88R14003 YDB-D
By: Guillen H.B. No. 3222
A BILL TO BE ENTITLED
AN ACT
relating to eligibility for a loan under the disaster recovery loan
program.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 418.062, Government Code, is amended to
read as follows:
Sec. 418.062. ELIGIBILITY FOR LOAN. A political
subdivision may apply to the division for a loan under this
subchapter if:
(1) the political subdivision:
(A) is located wholly or partly in an area
declared to be a disaster area by the governor or the president of
the United States; and
(B) before applying to the division for a loan
under this subchapter:
(i) has submitted to the division, within
30 [15] days of the date of its adoption by the governing body of the
political subdivision, the political subdivision's operating
budget for the most recent fiscal year; and
(ii) has submitted an application for a
loan from the Federal Emergency Management Agency's community
disaster loan program;
(2) an assessment of damages due to the disaster for
which the declaration was made has been conducted in the political
subdivision; and
(3) the division, in consultation with the Federal
Emergency Management Agency, determines that the estimated cost to
rebuild the political subdivision's infrastructure damaged in the
disaster is greater than 50 percent of the political subdivision's
total revenue for the current year as shown in the most recent
operating budget of the political subdivision submitted to the
division under this section.
SECTION 2. The change in law made by this Act applies only
to an application for a loan that is filed on or after the effective
date of this Act. A loan application filed before that date is
governed by the law in effect on the date the application was filed,
and the former law is continued in effect for that purpose.
SECTION 3. This Act takes effect September 1, 2023.