1994 US Code
Title 42 - THE PUBLIC HEALTH AND WELFARE
CHAPTER 68 - DISASTER RELIEF
SUBCHAPTER III - MAJOR DISASTER AND EMERGENCY ASSISTANCE ADMINISTRATION
Sec. 5162 - Advance of non-Federal share
View Metadata| Publication Title | United States Code, 1994 Edition, Title 42 - THE PUBLIC HEALTH AND WELFARE |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 42 - THE PUBLIC HEALTH AND WELFARE CHAPTER 68 - DISASTER RELIEF SUBCHAPTER III - MAJOR DISASTER AND EMERGENCY ASSISTANCE ADMINISTRATION Sec. 5162 - Advance of non-Federal share |
| Contains | section 5162 |
| Date | 1994 |
| Laws in Effect as of Date | January 4, 1995 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 93-288, title III, §319, as added Pub. L. 100-707, title I, §105(m)(1), Nov. 23, 1988, 102 Stat. 4695. |
| Statutes at Large Reference | 102 Stat. 4695 |
| Public Law References | Public Law 93-288, Public Law 100-707 |
§5162. Advance of non-Federal share (a) In general
The President may lend or advance to an eligible applicant or a State the portion of assistance for which the State is responsible under the cost-sharing provisions of this chapter in any case in which—
(1) the State is unable to assume its financial responsibility under such cost-sharing provisions—
(A) with respect to concurrent, multiple major disasters in a jurisdiction, or
(B) after incurring extraordinary costs as a result of a particular disaster; and
(2) the damages caused by such disasters or disaster are so overwhelming and severe that it is not possible for the applicant or the State to assume immediately their financial responsibility under this chapter.
(b) Terms of loans and advances (1) In generalAny loan or advance under this section shall be repaid to the United States.
(2) InterestLoans and advances under this section shall bear interest at a rate determined by the Secretary of the Treasury, taking into consideration the current market yields on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the reimbursement period of the loan or advance.
(c) RegulationsThe President shall issue regulations describing the terms and conditions under which any loan or advance authorized by this section may be made.
(Pub. L. 93–288, title III, §319, as added Pub. L. 100–707, title I, §105(m)(1), Nov. 23, 1988, 102 Stat. 4695.)
Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.
