COMMUNITY DISASTER LOANS.

SEC. 207. COMMUNITY DISASTER LOANS. Section 417 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5184) is amended— (1) by striking “(a) The President” and inserting the following: “(a) In General. The President” ; (2) by striking “The amount” and inserting the following: “(b) Amount. The amount” ; (3) by striking “Repayment” and inserting the following: “(c) Repayment. “(1) Cancellation. Repayment” ; (4) by striking “(b) Any loans” and inserting the following: “(d) Effect on Other Assistance. Any loans” ; (5) in subsection (b) (as designated by paragraph (2))— (A) by striking “and shall” and inserting “shall”; and (B) by inserting before the period at the end the following: “, and shall not exceed $5,000,000”; and (6) in subsection (c) (as designated by paragraph (3)), by adding at the end the following: “(2) Condition on continuing eligibility. A local government shall not be eligible for further assistance under this section during any period in which the local government is in arrears with respect to a required repayment of a loan under this section.” .