COMMUNITY DISASTER LOANS.

SEC. 608. COMMUNITY DISASTER LOANS. Section 417(b) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5184(b)) is amended—(1) by striking “exceed 25 per centum” and inserting the following: “exceed—“(1) 25 percent”; and(2) by striking the period at the end and inserting the following: “; or“(2) if the loss of tax and other revenues of the local government as a result of the major disaster is at least 75 percent of the annual operating budget of that local government for the fiscal year in which the major disaster occurs, 50 percent of the annual operating budget of that local government for the fiscal year in which the major disaster occurs, and shall not exceed $5,000,000.”.