Bill Text: TX HB2696 | 2021-2022 | 87th Legislature | Comm Sub
Bill Title: Relating to eligibility for a loan under the disaster recovery loan program.
Spectrum: Bipartisan Bill
Status: (Engrossed - Dead) 2021-05-26 - Removed from local & uncontested calendar [HB2696 Detail]
Download: Texas-2021-HB2696-Comm_Sub.html
By: Morrison, et al. (Senate Sponsor - Kolkhorst) | H.B. No. 2696 | |
(In the Senate - Received from the House May 17, 2021; | ||
May 17, 2021, read first time and referred to Committee on Finance; | ||
May 21, 2021, reported favorably by the following vote: Yeas 9, | ||
Nays 0; May 21, 2021, sent to printer.) | ||
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relating to eligibility for a loan under the disaster recovery loan | ||
program. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 418.062, Government Code, is amended to | ||
read as follows: | ||
Sec. 418.062. ELIGIBILITY FOR LOAN. (a) A political | ||
subdivision may apply to the division for a loan under this | ||
subchapter if: | ||
(1) the political subdivision: | ||
(A) is located wholly or partly in an area | ||
declared to be a disaster area by the governor or the president of | ||
the United States; and | ||
(B) before applying to the division for a loan | ||
under this subchapter, submits[ |
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[ |
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budget for the most recent fiscal year; [ |
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[ |
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(2) an assessment of damages due to the disaster for | ||
which the declaration was made has been conducted in the political | ||
subdivision; and | ||
(3) the division[ |
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subdivision's estimated cost to appropriately respond to [ |
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disaster is greater than 50 percent of the political subdivision's | ||
total revenue for the current year as shown in the most recent | ||
operating budget of the political subdivision submitted to the | ||
division under this section. | ||
(b) The division may consult with the Federal Emergency | ||
Management Agency in making the determination required under | ||
Subsection (a)(3). | ||
SECTION 2. The change in law made by this Act applies only | ||
to a loan the application for which is filed on or after the | ||
effective date of this Act. A loan the application for which is | ||
filed before that date is governed by the law in effect on the date | ||
on which the application was filed, and the former law is continued | ||
in effect for that purpose. | ||
SECTION 3. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2021. | ||
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