Summary: H.R.4012 — 109th Congress (2005-2006)All Information (Except Text)

There is one summary for H.R.4012. Bill summaries are authored by CRS.

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Introduced in House (10/07/2005)

Community Disaster Loan Equity Act of 2005 - Amends the Robert T. Stafford Disaster Relief and Emergency Assistance Act to authorize the President to make community disaster loans to state governments. Eliminates the $5 million limit on such a loan, and prohibits the President from requiring its repayment, if the state or local government receiving it may suffer a substantial loss of tax and other revenues as a result of a major disaster determined to be an incident of national significance.

Applies this Act to any major disaster occurring on or after August 24, 2005.