
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC5162]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
                       CHAPTER 68--DISASTER RELIEF
 
 SUBCHAPTER III--MAJOR DISASTER AND EMERGENCY ASSISTANCE ADMINISTRATION
 
Sec. 5162. Advance of non-Federal share


(a) In general

    The President may lend or advance to an eligible applicant or a 
State the portion of assistance for which the State is responsible under 
the cost-sharing provisions of this chapter in any case in which--
        (1) the State is unable to assume its financial responsibility 
    under such cost-sharing provisions--
            (A) with respect to concurrent, multiple major disasters in 
        a jurisdiction, or
            (B) after incurring extraordinary costs as a result of a 
        particular disaster; and

        (2) the damages caused by such disasters or disaster are so 
    overwhelming and severe that it is not possible for the applicant or 
    the State to assume immediately their financial responsibility under 
    this chapter.

(b) Terms of loans and advances

                           (1) In general

        Any loan or advance under this section shall be repaid to the 
    United States.

                            (2) Interest

        Loans and advances under this section shall bear interest at a 
    rate determined by the Secretary of the Treasury, taking into 
    consideration the current market yields on outstanding marketable 
    obligations of the United States with remaining periods to maturity 
    comparable to the reimbursement period of the loan or advance.

(c) Regulations

    The President shall issue regulations describing the terms and 
conditions under which any loan or advance authorized by this section 
may be made.

(Pub. L. 93-288, title III, Sec. 319, as added Pub. L. 100-707, title I, 
Sec. 105(m)(1), Nov. 23, 1988, 102 Stat. 4695.)
