Mr Diver, who has led protests to Leinster House, has called for a 100pc redress scheme for homes built with defective blocks that led to them crumbling.
The Sunday Independent reported yesterday that affected homeowners will be offered a full 100pc grant for all remediation works, which will be capped at €420,000 per home.
The plans for the new scheme would cost the State more than €2.2bn.
The memo, which Housing Minister Darragh O'Brien is expected to bring to Cabinet tomorrow, also includes details of a possible levy that would see the construction industry paying into a fund towards the cost.
Speaking to the Herald, Mr Diver called on the Government to "end this torture" for homeowners.
"As long as we're able to get on with our lives and they don't screw us with the devil in the detail - because it's past that - we want them to end this torture."
Mr Diver said the scheme will "boil down" to the maximum amount paid per square foot to repair the existing property.
"The €420,000 figure means nothing in my eyes, because who will actually be allowed to get at it?" he asked.
"I'm that disgusted at the minute that I am actually thinking of storming Leinster House."
Mr Diver also called on Sinn Féin to table a motion of no confidence in the Government and urged other Fianna Fáil and Fine Gael TDs to "take down" the Government if 100pc redress is not delivered.
He warned that the scheme could be "worse than the last" and that the mental health of homeowners at the heart of the crisis is at stake.
The revised scheme would be extended to cover some rental properties as well as a resident's principal property.
Eamonn Jackson, chairman of the Mica Action Group, said that under the proposals, 18pc of homeowners who are part of the group will still have to "dip into their pockets" to rebuild their homes.
He said that the group was initially pushing for a €500,000 cap, which would allow redress for homes of 4,000 sq ft.
"A cap of €420,000 doesn't mean 100pc either," he said.
Mr Jackson said that the "primary" cap under the scheme would be the amount allocated per square foot.
"The initial cap would be the square footage charge, because you can't give €420,000 to every home," he said.
"If the Government are giving anything less than €150 per sq m as the primary cap, it's not enough."
He said that a potential levy on construction companies would not be helpful as the levy will be ultimately paid for by the customer.
"We'll end up paying for that levy. It's just going to push up the prices for rebuilding homes," he said.
"I'm not in favour of it.
"Am I in favour of fining these companies and looking to see if these companies did anything criminally wrong? Absolutely."