; federally declared disaster (1) Qualified disaster area The term qualified disaster area means any area determined to warrant individual or individual and public assistance from the Federal Government under the Robert T. Stafford Disaster Relief and Emergency Assistance Act by reason of a federally declared disaster occurring during the period beginning after December 31, 2011, and before January 1, 2016. (2) Federally declared disaster The term federally declared disaster has the meaning given to such term under section 165(i)(5). . (b) Clerical amendment The table of sections for subpart A of part IV of subchapter B of chapter 1 of such Code is amended by inserting after the item relating to section 146 the following new item: Sec. 146A. Qualified disaster area recovery bonds. . (c) Effective date The amendments made by this section shall apply to obligations issued after December 31, 2015. 115. Additional low-income housing credit allocations (a) In general Paragraph (3) of section 42(h) of the Internal Revenue Code of 1986 (relating to limitation on aggregate credit allowable with respect to projects located in a State) is amended by adding at the end the following new subparagraph: (J) Increase in State housing credit for States damaged by natural disasters (i) In general In the case of calendar year 2016, the State housing credit ceiling of each State any portion of which includes any portion of a qualifying disaster area shall be increased by so much of the aggregate housing credit dollar amount as does not exceed the applicable limitation allocated by the State housing credit agency of such State for such calendar year to buildings located in qualifying disaster areas. (ii) Applicable limitation For purposes of clause (i), the applicable limitation is the greater of— (I) $8 multiplied by the population of the qualifying disaster areas in such State, or (II) 50 percent of the State housing credit ceiling (determined without regard to this subparagraph) for 2015. (iii) Applicable percentage For purposes