Sec. 311.
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/bill/116/hr/133/eah/section-311A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For major disasters declared in 2018 pursuant to the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5170 ), a territory or possession of the United States shall be deemed to be a local government for purposes of section 417 of such Act ( 42 U.S.C. 5184 ) and section 206.361(a) of title 44, Code of Federal Regulations. Notwithstanding section 206.361(a) of title 44, Code of Federal Regulations, the President may provide a loan until the last day of the fiscal year that is 3 fiscal years after the fiscal year in which the natural disaster described in such subsection occurs.
Notwithstanding section 417(b) of such Act and section 206.361(b) of title 44, Code of Federal Regulations, the amount of any loan issued to a territory or possession may— exceed $5,000,000; and may be based on the projected loss of tax and other revenues and on projected cash outlays not previously budgeted for a period not to exceed 1 year beginning on the date that the major disaster occurred.
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