Disaster Streamlining and Costs Reduction Act of 1997

[AI summary unavailable — showing source text] Disaster Streamlining and Costs Reduction Act of 1997 - Amends the Robert T. Stafford Disaster Relief and Emergency Assistance Act to authorize the Director of the Federal Emergency Management Agency to: (1) establish a predisaster mitigation program to assist State and local governments to reduce injuries, loss of life, and damage or destruction of property from disasters; (2) use incentives and other mitigation measures to reduce the cost of disasters to Federal, State, and local governments, particularly damages to public facilities, and to the private sector; and (3) make predisaster mitigation grants to States and local governments and eligible private nonprofit organizations of not less than 75 percent of the cost of hazard mitigation measures. Requires the Director to: (1) establish grant standards, incentives, and criteria; and (2) establish a National Predisaster Mitigation Fund. Authorizes appropriations to the Fund. Directs the President to establish management cost rates for grant recipients. Authorizes the President to provide incentives for Federal shares of assistance for mitigation measures for applicants that have implemented the standards, incentives, and criteria…