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| THE GENERAL ASSEMBLY OF PENNSYLVANIA |
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| HOUSE BILL |
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| INTRODUCED BY PASHINSKI, MUNDY, CARROLL, MULLERY, BISHOP, BOBACK, BRENNAN, BRIGGS, V. BROWN, CALTAGIRONE, D. COSTA, CURRY, DAVIS, DONATUCCI, GEORGE, GOODMAN, JOSEPHS, KAVULICH, KORTZ, KOTIK, KULA, MANN, MURPHY, MYERS, M. O'BRIEN, READSHAW, SANTONI, K. SMITH, STABACK, WAGNER, YOUNGBLOOD AND DALEY, OCTOBER 31, 2011 |
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| REFERRED TO COMMITTEE ON APPROPRIATIONS, OCTOBER 31, 2011 |
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| AN ACT |
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1 | Establishing the Flood Damage Minimization Fund; providing for |
2 | loans to individuals and businesses for flood damage |
3 | minimization efforts; and making an appropriation. |
4 | The General Assembly of the Commonwealth of Pennsylvania |
5 | hereby enacts as follows: |
6 | Section 1. Establishment of fund. |
7 | The Flood Damage Minimization Fund is hereby established in |
8 | the General Fund to make loans to individuals and businesses |
9 | that have suffered flood damage. |
10 | Section 2. Loans. |
11 | (a) Purpose.--The Pennsylvania Emergency Management Agency |
12 | shall offer loans to individuals and businesses. The loan may be |
13 | used only for flood damage minimization efforts, including, but |
14 | not limited to, relocating furnaces, hot water heaters, washers, |
15 | dryers and electric panels to a level in a damaged building that |
16 | is unlikely to be flooded. |
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1 | (b) Loan amount and interest.--A loan under subsection (a) |
2 | shall be subject to an annual interest rate of 1.5% and shall be |
3 | limited to $40,000 per applicant. The Pennsylvania Emergency |
4 | Management Agency may make available an additional loan of up to |
5 | $80,000 per applicant to repair or replace a primary residence |
6 | or business to its predisaster condition. |
7 | Section 3. Eligibility for individuals. |
8 | In order to be eligible for a loan under section 2, an |
9 | individual shall meet the criteria established by the |
10 | Pennsylvania Emergency Management Agency and shall show proof |
11 | that the applicant has been denied assistance from the Federal |
12 | Government and from the Pennsylvania Emergency Management |
13 | Agency's other assistance programs. |
14 | Section 4. Eligibility for businesses. |
15 | In order to be eligible for a loan under this act, a |
16 | corporation, partnership, association or other business entity |
17 | shall meet the criteria established by the Pennsylvania |
18 | Emergency Management Agency. |
19 | Section 5. Administration. |
20 | The Pennsylvania Emergency Management Agency shall administer |
21 | the Flood Damage Minimization Fund and shall prepare application |
22 | forms and review and accept applications for loans. |
23 | Section 6. Appropriation. |
24 | The budget surplus revenue is hereby appropriated from the |
25 | General Fund to the Flood Damage Minimization Fund for the |
26 | purposes of this act. The money appropriated under this section |
27 | shall remain available for the purposes of the fund. |
28 | Section 7. Effective date. |
29 | This act shall take effect immediately. |
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