Emergency Advance Payments Modernization Act

This bill establishes a one-year pilot program using remote sensing technology (like satellite or drone data) to identify flooded properties faster, allowing the National Flood Insurance Program to issue advance payments to affected homeowners before manual inspections. It directly affects policyholders in flood zones whose properties are confirmed flooded via this technology, aiming to speed up financial assistance for repairs after disasters. Key provisions include using real-time data to increase payment speed and amount for eligible policyholders, with FEMA required to report on cost and timeliness impacts after the pilot ends. The program also includes a provision to forgive overpayments from pre-inspection advances.