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S. 3418, STORM Act (CBO Report for Congress)

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Congress 116th
Date Requested March 11, 2020
Requested By Senate Committee on Homeland Security and Governmental Affairs
Date Sent June 11, 2020
Description:
The bill would Authorize the appropriation of $300 million for the Federal Emergency Management Agency to make grants to capitalize new revolving funds administered by states. State agencies would use those funds to make low-interest loans to local governments to finance projects designed to mitigate damage from future disasters Estimated budgetary effects would primarily stem from Spending of the authorized and necessary amounts Revenue loss from issuing additional tax-exempt bonds    

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