H.R. 7008 would amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to provide for disaster assistance for electric utility companies serving low-income households.

== Detailed Summary ==

<summary>
(Log inLow-Income Rate Payer Disaster Recovery Act of 2008 - Amends the Robert T. Stafford Disaster Relief and Emergency Assistance Act to editauthorize the wikiPresident to make contributions to the owner or operator of a private or investor-owned electric utility company serving low-income households for facilities damaged or destroyed by a major disaster only if the costs of repairing, restoring, reconstructing, or replacing such facilities exceed 10% of the facilities' total transmission and bedistribution rate base minus: (1) accumulated depreciation on the date of the disaster in the case of a single major disaster; or (2) accumulated depreciation on the date of the first major disaster in the case of an aggregation of major disaters during the preceding 12 months.

Sets forth application deadlines.

Prohibits the total amount of contributions made to providean owner or operator from exceeding $50 million in any 12-month period. Authorizes the President, for any major disaster occurring after enactment of this Act, to waive the limit upon determining that the event is of an extraordinary nature. Requires the President to approve or disapprove applications within 30 days after receipt.

Allows an owner or operator who determines that the public welfare would not best be served by repairing, restoring, reconstructing, or replacing a detailed summaryfacility to elect to receive, in lieu of the cost-based contribution, 75% of the bill!)funding that would have been available.
</summary>

<!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. -->

== Status of the Legislation ==

<status>
Latest Major Action: 9/23/2008: Referred to House committee. Status: Referred to the House Committee on Transportation and Infrastructure.
</status>

<!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. -->

== Points in Favor ==

(Log in to edit the wiki and be the first to show why the bill should pass!)
<!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! -->

== Points Against ==

(Log in to edit the wiki and be the first to show why the bill should not pass!)
<!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! -->