[Code of Federal Regulations]
[Title 7, Volume 11]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1806.23]

[Page 1164-1165]
 
                          TITLE 7--AGRICULTURE
 
    CHAPTER XVIII--RURAL HOUSING SERVICE, RURAL BUSINESS-COOPERATIVE 
SERVICE, RURAL UTILITIES SERVICE, AND FARM SERVICE AGENCY, DEPARTMENT OF 
                               AGRICULTURE
 
PART 1806--INSURANCE--Table of Contents
 
                   Subpart B--National Flood Insurance
 
Sec. 1806.23  Definitions.

    For the purpose of this subpart, the following definitions apply:
    (a) Financial assistance means any form of direct, insured or 
guaranteed loan, including reamortization and assumption on new terms of 
any loan, any form of grant, or other form of direct or indirect 
assistance extended by the FmHA or its successor agency under Public Law 
103-354.
    (b) Financial assistance for acquisition or construction purposes 
means any form of Federal financial assistance which is intended in 
whole or in part for the acquisition, construction, reconstruction, or 
substantial improvement of any

[[Page 1165]]

building and for any machinery, equipment, fixtures and furnishings 
contained or to be contained in such buildings.
    (c) Community means any state or political subdivision thereof, such 
as county, parish, township, city or other local government which has 
zoning and building code jurisdiction over a particular area having 
special flood hazards.
    (d) Eligible community means a community in which the Administrator 
of FIA has authorized the sale of flood insurance under the program.
    (e) Designated special flood ormudslide prone area means those areas 
in a community subject to flood or mudslide which have been identified 
by flood hazard boundary maps or those areas not identified by maps but 
where, due to emergency, the FIA Administrator has authorized the sale 
of flood insurance.
    (f) Flood means a general and temporary condition of partial or 
complete inundation of normally dry land areas from the overflow of 
streams, rivers, or other inland water, the collapse or subsidence of 
land along the shore of a lake or other body of water as a result of 
erosion or undermining caused by waves or currents of water exceeding 
anticipated cyclical levels, or abnormally high tidal water or rising 
coastal waters resulting from severe storms, hurricanes, or tidal waves 
resulting from volcano eruptions or earthquakes.
    (g) Mudslide or mudflow means a major occurrence involving the 
appearance of a large river or flow of ``liquid mud'' down a hillside, 
usually as a result of earlier brushfires followed by heavy rains over a 
widespread area.
    (h) Flood insurance means insurance coverage for floods and/or 
mudslides under the program or otherwise acceptable to FIA.
    (i) Building means any walled and roofed structure, other than a gas 
or liquid tank, that is principally above ground and affixed to a 
permanent site. Residential and most types of industrial, commercial, 
and agricultural buildings, such as lumber sheds, machinery storage 
sheds, grain storage bins, and silos, are included in this definition.
    (j) Substantial improvement means any repair, reconstruction or 
improvement of a structure, the cost of which equals or exceeds 50 
percent of the actual cash value of the structure either before the 
improvement is started or, if the structure has been damaged and is 
being restored, before the damage occurred.