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State Senate approves bills to provide aid to flood victims |
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HARRISBURG - Two flood-recovery bills introduced by Sen. Lisa Baker (R-20) to help the hardest-hit victims of Tropical Storms Irene and Lee have won the approval of key Senate committees. Baker's first bill offers grants to persons whose uncompensated losses exceed the limit of federal aid. The second offers low-interest loans to small businesses. "These storms are among the worst natural disasters to hit this area, but existing programs are not enough to meet the need," Baker said. "Under the circumstances, we have a responsibility to provide avenues for state help." Senate Bill 1264 offers grants of up to $10,000 to flood victims whose uncompensated losses exceed the limits of federal aid. An individual with an income at or below 300 percent of poverty level is eligible to apply. A second bill, approved by the Senate Community, Economic and Recreational Development Committee today, offers low-interest loans to small businesses in flood-declared counties. Senate Bill 1297 sets up a state loan program through the state's Department of Community and Economic Development. The Small Business Flood Relief Program would help for-profit enterprises that employ 100 or fewer persons. Loans to small businesses will range up to $100,000. Loans for working capital or inventory will be offered at three percent interest. Loans for equipment or real property would not exceed one percent interest. |
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