homebuyers that clearly outlines the property's location in a special flood hazard area and the potential risks associated with flooding. This notice is intended to help buyers make informed decisions about purchasing these properties and to prevent any surprises or financial burdens that may arise from flooding events.

In addition to the disclosure notice, the bill also includes provisions for HUD to take necessary steps to mitigate flood risks for these properties, such as implementing flood prevention measures or providing information on flood insurance options. Overall, the goal of Bill 118 s 3649 is to promote transparency and accountability in the sale of HUD-owned properties in flood hazard areas, ultimately protecting homebuyers from potential financial and safety risks associated with flooding.