WASHINGTON, DC – Today, the House of Representatives passed H.R. 2672, the FEMA Loan Interest Payment Relief Act, introduced by Congressman Neal Dunn, M.D. (FL-02). This landmark legislation provides critical financial assistance to local governments and electric cooperatives by reimbursing interest payments on loans used for disaster recovery activities under the Robert T. Stafford Disaster Relief and Emergency Assistance Act.

“Communities impacted by disasters are often left with staggering financial burdens while waiting for federal reimbursements,” said Congressman Dunn. “This bill ensures that local governments and electric cooperatives are reimbursed for the interest on loans they had to take out to recover quickly. By lifting this financial strain, we are empowering communities to focus on what truly matters—rebuilding and recovery.”

“This legislation is one of the most significant accomplishments of this Congress, and I am grateful to my colleagues for their support,” added Dunn. “I now urge the Senate to pass this critical bill swiftly.”

The FEMA Loan Interest Payment Relief Act amends the Stafford Act to allow for reimbursement of qualifying interest on loans used to fund disaster recovery efforts. The bill applies retroactively to loans taken within seven years prior to enactment, addressing ongoing challenges for communities still recovering from past disasters.

The House’s passage of H.R. 2672 marks a major milestone in Congressman Dunn’s legislative efforts this term. Introduced with strong bipartisan support, the bill highlights the importance of providing timely and effective disaster recovery resources to impacted communities.

For more information on the bill, visit here.