HB 850 -- Disaster Damage Emergency Loan Revolving Fund Program

Sponsor:  Dixon

This bill establishes the Disaster Damage Emergency Loan
Revolving Fund Program to provide no-interest loans to
individuals who incur property damage as a result of natural or
man-made disasters that are not covered by insurance.  The Office
of Administration and the State Emergency Management Agency in
the Department of Public Safety will implement the program and
develop a procedure for identifying, approving, and obtaining
financing for eligible individuals.  Loans will be issued, in
order of preference, to pay for any deductibles for individuals
who have insurance coverage for property loss, support
individuals who do not receive any assistance from the Federal
Emergency Management Agency (FEMA), and provide resources to
individuals who have no insurance coverage for property damage
losses.  Any person receiving FEMA assistance will be ineligible
for state emergency loans.  The bill also creates the Disaster
Damage Emergency Revolving Loan Fund in the state treasury and
authorizes the Commissioner of the Office of Administration to
establish rules for the implementation of the fund.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:20 am