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A BILL TO BE ENTITLED
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AN ACT
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relating to eligibility for a loan under the disaster recovery loan |
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program. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 418.062, Government Code, is amended to |
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read as follows: |
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Sec. 418.062. ELIGIBILITY FOR LOAN. (a) A political |
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subdivision may apply to the division for a loan under this |
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subchapter if: |
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(1) the political subdivision: |
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(A) is located wholly or partly in an area |
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declared to be a disaster area by the governor or the president of |
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the United States; and |
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(B) before applying to the division for a loan |
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under this subchapter, submits[: |
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[(i) has submitted] to the division[, |
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within 15 days of the date of its adoption by the governing body of |
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the political subdivision,] the political subdivision's operating |
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budget for the most recent fiscal year; [and |
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[(ii) has submitted an application for a |
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loan from the Federal Emergency Management Agency's community |
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disaster loan program;] |
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(2) an assessment of damages due to the disaster for |
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which the declaration was made has been conducted in the political |
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subdivision; and |
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(3) the division[, in consultation with the Federal |
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Emergency Management Agency,] determines that the political |
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subdivision's estimated cost to appropriately respond to [rebuild |
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the political subdivision's infrastructure damaged in] the |
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disaster is greater than 50 percent of the political subdivision's |
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total revenue for the current year as shown in the most recent |
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operating budget of the political subdivision submitted to the |
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division under this section. |
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(b) The division may consult with the Federal Emergency |
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Management Agency in making the determination required under |
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Subsection (a)(3). |
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SECTION 2. The change in law made by this Act applies only |
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to a loan the application for which is filed on or after the |
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effective date of this Act. A loan the application for which is |
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filed before that date is governed by the law in effect on the date |
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on which the application was filed, and the former law is continued |
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in effect for that purpose. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2021. |