10-7-05, Bill Passed House and Senate by Unanimous Consent
Became Public Law 109-88
One Hundred Ninth Congress
of the
United States of America
AT THE FIRST SESSION
Begun and held at the City of Washington on Tuesday,
the fourth day of January, two thousand and five
An Act
To provide for community disaster loans.
Be it enacted by the Senate and House of Representatives of the United
States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the `Community Disaster Loan Act of 2005'.
SEC. 2. DISASTER LOANS.
(a) Essential Services- Of the amounts provided in Public Law 109-62 for `Disaster
Relief', up to $750,000,000 may be transferred to the Disaster Assistance
Direct Loan Program for the cost of direct loans as authorized under section
417 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act
(42 U.S.C. 5184) to be used to assist local governments in providing essential
services: Provided, That such transfer may be made to subsidize gross
obligations for the principal amount of direct loans not to exceed $1,000,000,000
under section 417 of the Stafford Act: Provided further, That notwithstanding
section 417(b) of the Stafford Act, the amount of any such loan issued pursuant
to this section may exceed $5,000,000: Provided further, That notwithstanding
section 417(c)(1) of the Stafford Act, such loans may not be canceled: Provided
further, That the cost of modifying such loans shall be as defined in
section 502 of the Congressional Budget Act of 1974 (2 U.S.C. 661a).
(b) Administrative Expenses- Of the amounts provided in Public Law 109-62
for `Disaster Relief', up to $1,000,000 may be transferred to the Disaster
Assistance Direct Loan Program for administrative expenses to carry out the
direct loan program, as authorized by section 417 of the Stafford Act.
Speaker of the House of Representatives.
Vice President of the United States and
President of the Senate.
END
