Tallahassee Sun

The House of Representatives has passed the FEMA Loan Interest Payment Relief Act, known as H.R. 2672, which was introduced by Congressman Neal Dunn from Florida's 2nd District. The legislation aims to provide financial assistance to local governments and electric cooperatives by reimbursing interest payments on loans used for disaster recovery activities under the Robert T. Stafford Disaster Relief and Emergency Assistance Act.

"Communities impacted by disasters are often left with staggering financial burdens while waiting for federal reimbursements," said Congressman Dunn. "This bill ensures that local governments and electric cooperatives are reimbursed for the interest on loans they had to take out to recover quickly. By lifting this financial strain, we are empowering communities to focus on what truly matters—rebuilding and recovery."

Dunn expressed gratitude towards his colleagues for their support, describing the legislation as "one of the most significant accomplishments of this Congress." He urged the Senate to pass the bill swiftly.

The act amends the Stafford Act to allow reimbursement of qualifying interest on loans used for disaster recovery efforts. It applies retroactively to loans taken within seven years prior to enactment, addressing ongoing challenges for communities still recovering from past disasters.

The passage of H.R. 2672 is a significant milestone in Dunn’s legislative agenda this term. With strong bipartisan support, it underscores the importance of providing timely and effective disaster recovery resources.