H.R. 6750, The Whatever It Takes To Rebuild Act

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
• This bill, or a similar bill, was reintroduced in the current Congress as H.R. 1130, The Whatever It Takes To Rebuild Act.

Version saved on November 13, 2008, 19:31:44, by webmaster:

H.R. 6750 would amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to modify the terms of the community disaster loan program.

Detailed Summary

Whatever It Takes to Rebuild Act - Amends the Robert T. Stafford Disaster Relief and Emergency Assistance Act to: (1) authorize the President to make disaster loans to any state government that suffers a substantial loss of tax and other revenue as a result of a major disaster and demonstrates a need for financial assistance in order to perform its governmental functions; (2) repeal the $5 million cap for disaster loans; and (3) exempt a disaster loan made to a state or local government that suffers a substantial loss of revenues as a result of a major disaster the President determines to be a catastrophic event from the percentage of the annual state or local government operating budget limitations and from the payment of any interest or principal.

Status of the Legislation

Latest Major Action: 8/1/2008: Referred to House subcommittee. Status: Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.

Points in Favor

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Points Against

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