S. 1451 — Helene Small Business Recovery Act

This section establishes a temporary authority, applicable to major disasters or emergencies declared in calendar years 2023 or 2024, for the President to waive the prohibition on duplication of benefits (i.e., federal disaster assistance duplicating other federal aid for the same loss, under 42 U.S.C. 5155(a)) upon a governor's request on behalf of a state or affected person, business, or entity if the waiver is in the public interest and will not result in waste, fraud, or abuse. In determining whether to grant a waiver, the President may consider (1) recommendations from the FEMA Administrator in consultation with relevant federal agencies, (2) cost-effectiveness of the assistance, (3) equity and good conscience, and (4) other public policy matters; the President must grant or deny the request within 45 days. The section further (1) prohibits deeming any loan a duplication of benefits if all federal assistance is used for disaster-related losses and (2) bars applying any income threshold to waiver eligibility.