H.R. 5242 · 111th Congress
Business Disaster Recovery Assistance Act of 2010
- Stage
- In committee
- Sponsor
- Joe Courtney
- Introduced
- 2010-05-06
- Latest action
- 2010-05-07 · Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
Summary
Business Disaster Recovery Assistance Act of 2010 - Directs the Administrator of the Federal Emergency Management Agency (FEMA) to establish a program to assist a covered entity affected by a major disaster. (Defines "covered entity" to mean a business or private nonprofit organization operating in an area with respect to which the President declared, during the 60-day period preceding the date the entity submitted a grant application, a major disaster under the Robert T. Stafford Disaster Relief and Emergency Assistance Act.)
Authorizes the Administrator to make a grant to a covered entity to assist in: (1) the repair or replacement of the entity's property that was damaged as a direct result of a major disaster; and (2) meeting the entity's ordinary and necessary financial obligations that might not otherwise be met as a direct result of a major disaster.
Limits each grant to $28,000. Directs the Administrator to adjust the limit annually to reflect changes in the Consumer Price Index for All Urban Consumers published by the Department of Labor.