The Helene Small Business Recovery Act allows the President to waive federal rules that normally prevent disaster victims from receiving duplicate benefits when recovering from major disasters. Specifically, it targets businesses and individuals harmed by disasters declared in 2023 or 2024 (including Hurricane Helene) and allows them to receive both loans and other federal assistance for the same losses, as long as the funds are used toward actual disaster losses and the President determines the waiver serves the public interest. The President has 45 days to approve or deny any waiver request submitted by a governor or affected entity, and cannot use income limits to disqualify applicants. The bill removes the standard restriction that prevented people from receiving multiple forms of federal aid for the same disaster damage, intending to help small businesses and other entities rebuild more easily without having to choose between different types of assistance.
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