S743 - The Disaster Recovery Act of 2024 - Part II. (SL 2024-53)
Session Year 2024
Overview: Section 4C.3 of S.L. 2024‑53 allocates $50 million in nonrecurring funds from the Helene Fund to Golden L.E.A.F., Inc. to administer a program to make bridge loans to qualifying businesses suffering economic distress as a result of Hurricane Helene. This section establishes various requirements related to the bridge loan program, including eligibility, appropriate use of funds, application procedures, reversion and repayment deadlines, and reporting requirements.
This section became effective October 25, 2024, and applies to bridge loans made using funds allocated by this section that occur on or after that date.
Additional Information: