(a)
Abolishment— The Federal Emergency Management Agency is abolished effective on the date that is 2 years after the date of enactment of this Act.
(b)
Unobligated funds— Any funds made available to the Administrator of the Federal Emergency Management Agency that are unobligated on the abolishment date described in subsection (a) shall be transferred to the general fund of the Treasury and made available to carry out the program established under section 2.
(c)
Transfer of functions— All functions that immediately before the abolishment date specified in subsection (a) are authorized to be performed by the Administrator of the Federal Emergency Management Agency, any other officer or employee of the Agency acting in that capacity, or any agency or office of the Agency, are transferred to the President effective on such abolishment date.
(d)
Personnel and assets— Except as otherwise provided in this Act, so much of the personnel, property, and records employed, used, held, available, or to be made available in connection with a function transferred to the President under subsection (c) shall be available to the President, at such time or times as the President directs for use in connection with the functions transferred.
(e)
References— Any reference in any other Federal law, Executive order, rule, regulation, or delegation of authority, or any document of or pertaining to the Federal Emergency Management Agency—
(1)
to the Administrator of the Federal Emergency Management Agency is deemed to refer to the President; or
(2)
to the Federal Emergency Management Agency is deemed to refer to the Executive Office of the President.