Minnesota § 12.301 - COMMUNITY DISASTER LOANS; GOVERNOR'S AUTHORITY
Full text of Minnesota Minnesota Statutes § 12.301 — COMMUNITY DISASTER LOANS; GOVERNOR'S AUTHORITY, with citation guidance and answers to common questions.
§ 12.301. COMMUNITY DISASTER LOANS; GOVERNOR'S AUTHORITY
Whenever, at the request of the governor, the president has declared a major disaster to exist in this state, the governor is authorized to take the following actions:
(a) Upon the governor's determination that a political subdivision of the state will suffer a substantial loss of tax and other revenues from a major disaster and has demonstrated a need for financial assistance to perform its governmental functions, the governor may apply to the federal government, on behalf of the political subdivision, for a loan, and receive and disburse the proceeds of the approved loan to the applicant political subdivision.
(b) The governor may determine the amount needed by an applicant political subdivision to restore or resume its governmental functions, and certify that amount to the federal government. No application amount may exceed 25 percent of the annual operating budget of the applicant for the fiscal year in which the major disaster occurs.
(c) The governor may recommend to the federal government, based upon the governor's review, the cancellation of all or any part of repayment when, in the first three full fiscal year period following the major disaster, the revenues of the political subdivision are insufficient to meet its operating expenses, including additional disaster-related expenses of a municipal operation character.
History:
1976 c 266 s 3; 1986 c 444; 1996 c 344 s 19
Official Publication of the State of Minnesota
Revisor of Statutes
Source: official Minnesota text · Last verified 2026-08-27
Frequently Asked Questions About Minnesota § 12.301
What does Minnesota Statutes § 12.301 cover?
Section 12.301 ("COMMUNITY DISASTER LOANS; GOVERNOR'S AUTHORITY") is part of the Minnesota Statutes, the codified statutory law of Minnesota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Minnesota § 12.301?
A common citation format is "Minnesota Statutes § 12.301" (Minnesota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 12.301 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Minnesota.