Sec. 1013. Establishment and operation of the Puerto Rico and Virgin Islands emergency credit facility
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/bill/115/hr/4782/ih/section-1013·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There are hereby appropriated, out of any funds in the Treasury not otherwise appropriated, to the Fund such sums as may be necessary to carry out this subtitle, for the exclusive purpose of assisting the covered territories and the instrumentalities of covered territories to meet any cash-flow shortfalls that result from damage to the covered territories caused by Hurricane Irma or Maria. Disbursements made from the Fund are subject to the certified requisition under subsection
(d)and other conditions established by this Act. The Secretary shall make a grant, not later than 10 days after the date on which the Secretary receives a certified requisition, of funds from time to time during the emergency and recovery period, out of any money in the Treasury not otherwise appropriated, to meet any cash-flow shortfalls that result from damage to a covered territory or any instrumentality of a covered territory caused by Hurricane Irma or Maria if— the Governor of the covered territory determines that disbursements provided under subsection
(b)and any supplemental amounts that may be made available under subsection
(a)through future appropriations are inadequate to address any cash-flow shortfalls that result from the damage to the covered territory caused by Hurricane Irma or Maria; and the conditions described in subsection
(d)are satisfied. The Secretary shall make a grant under this section if— the Governor of a covered territory, with respect to Puerto Rico, or an authorized representative of an instrumentality of the covered territory, in consultation with appropriate authorities according to the law of the covered territory, delivers to the Secretary a certified requisition for a grant under this section; and the Governor and appropriate authorities as subject to the law of the covered territory certify that the grant is necessary— to support the liquidity needs of the covered territory or an instrumentality of the territory, as applicable; and to meet ongoing recovery needs from Hurricanes Maria and Irma. Certified requisitions shall be submitted on a quarterly basis. The total amount of grants made under this subtitle shall not exceed— $57,206,000,000 with respect to Puerto Rico; and $5,000,000,000 with respect to the Virgin Islands.