44 CFR 206.367 - Loan repayment.

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There are 3 Updates appearing in the Federal Register for 44 CFR 206. View below or at eCFR (GPOAccess)
§ 206.367 Loan repayment.
(a) Prepayments. The local government may make prepayments against loan at any time without any prepayment penalty.
(b) Repayment. To the extent not otherwise cancelled, Community Disaster Loan funds become due and payable in accordance with the terms and conditions of the Promissory Note. The note shall include the following provisions:
(1) The term of a loan made under this program is 5 years, unless extended by the Assistant Administrator for the Disaster Assistance Directorate. Interest will accrue on outstanding cash from the actual date of its disbursement by the Treasury.
(2) The interest amount due will be computed separately for each Treasury disbursement as follows: I=P×R×T, where I=the amount of simple interest, P=the principal amount disbursed; R=the interest rate of the loan; and, T=the outstanding term in years from the date of disbursement to date of repayment, with periods less than 1 year computed on the basis of 365 days/year. If any portion of the loan is cancelled, the interest amount due will be computed on the remaining principal with the shortest outstanding term.
(3) Each payment made against the loan will be applied first to the interest computed to the date of the payment, and then to the principal. Prepayments of scheduled installments, or any portion thereof, may be made at any time and shall be applied to the installments last to become due under the loan and shall not affect the obligation of the borrower to pay the remaining installments.
(4) The Assistant Administrator for the Disaster Assistance Directorate may defer payments of principal and interest until FEMA makes its final determination with respect to any Application for Loan Cancellation which the borrower may submit. However, interest will continue to accrue.
(5) Any costs incurred by the Federal Government in collecting the note shall be added to the unpaid balance of the loan, bear interest at the same rate as the loan, and be immediately due without demand.
(6) In the event of default on this note by the borrower, the FEMA claims collection officer will take action to recover the outstanding principal plus related interest under Federal debt collection authorities, including administrative offset against other Federal funds due the borrower and/or referral to the Department of Justice for judicial enforcement and collection.
(c) Additional time. In unusual circumstances involving financial hardship, the local government may request an additional period of time beyond the original 10 year term to repay the indebtedness. Such request may be approved by the Assistant Administrator for the Disaster Assistance Directorate subject to the following conditions:
(1) The local government must submit documented evidence that it has applied for the same credit elsewhere and that such credit is not available at a rate equivalent to the current Treasury rate.
(2) The principal amount shall be the original uncancelled principal plus related interest.
(3) The interest rate shall be the Treasury rate in effect at the time the new Promissory Note is executed but in no case less than the original interest rate.
(4) The term of the new Promissory Note shall be for the settlement period requested by the local government but not greater than 10 years from the date the new note is executed.

Title 44 published on 2013-10-01

The following are only the Rules published in the Federal Register after the published date of Title 44.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-08-07; vol. 79 # 152 - Thursday, August 7, 2014
    1. 79 FR 46190 - Debris Removal: Eligibility of Force Account Labor Straight-Time Costs Under the Public Assistance Program for Hurricane Sandy
      GPO FDSys XML | Text
      DEPARTMENT OF HOMELAND SECURITY, Federal Emergency Management Agency
      Final rule.
      This final rule is effective September 8, 2014.
      44 CFR Part 206

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


United States Code
U.S. Code: Title 6 - DOMESTIC SECURITY
U.S. Code: Title 42 - THE PUBLIC HEALTH AND WELFARE

§ 5121 - Congressional findings and declarations

§ 5122 - Definitions

§ 5131 - Federal and State disaster preparedness programs

§ 5132 - Disaster warnings

§ 5133 - Predisaster hazard mitigation

§ 5134 - Interagency task force

§ 5141 - Waiver of administrative conditions

§ 5142 - Repealed.

§ 5143 - Coordinating officers

§ 5144 - Emergency support and response teams

§ 5145, 5146 - Repealed.

