H.R. 1130 · 111th Congress
Whatever It Takes To Rebuild Act
- Stage
- In committee
- Sponsor
- Carolyn Maloney
- Introduced
- 2009-02-23
- Latest action
- 2009-02-24 · Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
Summary
Whatever It Takes to Rebuild Act - Amends the Robert T. Stafford Disaster Relief and Emergency Assistance Act to: (1) authorize the President to make disaster loans to any state government that suffers a substantial loss of tax and other revenue as a result of a major disaster and demonstrates a need for financial assistance in order to perform its governmental functions; (2) repeal the $5 million cap for disaster loans; and (3) exempt a disaster loan made to a state or local government that suffers a substantial loss of revenues as a result of a major disaster the President determines to be a catastrophic event from the percentage of the annual state or local government operating budget limitations and from the payment of any interest or principal.