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House expands MEMA disaster trust fund limits and adds 0% loan program for approved projects
Summary
Lawmakers approved a conference report on House Bill 16 46 to raise MEMA drawdown limits for single disasters and to add a 0% interest loan program to aid northern counties recovering from the winter storm, with application details to follow.
A conference report attached to House Bill 16 46 was adopted on the House floor, increasing drawdown limits from $1,000,000 to $2,500,000 for any single disaster and raising the annual cap; the bill also inserts language to create a 0% interest loan program for approved projects that the conferees will administer.
The explainer said: "We increased their limits that they draw down, from 1,000,000 to 2,500,000 on any one disaster, and then up to 5,000,000, from 2,000,000 in any one year." He added that the loan program will be 0% interest for eligible, approved projects and that application information for northern counties would be released in the coming days.
Members asked procedural questions about the application process; the explainer said representatives in northern counties and emergency management directors are being engaged to help get projects approved. The House recorded "by vote a 121 yay, 0 nays," and the conference report was adopted.
