On Monday, the House of
Representatives passed a bill to help communities hit by a natural disaster.
The house passed the FEMA Loan Interest Payment Relief
Act, which was introduced by Congressman Neal Dunn in 2023.
The FEMA Loan Interest Payment Relief Act amends the
Stafford Act to allow for reimbursement of qualifying interest on loans used to
fund disaster recovery efforts.
The bill would apply retroactively to loans taken
within seven years prior to enactment, addressing ongoing challenges for
communities still recovering from past disasters.
The bill now goes to the Senate for its consideration.
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