Hurricane Relief 2022: Funding for Reconstruction, Flood Protection, and Financial Aid.
This law redirects over one billion dollars, primarily from science and education research funds, toward urgent recovery efforts following Hurricanes Fiona, Ian, and Nicole. The funds are allocated to enhance flood protection, repair infrastructure, restore marine environments, and provide financial assistance to local governments and electric cooperatives. Crucially, it introduces a mechanism for reimbursing interest paid on disaster recovery loans, offering direct financial relief to affected communities.
Key points
Over $1 billion is rescinded from National Science Foundation (NSF) research funds and reallocated to hurricane relief and mitigation projects.
Local governments and electric cooperatives can be reimbursed for interest paid on loans used for disaster recovery activities, including loans taken out in the preceding five years.
Significant funding is directed to the Army Corps of Engineers for constructing flood and storm damage reduction projects and coastal restoration.
A new pilot program is established in Florida to provide grants for elevating structures in high-risk flood areas to reduce future disaster vulnerability.
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