A bill to amend the Disaster Relief Act of 1974 and the National Flood Insurance Act of 1968.

Amends the Disaster Relief Act of 1974 to: (1) specify the disaster related expenses of individuals or families which will be included and excluded from coverage by Presidential grants; (2) set forth the percentage of each such grant which may be expended by States and local government for grant administration; (3) include nursery and pre-school programs within the definition of "educational facilities" for purposes of receiving grants for repair and restoration.

Amends the National Flood Insurance Act of 1968 to establish a flood insurance coverage limit on residential dwelling units for any property and permanent fixtures contained thereon.