42-U.S.C.-5162
§5162 – Advance of Non-Federal Share
Pathway
Title 42 > Chapter 68 > Subchapter III > Section 5162
Details
- Reference: Section 5162
- Legend: §5162 – Advance of Non-Federal Share
- USCode Year: 2011
Provision Content
(a) In general
The President may lend or advance to an eligible applicant or a State the portion of assistance for which the State is responsible under the cost-sharing provisions of this chapter in any case in which—
(1) the State is unable to assume its financial responsibility under such cost-sharing provisions—
(A) with respect to concurrent, multiple major disasters in a jurisdiction, or
(B) after incurring extraordinary costs as a result of a particular disaster; and
(2) the damages caused by such disasters or disaster are so overwhelming and severe that it is not possible for the applicant or the State to assume immediately their financial responsibility under this chapter.
(b) Terms of loans and advances
(1) In general
Any loan or advance under this section shall be repaid to the United States.
(2) Interest
Loans and advances under this section shall bear interest at a rate determined by the Secretary of the Treasury, taking into consideration the current market yields on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the reimbursement period of the loan or advance.
(c) Regulations
The President shall issue regulations describing the terms and conditions under which any loan or advance authorized by this section may be made.
(Pub. L. 93–288, title III, §319, as added Pub. L. 100–707, title I, §105(m)(1), Nov. 23, 1988, 102 Stat. 4695.)
References in Text
This chapter, referred to in subsec. (a), was in the original “this Act”, meaning Pub. L. 93–288, May 22, 1974, 88 Stat. 143. For complete classification of this Act to the Code, see Short Title note set out under section 5121 of this title and Tables.
U.S. Encyclopedia of Law Coverage
Subchapter III – Major Disaster and Emergency Assistance Administration in the Legal Encyclopedia: Public Health
In this entry about Subchapter III – Major Disaster and Emergency Assistance Administration, find legal reference material, bibliographies and premiere content related to public health in the American Encyclopedia of Law, presenting a comprehensive view of the United States public health-specific issues, written by authorities in the field.
42-U.S.C.-5154A in the Legal Encyclopedia: Disaster Relief
In this entry about 42-U.S.C.-5154A, find legal reference material, bibliographies and premiere content related to disaster relief in the American Encyclopedia of Law, presenting a comprehensive view of the United States disaster relief-specific issues, written by authorities in the field.
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