SEC-947 -- REPORT ON SEISMIC SAFETY PROPERTY STANDARDS. 

 
 (a) Authority.-The Secretary of Housing and Urban Development (in this
section referred to as the "Secretary") shall assess the risk of
earthquake-related damage to properties assisted under programs
administered by the Secretary and shall develop seismic safety standards
for such properties. This section may not be construed to prohibit the
Secretary from deferring to local building codes that meet the
requirements of the seismic safety standards developed under this
section.
 
 (b) Standards.-The standards shall be designed to reduce the risk of
loss of life to building occupants to the maximum extent feasible and
to reduce the risk of shake-related property damage to the maximum
extent practicable.
 
 (c) Consultation.-In carrying out this section, the Secretary shall
consult with the Director of the Federal Emergency Management Agency and
may utilize the resources under the National Earthquake Hazards
Reduction Program (established under the Earthquake Hazards Reduction
Act of 1977) and any other resources as may be required to carry out the
activities under this section.
 
 (d) Reports.-
 
 (1) Submission and contents.-The Secretary shall submit a report to the
Congress, not less than biennially, containing a statement of the
findings of the risk assessment study conducted under this section,
including risk assessment of properties located in seismic risk zones
and a compilation of the standards developed pursuant to this section.
The report shall also include a statement of the activities undertaken
by the Secretary to carry out this section and the amount and sources
of any funds expended by the Secretary for such purposes. The report
shall also include a statement of the activities undertaken by the
Secretary to carry out the requirements of Executive Order No. 12699
(January 5, 1990) and the amount and sources of any funds expended by
the Secretary for such purposes.
 
 (2) Initial submission.-The first report required under this subsection
shall be submitted not later than the expiration of the 18-month period
beginning on the date of the enactment of this Act.
Subtitle D-Miscellaneous Programs