New Hampshire Revised Statutes 21-P:37-c – Exceptional Disaster Relief Loans
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I. In this section, an “exceptional disaster relief loan” means a temporary loan from the state treasury to assist communities experiencing exceptional costs due to natural disasters.
II. (a) When the President of the United States declares an area a federal disaster area, or the governor declares a state of emergency as defined in N.H. Rev. Stat. § 21-P:35, VIII, and a municipality has applied for federal emergency assistance from the Federal Emergency Management Administration (FEMA), the governor, with the approval of the executive council may approve a non-interest loan in the amount up to the anticipated assistance from FEMA, as agreed upon by the division of homeland security and emergency management and the municipality, from funds not otherwise appropriated.
(b) In order to be eligible for an exceptional disaster relief loan, the per incident cost of a municipality’s critical disaster relief project or projects shall equal or exceed 25 percent of the amount raised by local property taxes in the municipality’s current annual budget.
(c) The municipality shall not knowingly request an exceptional disaster relief loan for costs that are not eligible for reimbursement under the FEMA public assistance program.
(d) Recipients of an exceptional disaster relief loan shall be responsible to repay the entire loan amount to the state. If the amount of FEMA assistance that a municipality receives is less than the exceptional disaster relief loan, the state treasurer, with the advice and consent of the governor and council, shall negotiate repayment terms of the difference.
(e) The municipality shall consider applying for available hazard mitigation grant funding administered by the division of homeland security and emergency management that would reduce the impact of future disasters on facilities that were repaired with exceptional disaster relief loan funds. Municipalities must demonstrate progress on the implementation of their hazard mitigation plan in order to be eligible for future assistance loans under this section for disasters affecting facilities where an exceptional disaster relief loan was previously granted.
III. A municipality shall not receive more than one exceptional disaster relief loan per declared federal disaster.
IV. A municipality shall not be obligated for more than 2 exceptional disaster relief loans.
V. A municipality receiving an exceptional disaster relief loan shall remit the anticipated assistance from FEMA to the state treasurer within 15 days of receipt.
VI. If the state treasury provides advance funding to a municipality that has applied for and is waiting for FEMA disaster relief funding, the interest rate to be assessed on such advance funding shall be no greater than the prevailing rate at which the state treasury is able to invest its commingled cash.
VII. If the amount of FEMA assistance a municipality receives is less than the exceptional disaster relief loan, the state treasurer, with the advice and consent of governor and council, shall negotiate terms of repayment of the difference. If the municipality and the state treasurer are unable to reach an agreement, the department of revenue administration shall include the amount in the amount apportioned for setting property tax rates.
VIII. The director of homeland security and emergency management shall administer the exceptional disaster relief loan program.
II. (a) When the President of the United States declares an area a federal disaster area, or the governor declares a state of emergency as defined in N.H. Rev. Stat. § 21-P:35, VIII, and a municipality has applied for federal emergency assistance from the Federal Emergency Management Administration (FEMA), the governor, with the approval of the executive council may approve a non-interest loan in the amount up to the anticipated assistance from FEMA, as agreed upon by the division of homeland security and emergency management and the municipality, from funds not otherwise appropriated.
Terms Used In New Hampshire Revised Statutes 21-P:37-c
- Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
- governor and council: shall mean the governor with the advice and consent of the council. See New Hampshire Revised Statutes 21:31-a
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
- United States: shall include said district and territories. See New Hampshire Revised Statutes 21:4
(b) In order to be eligible for an exceptional disaster relief loan, the per incident cost of a municipality’s critical disaster relief project or projects shall equal or exceed 25 percent of the amount raised by local property taxes in the municipality’s current annual budget.
(c) The municipality shall not knowingly request an exceptional disaster relief loan for costs that are not eligible for reimbursement under the FEMA public assistance program.
(d) Recipients of an exceptional disaster relief loan shall be responsible to repay the entire loan amount to the state. If the amount of FEMA assistance that a municipality receives is less than the exceptional disaster relief loan, the state treasurer, with the advice and consent of the governor and council, shall negotiate repayment terms of the difference.
(e) The municipality shall consider applying for available hazard mitigation grant funding administered by the division of homeland security and emergency management that would reduce the impact of future disasters on facilities that were repaired with exceptional disaster relief loan funds. Municipalities must demonstrate progress on the implementation of their hazard mitigation plan in order to be eligible for future assistance loans under this section for disasters affecting facilities where an exceptional disaster relief loan was previously granted.
III. A municipality shall not receive more than one exceptional disaster relief loan per declared federal disaster.
IV. A municipality shall not be obligated for more than 2 exceptional disaster relief loans.
V. A municipality receiving an exceptional disaster relief loan shall remit the anticipated assistance from FEMA to the state treasurer within 15 days of receipt.
VI. If the state treasury provides advance funding to a municipality that has applied for and is waiting for FEMA disaster relief funding, the interest rate to be assessed on such advance funding shall be no greater than the prevailing rate at which the state treasury is able to invest its commingled cash.
VII. If the amount of FEMA assistance a municipality receives is less than the exceptional disaster relief loan, the state treasurer, with the advice and consent of governor and council, shall negotiate terms of repayment of the difference. If the municipality and the state treasurer are unable to reach an agreement, the department of revenue administration shall include the amount in the amount apportioned for setting property tax rates.
VIII. The director of homeland security and emergency management shall administer the exceptional disaster relief loan program.