Use of Funds

I Maga’hågan/Maga’låhen Guåhan is authorized, upon passage of this Chapter and without further approval, to draw upon the LOC for emergency purposes to address the damage resulting from disasters; provided, such projects have been received and approved for FEMA funding by FEMA; and for PPPs that have been evaluated and approved using FEMA Section 404 Hazard Mitigation Standards, and approved by I Liheslaturan Guåhan, which PPP draws shall be limited to the amount of the matching contribution Guam is required to make on the PPP or disaster grants, which can range from 0% to 25% of the loan. SOURCE: P.L. 26-174:7 (Jan. 5, 2003); compiled by Compiler.