[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 1856 Introduced in Senate (IS)]








109th CONGRESS
  1st Session
                                S. 1856

                To provide for community disaster loans.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

              October 7 (legislative day, October 6), 2005

 Ms. Landrieu introduced the following bill; which was read twice and 
referred to the Committee on Homeland Security and Governmental Affairs

_______________________________________________________________________

                                 A BILL


 
                To provide for community disaster loans.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Community Disaster Loan Act of 
2005''.

SEC. 2. DISASTER LOANS.

    (a) Essential Services.--Of the amounts provided in Public Law 109-
62 for ``Disaster Relief'', up to $750,000,000 may be transferred to 
the Disaster Assistance Direct Loan Program for the cost of direct 
loans as authorized under section 417 of the Robert T. Stafford 
Disaster Relief and Emergency Assistance Act (42 U.S.C. 5184) to be 
used to assist local governments in providing essential services: 
Provided, That such transfer may be made to subsidize gross obligations 
for the principal amount of direct loans not to exceed $1,000,000,000 
under section 417 of the Stafford Act: Provided further, That 
notwithstanding section 417(b) of the Stafford Act, the amount of any 
such loan issued pursuant to this section may exceed $5,000,000: 
Provided further, That notwithstanding section 417(c)(1) of the 
Stafford Act, such loans may only be canceled with the approval of OMB: 
Provided further, That the cost of modifying such loans shall be as 
defined in section 502 of the Congressional Budget Act of 1974 (2 
U.S.C. 661a).
    (b) Administrative Expenses.--Of the amounts provided in Public Law 
109-62 for ``Disaster Relief'', up to $1,000,000 may be transferred to 
the Disaster Assistance Direct Loan Program for administrative expenses 
to carry out the direct loan program, as authorized by section 417 of 
the Stafford Act.
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