summary
Introduced
04/18/2023
04/18/2023
In Committee
09/18/2024
09/18/2024
Crossed Over
12/10/2024
12/10/2024
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
AN ACT To amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to provide for the authority to reimburse local governments or electric cooperatives for interest expenses, and for other purposes.
AI Summary
This bill, the FEMA Loan Interest Payment Relief Act, aims to amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to provide financial assistance to local governments or electric cooperatives as reimbursement for "qualifying interest" paid on loans used to fund disaster relief activities. The bill defines "qualifying interest" as the lesser of the actual interest paid or the interest that would have been paid if the loan had an interest rate equal to the prime rate. The bill also states that qualifying interest incurred in the 7 years prior to the bill's enactment would be eligible for reimbursement, and that only funds appropriated after the bill's enactment may be used to carry out this amendment.
Committee Categories
Business and Industry, Military Affairs and Security, Transportation and Infrastructure
Sponsors (35)
Neal Dunn (R)*,
Aaron Bean (R),
Gus Bilirakis (R),
Sanford Bishop (D),
Vern Buchanan (R),
Kat Cammack (R),
Troy Carter (D),
Sheila Cherfilus-McCormick (D),
Mario Diaz-Balart (R),
Byron Donalds (R),
Mike Ezell (R),
Lois Frankel (D),
Scott Franklin (R),
Carlos Giménez (R),
Jenniffer González (R),
Garret Graves (R),
Michael Guest (R),
Clay Higgins (R),
Trent Kelly (R),
Kevin Kiley (I),
Laurel Lee (R),
Julia Letlow (R),
Anna Luna (R),
Cathy McMorris Rodgers (R),
Cory Mills (R),
Barry Moore (R),
Jared Moskowitz (D),
Jimmy Panetta (D),
Dean Phillips (D),
Bill Posey (R),
John Rutherford (R),
Darren Soto (D),
Pete Stauber (R),
Debbie Wasserman Schultz (D),
Daniel Webster (R),
Last Action
Received in the Senate and Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (on 12/10/2024)
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/118th-congress/house-bill/2672/all-info |
| BillText | https://www.congress.gov/118/bills/hr2672/BILLS-118hr2672eh.pdf |
| BillText | https://www.congress.gov/118/bills/hr2672/BILLS-118hr2672rh.pdf |
| BillText | https://www.congress.gov/118/bills/hr2672/BILLS-118hr2672ih.pdf |
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