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HR 4090 109th Congress House Emergency Management Collection of accounts Disaster loans Disaster relief Economics and Public Finance Federal-local relations Federal-state relations Finance and Financial Sector Government Operations and Politics Government lending Hurricane aftermath legislation Income tax Interest Local finance Local taxation State finance State taxation Taxation

Whatever It Takes to Rebuild Act, Part II

Introduced: October 20, 2005 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 21, 2005
Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
Oct 20, 2005
Sponsor introductory remarks on measure. (CR E2139-2140)
Oct 20, 2005
Referred to the House Committee on Transportation and Infrastructure.
Oct 20, 2005
Introduced in House
 Plain-English summary Congressional Research Service

Whatever It Takes to Rebuild Act, Part II - Repeals the Community Disaster Loan Act of 2005.

Amends the Robert T. Stafford Disaster Relief and Emergency Assistance Act to authorize the President to make community disaster loans to any state government which may suffer a substantial loss of tax and other revenue as a result of a major disaster, and has demonstrated a need for financial assistance in order to perform its governmental functions.

Removes the $5 million cap set for community disaster loans.

Provides that in the case of a community disaster loan made to a state or local government which suffers a substantial loss of tax and other revenues as a result of a major disaster the President determines to be an incident of national significance: (1) the amount of the loan shall not be subject to the current limitation of 25% of the annual operating budget of that state or local government for the fiscal year in which the major disaster occurs; and (2) the President shall not require the payment of any interest or principal on a loans.

What's happening now October 21, 2005

Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1