• Hurricane Michael Disaster Relief Loans Application Open

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    January 14, 2019


    PRESS RELEASE
     
    Contact:           Ines Owens, Director
                            

    Hurricane Michael Disaster Relief Loans Application Open
     
    ATLANTA (January 14, 2019) | The Georgia Department of Agriculture recently announced that funding allocated in the November 2018 Special Session is available for distribution through the Georgia Development Authority. Sen. Larry Walker (R – Perry), who also carried HB 4EX in the 2018 special session, encourages farmers effected to visit the websites listed below to start the application process.
     
    “I know that there are many people across Georgia and in District 20 whose livelihood was severely impacted by Hurricane Michael,” said Sen. Walker. “These loans will help them get back on their feet as quickly as possible. Additionally, assistance is available to those with timerland damaged by the hurricane. I am sure that with this assistance, our row crop, timber and pecan yield will rebound in time stronger than before, so I encourage you to take full advantage of these programs as we work to keep agriculture the top industry in our state.”
     
    The funds allocated by the Georgia General Assembly will be distributed through the SAFETY 21 Loan Program. You may apply for a loan if you are a farmer who has lost income as a result of Hurricane Michael. The loan program limits borrowers to $400,000 per 7-year loan, and has a guaranteed interest rate of 1 percent for the first two years. For more information, visit www.gdaonline.com or www.agr.georgia.gov.
     
    HB 4EX allows timberland owners in the 28 counties outlined in the Governor’s Nov. 6, 2018 disaster relief order to apply for an income tax credit worth 100 percent of timberland’s value lost to Hurricane Michael. The income tax credit has a cap of $200 million and the credit would be capped at $400 per eligible acre of qualified timberland. This credit will be applied through the Department of Revenue.
     
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    Sen. Larry Walker serves as the Majority Caucus Vice Chairman.  He represents the 20th Senate District, which includes Bleckley, Houston, Laurens and Pulaski counties.  He may be reached by phone at 404.656.7454 or by email at larry.walker@senate.ga.gov.