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Community disaster loans - 35 Pa. Cons. Stat. § 7304

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     § 7304.  Community disaster loans.
        Whenever, at the request of the Governor, the President has
     declared a major disaster to exist in this Commonwealth, the
     Governor is authorized:
            (1)  Upon determining that a political subdivision of
        this Commonwealth will suffer a substantial loss of tax and
        other revenues from a major disaster and has demonstrated a
        need for financial assistance to perform its governmental
        functions, to apply to the Federal Government, on behalf of
        the political subdivision, for a loan and to receive and
        disburse the proceeds of any approved loan to any applicant
        political subdivision.
            (2)  To determine the amount needed by any applicant
        political subdivision to restore or resume its governmental
        functions and to certify the amount to the Federal
        Government. No application amount shall exceed 25% of the
        annual operating budget of the applicant for the fiscal year
        in which the major disaster occurs.
            (3)  After review, recommend to the Federal Government
        the cancellation of all or any part of repayment when, in the
        first three full fiscal-year periods following the major
        disaster, the revenues of the political subdivision are
        insufficient to meet its operating expenses including
        additional disaster-related expenses of a municipal operation
        character.

        Cross References.  Section 7304 is referred to in section
     7306 of this title.

Last modified: November 27, 2007