Bill
Bill > HR5059
US HR5059
US HR5059To amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to provide for the authority to reimburse local governments for interest expenses, and for other purposes.
summary
Introduced
11/13/2019
11/13/2019
In Committee
11/14/2019
11/14/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to provide for the authority to reimburse local governments for interest expenses, and for other purposes. This bill authorizes the President to reimburse local governments for interest expenses for loans pertaining to disaster relief.
AI Summary
This bill authorizes the President to reimburse local governments for interest expenses on loans used to fund at least 90% of their disaster relief activities under the Robert T. Stafford Disaster Relief and Emergency Assistance Act. The reimbursement is limited to the lesser of the actual interest paid or two times the Federal Reserve's discount window primary credit interest rate. This provision aims to provide financial assistance to local governments by covering the interest costs associated with disaster relief efforts.
Committee Categories
Business and Industry, Transportation and Infrastructure
Sponsors (1)
Last Action
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management. (on 11/14/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/5059/all-info |
| BillText | https://www.congress.gov/116/bills/hr5059/BILLS-116hr5059ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr5059/BILLS-116hr5059ih.pdf.pdf |
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