The bill proposes the establishment of a new program called the Texas Disaster Relief and Prevention Matching Grant and Loan Program, which will be funded through a newly created Disaster Relief and Prevention Account. This program aims to provide matching grants and loans to eligible individuals and entities for disaster relief and future disaster prevention efforts. The bill outlines the definitions of key terms, the establishment of the program, and the eligibility criteria for applicants, which include political subdivisions and businesses located in declared disaster areas.

Additionally, the bill details the application process for obtaining matching grants or loans, the permissible uses of the funds, and the terms under which loans will be provided. It mandates the Texas Division of Emergency Management to implement the program and adopt necessary rules within a specified timeframe. The account will consist of funds appropriated by the legislature, repayments from loans, and donations, ensuring that the resources are dedicated solely to the purposes outlined in the bill.

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