FEMA Aid: Interest Reimbursement for Local Governments After Disasters
This act allows FEMA to reimburse local governments and electric cooperatives for interest paid on loans taken for disaster recovery. This means local authorities and power providers can recover some costs, potentially leading to more stable services and reduced financial burdens for residents after difficult events.
Key points
FEMA will reimburse interest on loans taken by local governments and electric cooperatives for disaster-related activities.
Reimbursement covers interest paid up to 9 years prior to the act's enactment date.
Simplified procedures will be established for states to quickly obtain reimbursement.
Introduced
Citizen Poll