,,ii  #aafth ,,congress  #b;d ,session  
,s4 #cdjg  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,march #e1     
#bjbj,mr4 ,rubio 7for himself and ,mr4  
,scott of ,florida7 introduced the      
following bill2 which was read twice and
 referred to the ,committee on ,homeland
 ,security and ,governmental ,affairs   
,a ,,bill  ,to amend the ,robert ,t4    
,stafford ,disaster ,relief and         
,emergency ,assistance ,act to provide  
for the authority to reimburse local    
governments for interest expenses1 and  
for other purposes4  #a4 ,short title   
,this ,act may be cited as the ,fairness
 in ,disaster ,relief ,act4  #b4        
,reimbursement of interest payments     
related to public assistance ,title ,,iv
 of the ,robert ,t4 ,stafford ,disaster 
,relief and ,emergency ,assistance ,act 
7#db ,u4,s4,c4 #eagj et seq47 is amended
 by adding at the end the following3    
#dca4 ,reimbursement of interest        
payments related to public assistance   
7a7 ,in general ,the ,president may     

provide financial assistance to a local 
government as reimbursement for         
qualifying interest4  7b7 ,definitions  
,in this section1 the following         
definitions apply3 7#a7 ,prime rate ,the
 term prime rate means the average      
predominant prime rate quoted by        
commercial banks to large businesses1 as
 determined by the ,board of ,governors 
of the ,federal ,reserve ,system4  7#b7 
,qualifying interest ,the term          
qualifying interest means1 with respect 
to a qualifying loan1 the lesser of--   
7,a7 the actual interest paid to a      
lender for such qualifying loan2 and    
7,b7 the interest that would have been  
paid to a lender if such qualifying loan
 had an interest rate equal to the prime
 rate most recently published on the    
,federal ,reserve ,statistical ,release 
on selected interest rates4  7#c7       
,qualifying loan ,the term qualifying   
loan means a loan-- 7,a7 obtained by a  
local government2 and  7,b7 of which not
 less than #ij percent of the proceeds  

are used to fund activities for which   
such local government receives          
assistance under this ,act after the    
date on which such loan is disbursed4  4