A bill to amend the Flood Disaster Protection Act of 1973 to provide that the prohibition against Federal financial assistance for acquisition or construction purposes in an area having special flood hazards, where the property involved is not covered by flood insurance or the community is not participating in the national flood insurance program, shall be inapplicable if a flood control study or construction program is being carried on in such community.

Provides, under the Flood Disaster Protection Act, that the prohibition against Federal financial assistance for acquisition or construction purposes in an area having special flood hazards, where the property involved is not covered by flood insurance or the community is not participating in the national flood insurance program, shall be inapplicable if a flood control study or construction program is being carried on by the Army Corps of Engineers in such community.