Helene Recovery Support Act

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 10088 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                               H. R. 10088

 To appropriate certain amounts to provide assistance under the Robert 
 T. Stafford Disaster Relief and Emergency Assistance Act, to rescind 
 certain unobligated balances, and to establish additional new markets 
tax credit for low-income communities affected by Hurricanes Helene and 
                    Milton, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            November 1, 2024

     Ms. Foxx (for herself, Mr. Dunn of Florida, and Mr. Griffith) 
 introduced the following bill; which was referred to the Committee on 
Transportation and Infrastructure, and in addition to the Committees on 
Appropriations, Ways and Means, Financial Services, and Small Business, 
for a period to be subsequently determined by the Speaker, in each case 
for consideration of such provisions as fall within the jurisdiction of 
                        the committee concerned

_______________________________________________________________________

                                 A BILL


 
 To appropriate certain amounts to provide assistance under the Robert 
 T. Stafford Disaster Relief and Emergency Assistance Act, to rescind 
 certain unobligated balances, and to establish additional new markets 
tax credit for low-income communities affected by Hurricanes Helene and 
                    Milton, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Helene Recovery Support Act''.

SEC. 2. APPROPRIATIONS FOR DISASTER RELIEF FUND.

    In addition to amounts otherwise available, there is appropriated, 
out of any money in the Treasury not otherwise appropriated, 
$12,500,000,000 to the Administrator of the Federal Emergency 
Management Agency to provide assistance under the Robert T. Stafford 
Disaster Relief and Emergency Assistance Act (42 U.S.C. 5121 et seq.) 
in response to areas affected by an emergency or major disaster 
declared under such Act.

SEC. 3. RESCISSION OF FUNDS.

    Of the unobligated balances made available to the Pension Benefit 
Guaranty Corporation, $15,000,000,000 are rescinded.

SEC. 4. ECONOMIC INJURY DISASTER LOANS.

    In addition to amounts otherwise available, there is appropriated, 
out of any money in the Treasury not otherwise appropriated, 
$1,500,000,000 to the Administrator of the Small Business 
Administration to make or guarantee loans under section 7(b) of the 
Small Business Act (15 U.S.C. 636(b)) to persons located in areas 
affected by an emergency or major disaster declared under the Robert T. 
Stafford Disaster Relief and Economic Assistance Act (42 U.S.C. 5121 et 
seq.).

SEC. 5. ADDITIONAL NEW MARKETS TAX CREDIT FOR LOW-INCOME COMMUNITIES 
              AFFECTED BY HURRICANES HELENE AND MILTON.

    (a) In General.--For purposes of section 45D of the Internal 
Revenue Code of 1986, there is an additional new markets tax credit 
limitation amount of $1,000,000,000 for calendar year 2024.
    (b) Restriction to Low-Income Communities Affected by Hurricanes 
Helene and Milton.--The additional limitation amount under subsection 
(a) shall be allocated by the Secretary of the Treasury (or the 
Secretary's delegate) under section 45D(f)(2) of such Code only for use 
with respect to that portion of any low-income community which is 
located in any area--
            (1) with respect to which a major disaster has been 
        declared by the President (before the date of the enactment of 
        this Act) under section 401 of the Robert T. Stafford Disaster 
        Relief and Emergency Assistance Act by reason of Hurricane 
        Helene or Hurricane Milton, and
            (2) which has been determined by the President to warrant 
        individual or individual and public assistance from the Federal 
        Government under such Act by reason of such hurricanes.
    (c) Carryover of Unused Limitation.--Paragraph (3) of section 
45D(f) of such Code shall be applied separately with respect to the 
additional limitation amount under subsection (a) and the requirement 
of subsection (b) shall continue to apply to any such additional 
limitation amount carried forward under such paragraph.

SEC. 6. TERMINATION.

    Beginning on the date of the enactment of this Act, no Federal 
funds are authorized to be appropriated or otherwise made available to 
the Shelter and Services Program of the Federal Emergency Management 
Agency, as in effect on the day before such date of enactment, or to 
any successor or similar program.

SEC. 7. TRANSFER OF APPROPRIATIONS.

    The unobligated balances of all amounts appropriated or otherwise 
made available to the Shelter and Services Program of the Federal 
Emergency Management Agency as of the day before the date of the 
enactment of this Act shall be transferred to and merged with amounts 
otherwise made available for necessary expenses to carry out the Robert 
T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 
5121 et seq.).
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