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2020 New Hampshire Revised Statutes
Title I - The State and Its Government
Title 21-P - Department of Safety
Section 21-P:37-c - Exceptional Disaster Relief Loans.
Universal Citation: NH Rev Stat § 21-P:37-c (2020)
21-P:37-c Exceptional Disaster Relief Loans. –
I. In this section, an "exceptional disaster relief loan" means a temporary loan from the state treasury to assist communities experiencing exceptional costs due to natural disasters.
II. (a) When the President of the United States declares an area a federal disaster area and a municipality has applied for federal emergency assistance from the Federal Emergency Management Administration (FEMA), the governor, with the approval of the executive council, may approve a loan in the amount up to the anticipated assistance from FEMA from funds not otherwise appropriated.
(b) In order to be eligible for an exceptional disaster relief loan, the per-occurance cost of a municipality's critical disaster relief project or projects shall equal or exceed 25 percent of the amount raised by local property taxes in the municipality's last annual budget.
III. A municipality shall not receive more than one exceptional disaster relief loan per declared federal disaster.
IV. A municipality shall not be obligated for more than 2 exceptional disaster relief loans.
V. A municipality receiving an exceptional disaster relief loan shall remit the anticipated assistance from FEMA to the state treasurer within 15 days of receipt.
VI. If the state treasury provides advance funding to a municipality that has applied for and is waiting for FEMA disaster relief funding, the interest rate to be assessed on such advance funding shall be no greater than the prevailing rate at which the state treasury is able to invest its commingled cash.
VII. If the amount of FEMA assistance a municipality receives is less than the exceptional disaster relief loan, the state treasurer, with the advice and consent of governor and council, shall negotiate terms of repayment of the difference. If the municipality and the state treasurer are unable to reach an agreement, the department of revenue administration shall include the amount in the amount apportioned for setting property tax rates.
VIII. The director of homeland security and emergency management shall administer the exceptional disaster relief loan program.
I. In this section, an "exceptional disaster relief loan" means a temporary loan from the state treasury to assist communities experiencing exceptional costs due to natural disasters.
II. (a) When the President of the United States declares an area a federal disaster area and a municipality has applied for federal emergency assistance from the Federal Emergency Management Administration (FEMA), the governor, with the approval of the executive council, may approve a loan in the amount up to the anticipated assistance from FEMA from funds not otherwise appropriated.
(b) In order to be eligible for an exceptional disaster relief loan, the per-occurance cost of a municipality's critical disaster relief project or projects shall equal or exceed 25 percent of the amount raised by local property taxes in the municipality's last annual budget.
III. A municipality shall not receive more than one exceptional disaster relief loan per declared federal disaster.
IV. A municipality shall not be obligated for more than 2 exceptional disaster relief loans.
V. A municipality receiving an exceptional disaster relief loan shall remit the anticipated assistance from FEMA to the state treasurer within 15 days of receipt.
VI. If the state treasury provides advance funding to a municipality that has applied for and is waiting for FEMA disaster relief funding, the interest rate to be assessed on such advance funding shall be no greater than the prevailing rate at which the state treasury is able to invest its commingled cash.
VII. If the amount of FEMA assistance a municipality receives is less than the exceptional disaster relief loan, the state treasurer, with the advice and consent of governor and council, shall negotiate terms of repayment of the difference. If the municipality and the state treasurer are unable to reach an agreement, the department of revenue administration shall include the amount in the amount apportioned for setting property tax rates.
VIII. The director of homeland security and emergency management shall administer the exceptional disaster relief loan program.
Source. 2018, 53:1, eff. July 14, 2018.
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