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42 U.S.C. § 1855aa to 1855ii — Repealed. Pub. L. 91–606, title III, § 302(2), Dec. 31, 1970, 84 Stat. 1759
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section 1855aa, Pub. L. 89–769, § 2, Nov. 6, 1966, 80 Stat. 1316, defined “major disaster.”
Pub. L. 89–769, §§ 1, 14, Nov. 6, 1966, 80 Stat. 1316, 1321, set out as notes under [section 1855aa of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1855aa&num=0&edition=prelim), gave the name “Disaster Relief Act of 1966” to Pub. L. 89–769, and provided for effective date of such act.
Section 1855bb, Pub. L. 89–769, § 3(a), Nov. 6, 1966, 80 Stat. 1316, called for rescheduling and refinancing of Federal loans in event of a major disaster. See [section 3538 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section3538&num=0&edition=prelim) and [section 912a of Title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section912a&num=0&edition=prelim), Agriculture.
Section 1855cc, Pub. L. 89–769, § 5, Nov. 6, 1966, 80 Stat. 1317, authorized Secretary of Defense to make available facilities of civil defense communications system in case of imminent natural disasters.
Section 1855dd, Pub. L. 89–769, § 8, Nov. 6, 1966, 80 Stat. 1320, set out order of priorities to be followed in processing applications for public facility and public housing assistance in major disaster areas.
Section 1855ee, Pub. L. 89–769, § 9, Nov. 6, 1966, 80 Stat. 1320, provided for reimbursement of costs of reconstruction of public facilities, eligible costs, and agencies and parties entitled to reimbursement.
Section 1855ff, Pub. L. 89–769, § 10, Nov. 6, 1966, 80 Stat. 1320, directed department heads to administer programs covering major disasters so that there is no duplication of efforts between various programs.
Section 1855gg, Pub. L. 89–769, § 11, Nov. 6, 1966, 80 Stat. 1321, provided f
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 1855aa to 1855ii
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Source file: Laws/federal/codes/united-states-code/title-42/section-1855aa-to-1855ii-42-u-s-c-1855aa-to-1855ii-repealed-pub-l-91606-title-iii-302-2-dec-31-19--b3c8481acb.md
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Source location: Title 42, Chapter 15, § 1855aa to 1855ii; chapter-015-disaster-relief.md
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### Statutory Notes
Section 1855aa, Pub. L. 89–769, § 2, Nov. 6, 1966, 80 Stat. 1316, defined “major disaster.”
Pub. L. 89–769, §§ 1, 14, Nov. 6, 1966, 80 Stat. 1316, 1321, set out as notes under [section 1855aa of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1855aa&num=0&edition=prelim), gave the name “Disaster Relief Act of 1966” to Pub. L. 89–769, and provided for effective date of such act.
Section 1855bb, Pub. L. 89–769, § 3(a), Nov. 6, 1966, 80 Stat. 1316, called for rescheduling and refinancing of Federal loans in event of a major disaster. See [section 3538 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section3538&num=0&edition=prelim) and [section 912a of Title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section912a&num=0&edition=prelim), Agriculture.
Section 1855cc, Pub. L. 89–769, § 5, Nov. 6, 1966, 80 Stat. 1317, authorized Secretary of Defense to make available facilities of civil defense communications system in case of imminent natural disasters.
Section 1855dd, Pub. L. 89–769, § 8, Nov. 6, 1966, 80 Stat. 1320, set out order of priorities to be followed in processing applications for public facility and public housing assistance in major disaster areas.
Section 1855ee, Pub. L. 89–769, § 9, Nov. 6, 1966, 80 Stat. 1320, provided for reimbursement of costs of reconstruction of public facilities, eligible costs, and agencies and parties entitled to reimbursement.
Section 1855ff, Pub. L. 89–769, § 10, Nov. 6, 1966, 80 Stat. 1320, directed department heads to administer programs covering major disasters so that there is no duplication of efforts between various programs.
Section 1855gg, Pub. L. 89–769, § 11, Nov. 6, 1966, 80 Stat. 1321, provided for extension of time to leaseholders, etc., of public lands in disaster areas.
Section 1855hh, Pub. L. 89–769, § 12, Nov. 6, 1966, 80 Stat. 1321, directed the President to coordinate and review all assistance programs.
Section 1855ii, Pub. L. 89–769, § 13, Nov. 6, 1966, 80 Stat. 1321, called for a study of air operation facilities for disaster assistance and for a report of findings of such study to Congress with recommendations by May 6, 1967.
For provisions relating to disaster relief, see section 5121 et seq. of this title.
#### Effective Date of Repeal
Repeal effective Dec. 31, 1970, see section 304 of Pub. L. 91–606, set out as an Effective Date of 1970 Amendment note under [section 165 of Title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section165&num=0&edition=prelim), Internal Revenue Code.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) General rule** There shall be allowed as a deduction any loss sustained during the taxable year and not compensated for by insurance or otherwise.
**(b) Amount of deduction** For purposes of subsection (a), the basis for determining the amount of the deduction for any loss shall be the adjusted basis provided in section 1011 for determining the loss from the sale or other disposition of property.
**(c) Limitation on losses of individuals** In the case of an individual, the deduction under subsection (a) shall be limited to—
(1) losses incurred in a trade or business;
(2) losses incurred in any transaction entered into for profit, though not connected with a trade or business; and
(3) except as provided in subsection (h), losses of property not connected with a trade or business or a transaction entered into for profit, if such losses arise from fire, storm, shipwreck, or other casualty, or from theft.
**(d) Wagering losses**
(1) **In general** — For purposes of losses from wagering transactions, the amount allowed as a deduction for any taxable year—
(A) shall be equal to 90 percent of the amount of such losses during such taxable year, and
(B) shall be allowed only to the extent of the gains from such transactions during such taxable year.
(2) **Special rule** — For purposes of paragraph (1), the term “losses from wagering transactions” includes any deduction otherwise allowable under this chapter incurred in carrying on any wagering transaction.
**(e) Theft losses** For purposes of subsection (a), any loss arising from theft shall be treated as sustained during the taxable year in which the taxpayer discovers such loss.
**(f) Capital losses** Losses from sales or exchanges of capital assets shall be allowed only to the extent allowed in sections
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 165
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Federal law — U.S. Code and appendices · legal_authorities
The Secretary of Housing and Urban Development is authorized to refinance any note or other obligation which is held by him in connection with any loan made by the Department of Housing and Urban Development or its predecessor in interest, or which is included within the revolving fund for liquidating programs established by the Independent Offices Appropriation Act of 1955 [[12 U.S.C. 1701g–5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1701g–5&num=0&edition=prelim)], where he finds such refinancing necessary because of the loss, destruction, or damage (as a result of a major disaster) to property or facilities securing such obligations. The Secretary may authorize a suspension in the payment of principal and interest charges on, and an additional extension in the maturity of, any such loan for a period not to exceed five years if he determines that such action is necessary to avoid severe financial hardship.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 3538
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Federal law — U.S. Code and appendices · legal_authorities
In addition to the loan extension authority provided in [section 912 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section912&num=0&edition=prelim), the Secretary of Agriculture is authorized to adjust and readjust the schedules for payment of principal and interest on loans to borrowers under programs administered by the Secretary under the Rural Electrification Act of 1936 ([7 U.S.C. 901](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section901&num=0&edition=prelim) et seq.), and to extend the maturity date of any such loan to a date not beyond forty years from the date of such loan where he determines such action is necessary because of the impairment of the economic feasibility of the system, or the loss, destruction, or damage of the property of such borrowers as a result of a major disaster.
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 912a
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