Relating to the creation of a flood recovery loan program to provide low-interest loans to persons who are victims of flood-related disasters.

HB 305 creates a state-administered flood recovery loan program to provide low-interest loans to Texas residents whose homes, farms, or businesses were damaged by floods in areas officially declared disaster zones by the governor. The program allows loans for specific, immediate needs like debris removal, repairing or rebuilding property, upgrading structures to better withstand future floods, or purchasing essential equipment such as farm machinery. The Texas Division of Emergency Management will manage the program, monitor loan usage to ensure compliance, conduct random audits, and offer support through a toll-free hotline and multilingual online resources for applicants. This directly affects property owners in declared flood disaster areas seeking financial assistance for recovery efforts.