FEMA Loan Interest Relief for Local Governments and Electric Co-ops
This act allows the federal government to reimburse local governments and electric cooperatives for interest paid on loans taken out for disaster recovery. This means local authorities and power providers can receive financial support, potentially leading to more stable public services and reduced burdens on residents after disasters.
Key points
Local governments and electric cooperatives can get reimbursed for interest on disaster recovery loans.
The relief covers interest incurred up to 5 years before the act's enactment.
The goal is to ease financial strain on local communities after disasters.
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