Sec. 4. General provisions
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Title IV of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5170 et seq. ) is amended by adding at the end the following: In this section: The term qualifying interest means, with respect to a qualifying loan, the lesser of— the actual interest paid to a lender for such qualifying loan; and the interest that would have been paid to a lender if such qualifying loan had an interest rate equal to the prime rate most recently published on the Federal Reserve Statistical Release on selected interest rates.
The term qualifying loan means a loan— obtained by a local government or electric cooperative; and of which not less than 90 percent of the proceeds are used to fund activities for which such local government or electric cooperative receives assistance under this Act after the date on which such loan is disbursed. The President, acting through the Administrator of the Federal Emergency Management Agency, shall provide financial assistance to a local government or electric cooperative as reimbursement for qualifying interest. .
Any qualifying interest (as such term is defined in section 431 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act, as added by this Act) incurred by a local government or electric cooperative in the 5 years preceding the date of enactment of this Act shall be treated as eligible for financial assistance for purposes of such section. The Secretary of Health and Human Services shall— not later than 30 days after the date of enactment of this Act, initiate a rulemaking process to reassess the standard of identity for pasteurized orange juice , established in section 146.140 of title 21, Code of Federal Regulations; and not later than 120 days after the date of enactment of this Act, issue an interim final rule to amend such standard of identity for pasteurized orange juice , if, after initiating the rulemaking process to reassess such standard of identity, the Secretary determines such standard of identity should be amended.
Nothing in this subsection shall be construed to limit the authority of the Secretary of Health and Human Services to promulgate regulations to further amend the standard of identity for pasteurized orange juice after the issuance of an interim final rule under paragraph (1)(B). The Secretary of the Army is authorized to conduct a feasibility study for each of the studies recommended in the report of the Corps of Engineers entitled South Atlantic Coastal Study
(SACS)Main Report , dated August 2022. Section 408(c)(1)(B) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5174(c)(1)(B) ) is amended by adding at the end the following: The Governor of a State may submit to the President a request to waive any restriction relating to the deployment of travel trailers or manufactured housing units, including the prohibition on deploying travel trailers or manufactured housing units into flood hazard areas under section 206.117(b)(1)(ii)(C) of title 44, Code of Federal Regulations. . In this subsection: The term Administrator means the Administrator of the Federal Emergency Management Agency. The term appropriate committees of Congress means— the Committee on Homeland Security and Governmental Affairs of the Senate; and the Committee on Transportation and Infrastructure of the House of Representatives. The term pilot program means the pilot program established and carried out by the Administrator under this subsection. As part of the program carried out under section 1366 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4104c ), the Administrator shall, not later than 1 year after the date of enactment of this Act, establish a pilot program under which the Administrator shall make grants to the State of Florida, which shall, subject to paragraph (3), use those grant funds to elevate structures located in areas in that State having special flood hazards or other areas of flood risk. With respect to any project carried out with a grant made by the Administrator under the pilot program, the State of Florida shall match 50 percent of the grant amount. The pilot program shall terminate on the date that is 5 years after the date on which the Administrator establishes the pilot program under paragraph (2). Not later than 90 days after the date on which the pilot program terminates under paragraph (4), the Administrator shall submit to the appropriate committees of Congress a report that contains— findings from carrying out the pilot program; and recommendations regarding whether the pilot program, or a similar program, should be made permanent. The Secretary of Agriculture shall issue a rule— to revise section 624.9 of title 7, Code of Federal Regulations, to provide that funds must be obligated by the State Conservationist and construction completed within 365 calendar days after the date funds are committed to the State Conservationist, except for exigency situations in which case the construction must be completed within 30 days after the date the funds are committed; and to revise part 624 of title 7, Code of Federal Regulations, to provide that an organization described in section 501(c)(3) of the Internal Revenue Code of 1986 and exempt from taxation under section 501(a) of that Code may be a project sponsor under that part, if the organization has entered into a binding agreement for a project sponsor (as defined in section 624.4 of that title (as in effect on the day before the date of enactment of this Act)) to assume responsibility for operations and maintenance costs and requirements.
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