The Protect Our Homes Act establishes a loan program for homeowner associations to repair common areas damaged by disasters and implement mitigation.
The Protect Our Homes Act amends the Small Business Act to create a loan program administered by the Small Business Administration. This program allows homeowner associations to obtain loans for repairing common areas damaged by natural disasters and implementing measures to protect against future disasters. The loans are available to associations in recent disaster areas and have specific limits and interest rates. The act defines terms such as "covered entity," "residential common area," and "covered repair.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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