Summary: S.3055 — 107th Congress (2001-2002)All Information (Except Text)

There is one summary for S.3055. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (10/03/2002)

Community Disaster Loan Equity Act of 2002 - Amends the Robert T. Stafford Disaster Relief and Emergency Assistance Act to: (1) authorize the President to make community disaster loans to State governments; (2) eliminate the $5 million limit on the amount of any such loan; and (3) prohibit the President from requiring the payment of any interest or principal on such a loan made to a State or local government which suffers a substantial loss of tax and other revenues as a result of a major disaster caused by a terrorist attack. Provides that this Act shall apply to any major disaster occurring on or after October 30, 2000.