Helene Small Business Recovery Act

This bill authorizes the President to waive the general prohibition against duplicating benefits under the Robert T. Stafford Disaster Relief and Emergency Assistance Act. This waiver can be requested by a Governor on behalf of a State, person, business, or other entity that has suffered losses due to a major disaster or emergency. The President must determine that granting the waiver is in the public interest and will not lead to waste, fraud, or abuse. When considering a waiver request, the President may take into account recommendations from the Federal Emergency Management Agency Administrator, the cost-effectiveness of the assistance, and principles of equity and good conscience . Importantly, the bill specifies that a loan cannot be deemed a duplication of assistance if all federal aid is applied to a loss resulting from the disaster. Furthermore, no income threshold may be used to limit a recipient's eligibility for such a waiver. The President is required to grant or deny a waiver request within 45 days, and these provisions apply to disasters declared in calendar years 2023 or 2024.