42 U.S.C. § 5162 — Advance of non-Federal share
submitted 38 years ago by Pub. L. 93-288 to r/title-42-THE-PUBLIC-HEALTH-AND-WELFARE · 210 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
The President may lend or advance to an eligible applicant or a State* the portion of assistance for which the State is responsible under the cost-sharing* provisions of this chapter in any case in which—
the State is unable to assume its financial responsibility under such cost-sharing provisions—
with respect to concurrent, multiple major disasters in a jurisdiction, or
after incurring extraordinary costs as a result of a particular disaster; and
the damages caused by such disasters or disaster are so overwhelming and severe that it is not possible for the applicant or the State to assume immediately their financial responsibility under this chapter.
Any loan or advance under this section shall be repaid to the United States.
Loans and advances under this section shall bear interest at a rate determined by the Secretary* of the Treasury, taking into consideration the current market yields on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the reimbursement period of the loan or advance.
The President shall issue regulations describing the terms and conditions under which any loan or advance authorized by this section may be made.
Source credit: (Pub. L. 93–288, title III, § 319, as added Pub. L. 100–707, title I, § 105(m)(1), Nov. 23, 1988, 102 Stat. 4695.)
- 1988Enacted · Pub. L. 93-288 · 102 Stat. 4695
A history note hasn’t been published yet. The record shows enactment by Pub. L. 93-288 on 1988-11-23.
all 0 arguments · sorted by: best
no arguments yet — make the first case