H.R.6581 - Hurricane Sandy Recovery and Rebuilding Supplemental Appropriations Act, 2013112th Congress (2011-2012)
Summary: H.R.6581 — 112th Congress (2011-2012)
Introduced in House (11/02/2012)
Hurricane Sandy Recovery and Rebuilding Supplemental Appropriations Act, 2013 - Makes supplemental appropriations for FY2013 for: (1) the Department of Defense (DOD) for the Corps of Engineers for flood control and coastal emergencies for recovery from damage caused by Hurricane Sandy; (2) the Small Business Administration (SBA) for the Disaster Loans Program Account for the cost of direct loans to repair, rehabilitate, or replace property damaged or destroyed by a natural disaster; and (3) the Department of Homeland Security (DHS) for the Federal Emergency Management Agency (FEMA) for the Disaster Relief Fund for recovery from damage caused by Hurricane Sandy, and for the Disaster Assistance Direct Loan Program Account for the cost of direct loans authorized under the Stafford Disaster Relief and Emergency Assistance Act (Stafford Act) to assist state and local governments affected by Hurricane Sandy.
Applies Stafford Act provisions regarding community disaster loans to: (1) authorize the President to make loans to state or local governments (currently, limited to local governments) which suffer a substantial loss of tax and other revenues as a result of a major disaster that have demonstrated a need for financial assistance to perform governmental functions; and (2) permit any such loan to exceed $5 million and to be equal to not more than 50% of the annual operating budget of the state or local government in any case in which such government has suffered a loss of 25% or more in tax revenues due to Hurricane Sandy.