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Senate Finance Recommends Hurricane Relief Measures: Property tax assistance and $110M interest fund, $100M rapid-response fund
Summary
The Senate Finance committee recommended bills that provide tax-assist payments to property owners in nine counties wounded by Hurricane Helene and created funds to cover local loan interest and a $100M rapid response and recovery fund for future disasters.
The Senate Finance, Ways and Means Committee recommended two disaster‑recovery measures to the calendar designed to aid counties hit by Hurricane Helene and to give the state rapid‑response tools for future natural disasters.
Senator Jeremy Crow presented Senate Bill 6007, which he said provides tax-payment assistance for owners of taxable residential and business property (excluding state-assessed properties) damaged by the hurricane in Carter, Cox, Greene, Hamblen, Hancock, Hawkins, Johnson, Unicoi and Washington counties. Crow explained the program pays an assistance amount equal to the property’s 2024 tax levy plus 30 percent; the bill limits one payment per property if multiple owners file.
Crow said the bill also clarifies mutual‑aid rules allowing county CEOs, utility‑district CEOs and specified emergency‑management officials to authorize cross‑jurisdictional mutual aid for equipment and supplies. The committee adopted a finance amendment; committee staff explained the package raised a revised fiscal note of approximately $2,319,700 for the current fiscal year and a multi‑year total in the fiscal note (committee discussion placed the first‑year cost at about $2.32 million).
The committee adopted the amendment and took a roll‑call vote; the clerk recorded 11 ayes and zero nos and recommended SB 6007, as amended, for passage to the calendar.
Separately, Leader Johnson presented Senate Bill 6003, which the committee also recommended. SB 6003 creates (1) an interest payment fund to subsidize local governments’ borrowing costs for recovery loans (up to 5 percent annually for up to three years) and (2) a Governor’s Response and Recovery Fund — a $100,000,000 rapid-response appropriation for recovery and response needs. Johnson said $110,000,000 was proposed in the appropriations act for the interest fund. He said unused funds in these accounts would remain available for future disasters rather than reverting to the general fund.
Both measures passed committee by recorded vote and were recommended for passage to the calendar; staff and members noted some costs may later be reimbursed by FEMA or other federal sources.
