Bill Text: TX HB3222 | 2023-2024 | 88th Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to eligibility for a loan under the disaster recovery loan program.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2023-06-11 - Effective on 9/1/23 [HB3222 Detail]
Download: Texas-2023-HB3222-Comm_Sub.html
Bill Title: Relating to eligibility for a loan under the disaster recovery loan program.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2023-06-11 - Effective on 9/1/23 [HB3222 Detail]
Download: Texas-2023-HB3222-Comm_Sub.html
By: Guillen (Senate Sponsor - Kolkhorst) | H.B. No. 3222 | |
(In the Senate - Received from the House May 3, 2023; | ||
May 9, 2023, read first time and referred to Committee on Water, | ||
Agriculture & Rural Affairs; May 12, 2023, reported favorably by | ||
the following vote: Yeas 8, Nays 0; May 12, 2023, 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 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: | ||
(i) has submitted to the division, within | ||
30 [ |
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political subdivision, the political subdivision's operating | ||
budget for the most recent fiscal year; and | ||
(ii) has submitted an application for a | ||
loan from the Federal Emergency Management Agency's community | ||
disaster loan program; | ||
(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, in consultation with the Federal | ||
Emergency Management Agency, determines that the estimated cost to | ||
rebuild the political subdivision's infrastructure damaged in the | ||
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. | ||
SECTION 2. The change in law made by this Act applies only | ||
to an application for a loan that is filed on or after the effective | ||
date of this Act. A loan application filed before that date is | ||
governed by the law in effect on the date the application was filed, | ||
and the former law is continued in effect for that purpose. | ||
SECTION 3. This Act takes effect September 1, 2023. | ||
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