,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #bhcf  ,,in ,,the ,,house ,,of  
,,representatives  ,april #aj1 #bjbe,mr4
 ,dunn of ,florida 7for himself1 ,mr4   
,soto1 ,ms4 ,lee of ,florida1 ,mr4      
,carter of ,louisiana1 ,mr4 ,higgins of 
,louisiana1 ,mr4 ,moore of ,alabama1    
,mr4 ,webster of ,florida1 ,mr4         
,gimenez1 ,mr4 ,bilirakis1 ,mr4         
,moskowitz1 ,mr4 ,donalds1 and ,mr4     
,mills7 introduced the following bill2  
which was referred to the ,committee on 
,transportation and ,infrastructure  ,a 
,,bill  ,to amend the ,robert ,t4       
,stafford ,disaster ,relief and         
,emergency ,assistance ,act to provide  
for the authority to reimburse local    
governments or electric cooperatives for
 interest expenses1 and for other       
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,,fema ,loan        
,interest ,payment ,relief ,act4  #b4   
,reimbursement of interest payments     
related to public assistance  7a7 ,in   
general ,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 ,president1 acting through 
the ,administrator of the ,federal      
,emergency ,management ,agency1 shall   
provide financial assistance to a local 
government or electric cooperative as   
reimbursement for qualifying interest4  
7b7 ,definitions  7#a7 ,in general ,in  
this section1 the following definitions 
apply3 7,a7 ,qualifying interest ,the   
term qualifying interest means1 with    
respect to a qualifying loan1 the lesser
 of-- 7i7 the actual interest paid to a 
lender for such qualifying loan2 and    
7ii7 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,b7       

,qualifying loan ,the term qualifying   
loan means a loan-- 7i7 obtained by a   
local government or electric            
cooperative2 and  7ii7 of which not less
 than #ij percent of the proceeds are   
used to fund activities for which such  
local government or electric cooperative
 receives assistance under this ,act    
after the date on which such loan is    
disbursed4  7#b7 ,local government ,for 
purposes of this section1 the term local
 government includes the ,district of   
,columbia4  4  7b7 ,rules of            
applicability  7#a7 ,eligibility ,any   
qualifying interest 7as such term is    
defined in section #dca of the ,robert  
,t4 ,stafford ,disaster ,relief and     
,emergency ,assistance ,act1 as added by
 this ,act7 incurred by a local         
government or electric cooperative in   
the #i years preceding the date of      
enactment of this ,act shall be treated 
as eligible for financial assistance for
 purposes of such section4  7#b7        
,appropriations ,only amounts           

appropriated on or after the date of    
enactment of this ,act may be made      
available to carry out the amendment    
made by this section4  7c7 ,alternative 
procedures for outstanding qualifying   
interest reimbursement  7#a7 ,in general
 ,notwithstanding any other provision of
 law1 not later than #cj days after the 
date of enactment of this ,act1 the     
,president1 acting through the          
,administrator of the ,federal          
,emergency ,management ,agency1 shall   
establish and publish in the ,federal   
,register alternative procedures for    
,states to obtain reimbursement for     
qualifying loan interest 7as such term  
is defined in section #dca7;b7 of the   
,robert ,t4 ,stafford ,disaster ,relief 
and ,emergency ,assistance ,act1 as     
added by this ,act7 eligible under the  
,robert ,t4 ,stafford ,disaster ,relief 
and ,emergency ,assistance ,act 7#db    
,u4,s4,c4 #eaba et4 seq7 for all        
projects pending obligation as of the   
date of enactment of this ,act4  7#b7   

,application ,a ,state requesting       
reimbursement pursuant to paragraph 7#a7
 shall submit an application to the     
,president1 acting through the          
,administrator of the ,federal          
,emergency ,management ,agency1 for     
outstanding qualifying interest         
reimbursement not later than #fj days   
after the date of publication of the    
procedures in such subsection4  7#c7    
,reimbursement timing ,in carrying out  
paragraph 7#a71 the ,president1 acting  
through the ,administrator of the       
,federal ,emergency ,management ,agency1
 shall reimburse ,states requesting     
assistance pursuant to paragraph 7#a7   
not later than #a year after the date of
 enactment of this ,act4