Federal · Title 42 — Public Health and Welfare
42 U.S.C. § 5162: Advance of non-Federal share
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with respect to concurrent, multiple major disasters in a jurisdiction, or after incurring extraordinary costs as a result of a particular disaster; and 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. Any loan or advance under this section shall be repaid to the United States. 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. The President shall issue regulations describing the terms and conditions under which any loan or advance authorized by this section may be made.
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