H.R. 2836 · 119th Congress
FEMA Loan Interest Payment Relief Act
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R
DunnSponsor18 cosponsors · 4 D, 14 R
R
Bilirakis
TC
D
Carter
BD
R
Donalds
CG
R
Gimenez
CH
R
Higgins
LL
R
Lee
BM
R
Moore
CM
R
Mills
JM
D
Moskowitz
DS
D
Soto
DW
R
Webster
AB
R
Bean
CF
R
Franklin
WS
R
Steube
KC
R
Cammack
JR
R
Rutherford
HS
D
Scholten
MH
R
Haridopolos11 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill requires the Federal Emergency Management Agency (FEMA) to reimburse a local government or electric cooperative for interest paid on a loan used for emergency or disaster-related activities later paid for by FEMA assistance. The bill provides for similar reimbursement of interest to states for projects that are pending obligation.
What it does: CRS summary · Introduced in House · Apr 10, 2025
FEMA Loan Interest Payment Relief Act
This bill requires the Federal Emergency Management Agency (FEMA) to reimburse a local government or electric cooperative for interest paid on a loan used for emergency or disaster-related activities later paid for by FEMA assistance. The bill provides for similar reimbursement of interest to states for projects that are pending obligation.
The bill retroactively applies to interest incurred by a local government or electric cooperative in the nine years preceding enactment of the bill.
FEMA must reimburse states for loan interest for emergency or disaster-related projects that are pending obligation on the date of the bill’s enactment. FEMA must publish procedures for such reimbursement within 30 days after the bill’s enactment and states must apply within 60 days after publication of the procedures.
The interest that qualifies for reimbursement may not exceed the amount of interest that would have been paid if the loan's interest rate were equal to the most recent prime rate.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: FEMA Loan Interest Payment Relief Act
Latest action (Apr 10, 2025): Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
Policy area: Emergency Management · Origin: House · Introduced: Apr 10, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.