§ 5147 - Reimbursement of Federal agencies

§ 5148 - Nonliability of Federal Government

§ 5149 - Performance of services

§ 5150 - Use of local firms and individuals

§ 5151 - Nondiscrimination in disaster assistance

§ 5152 - Use and coordination of relief organizations

§ 5153 - Priority to certain applications for public facility and public housing assistance

§ 5154 - Insurance

§ 5154a - Prohibited flood disaster assistance

§ 5155 - Duplication of benefits

§ 5156 - Standards and reviews

§ 5157 - Penalties

§ 5158 - Availability of materials

§ 5159 - Protection of environment

§ 5160 - Recovery of assistance

§ 5161 - Audits and investigations

§ 5162 - Advance of non-Federal share

§ 5163 - Limitation on use of sliding scales

§ 5164 - Rules and regulations

§ 5165 - Mitigation planning

§ 5165a - Minimum standards for public and private structures

§ 5165b - Management costs

§ 5165c - Public notice, comment, and consultation requirements

§ 5165d - Designation of Small State and Rural Advocate

§ 5170 - Procedure for declaration

§ 5170a - General Federal assistance

§ 5170b - Essential assistance

§ 5170c - Hazard mitigation

§ 5171 - Federal facilities

§ 5172 - Repair, restoration, and replacement of damaged facilities

§ 5173 - Debris removal

§ 5174 - Federal assistance to individuals and households

§ 5175 - Repealed.

§ 5176 - Repealed.

§ 5177 - Unemployment assistance

§ 5177a - Emergency grants to assist low-income migrant and seasonal farmworkers

§ 5178 - Repealed.

§ 5179 - Benefits and distribution

§ 5180 - Food commodities

§ 5181 - Relocation assistance

§ 5182 - Legal services

§ 5183 - Crisis counseling assistance and training

§ 5184 - Community disaster loans

§ 5185 - Emergency communications

§ 5186 - Emergency public transportation

§ 5187 - Fire management assistance

§ 5188 - Timber sale contracts

§ 5189 - Simplified procedure

§ 5189a - Appeals of assistance decisions

§ 5189b - Date of eligibility; expenses incurred before date of disaster

§ 5189c - Transportation assistance to individuals and households

§ 5189d - Case management services

§ 5189e - Essential service providers

§ 5191 - Procedure for declaration

§ 5192 - Federal emergency assistance

§ 5193 - Amount of assistance

§ 5195 - Declaration of policy

§ 5195a - Definitions

§ 5195b - Administration of subchapter

§ 5195c - Critical infrastructures protection

§ 5196 - Detailed functions of administration

§ 5196a - Mutual aid pacts between States and neighboring countries

§ 5196b - Contributions for personnel and administrative expenses

§ 5196c - Grants for construction of emergency operations centers

§ 5196d - Use of funds to prepare for and respond to hazards

§ 5196e - Radiological Emergency Preparedness Fund

§ 5196f - Disaster related information services

§ 5197 - Administrative authority

§ 5197a - Security regulations

§ 5197b - Use of existing facilities

§ 5197c - Annual report to Congress

§ 5197d - Applicability of subchapter

§ 5197e - Authorization of appropriations and transfers of funds

§ 5197f - Relation to Atomic Energy Act of 1954

§ 5197g - Federal Bureau of Investigation

§ 5197h - Minority emergency preparedness demonstration program

§ 5201 - Rules and regulations

§ 5202 - Repealed.

§ 5203 - Excess disaster assistance payments as budgetary emergency requirements

§ 5204 - Insular areas disaster survival and recovery; definitions

§ 5204a - Authorization of appropriations for insular areas

§ 5204b - Technical assistance for insular areas

§ 5204c - Hazard mitigation for insular areas

§ 5205 - Disaster grant closeout procedures

§ 5206 - Buy American

§ 5207 - Firearms policies

Presidential Documents

Executive Order ... 12127

Executive Order ... 12148

Executive Order ... 13286

Reorganization ... 1978 Plan No. 3

Title 44 published on 2013-10-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 44 CFR 206 after this date.

  • 2014-08-07; vol. 79 # 152 - Thursday, August 7, 2014
    1. 79 FR 46190 - Debris Removal: Eligibility of Force Account Labor Straight-Time Costs Under the Public Assistance Program for Hurricane Sandy
      GPO FDSys XML | Text
      DEPARTMENT OF HOMELAND SECURITY, Federal Emergency Management Agency
      Final rule.
      This final rule is effective September 8, 2014.
      44 CFR Part 206