This bill establishes a new federal program to help rural communities, Native American tribes, and U.S. territories reduce flood damage before disasters strike. The legislation creates a dedicated "SAFE Rural Fund" that automatically receives 2 percent of annual appropriations to the Federal Disaster Relief Fund, ensuring consistent year-to-year funding for rural flood prevention projects. States and tribal governments receive money through a formula that guarantees each eligible jurisdiction receives at least $5 million annually while prioritizing areas with higher populations and lower incomes. The program requires states and tribes to pass nearly all funding directly to rural communities as grants, with streamlined applications limited to five to ten pages and decisions made within six months. Eligible projects include traditional infrastructure like improved drainage systems and levees, as well as nature-based solutions such as wetland restoration and streambank stabilization. The bill also establishes a separate support program providing $1 million to $5 million annually to each state and tribe to build capacity for administering hazard mitigation programs, and reserves 15 percent of funds for small projects under $500,000 with especially simplified applications.