Subscribe to receive our Floor Reports covering all the action on the Texas House and Senate floor!
Relating to the creation of the disaster response loan fund and the
permissible uses of that fund; making an appropriation; authorizing
HB 1917 would make an appropriation of $1 billion out of the Economic Stabilization Fund for
transfer to the Disaster Response Loan Fund created by the bill if the bill is approved by a vote of
two-thirds of the members present in each house of the Legislature.
HB 1917 would establish a Disaster Response Loan Fund (DRLF) in order to make short term loans to political subdivisions that were affected by a disaster. In order for a political subdivision to be eligible, the area would have to have been declared a disaster area by the Governor and the Federal Emergency Management Agency (FEMA) and would have had to be determined eligible to receive funds. If the bill were to be approved, $1 billion would be appropriated from the Economic Stabilization Fund (ESF).
Although this bill includes a large fiscal note, we believe that disaster response and recovery within the legitimate role of the state to address. At this time we remain neutral on HB 1917.