Skip to main content
Find a Lawyer

42 U.S.C. § 5162 - U.S. Code - Unannotated Title 42. The Public Health and Welfare § 5162. Advance of non-Federal share

Current as of January 01, 2024 | Updated by Findlaw Staff

(a)In general

The President may lend or advance to an eligible applicant or a State the portion of assistance for which the State is responsible under the cost-sharing provisions of this chapter in any case in which--

(1) the State is unable to assume its financial responsibility under such cost-sharing provisions--

(A) with respect to concurrent, multiple major disasters in a jurisdiction, or

(B) after incurring extraordinary costs as a result of a particular disaster; and

(2) 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.

(b)Terms of loans and advances

(1)In general

Any loan or advance under this section shall be repaid to the United States.

(2)Interest

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.

(c)Regulations

The President shall issue regulations describing the terms and conditions under which any loan or advance authorized by this section may be made.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - 42 U.S.C. § 5162 - U.S. Code - Unannotated Title 42. The Public Health and Welfare § 5162. Advance of non-Federal share - last updated January 01, 2024 | https://codes.findlaw.com/us/title-42-the-public-health-and-welfare/42-usc-sect-5162/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard