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House approves disaster‑recovery loan account bill to help local governments after declared disasters
Summary
The House passed HB12 to create a disaster‑recovery loan account for local governments, funded through the state's disaster recovery fund; eligibility hinges on prior participation rates and loans carry tiered repayment terms tied to local participation.
Representative Oda moved to uncircle and amend House Bill 12, which would establish a loan account funded from the state's disaster-recovery fund to provide short-term loans to local governments after a declared disaster.
"What the bill does is to set up a fund that will be funded through the disaster recovery fund, to set up a loan Account for local government cities county special districts if there's a local disaster," Representative Oda said, describing the program's purpose to provide repair…
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