H.R. 2364 — Helene Small Business Recovery Act

This section authorizes the President to waive, upon request by a state governor, the general prohibition on duplication of benefits under section 312(a) of the Stafford Act (42 U.S.C. 5155(a))—which bars federal disaster assistance for any part of a loss compensated by insurance or other sources—for major disasters declared in 2023 or 2024, if the President determines the waiver serves the public interest without waste, fraud, or abuse. Waiver decisions, which must be issued within 45 days of request, must consider (1) FEMA recommendations in consultation with relevant federal agencies, (2) cost-effectiveness of the assistance, (3) equity and good conscience, and (4) other public policy matters; prohibit deeming federal loans as duplicative if used for disaster losses (notwithstanding section 312(c)); and bar income thresholds for waiver eligibility. (As background, the duplication-of-benefits prohibition ensures federal funds supplement other recovery aid; waivers could enable faster rebuilding where other benefits are delayed or insufficient.)