On the recordDecember 9, 2024
Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, H.R. 2672, the FEMA Loan Interest Payment Relief Act, will help reduce the financial burden on local governments and electric cooperatives that are forced to take out loans to speed up rebuilding of projects eligible for FEMA assistance. On top of that, the current requirements for when interest can be reimbursed are confusing. The legislation clarifies when FEMA can reimburse the interest that local governments or electric cooperatives incurred on their disaster loans because they were waiting for Federal reimbursement from FEMA. I thank the gentleman from Florida, Dr. Dunn, for his leadership on this bipartisan legislation. Mr. Speaker, I urge support of the legislation, and I reserve the balance of my time.
