A bill to amend the Disaster Relief Act of 1974 and the National Flood Insurance Act of 1968.

Amends the Disaster Relief Act of 1974 to permit the President to make grants to a State for disaster related expenses of disaster victims regardless of the magnitude of the disaster. Specifies certain home repair and reconstruction included in such expenses. Specifies expenses for which assistance may not be extended, including business losses and expenses for which other assistance was available but was refused by the individual.

Increases the percentage of such a grant a State may apply to administration of such assistance. Permits one percent of such a grant which may be used to reimburse cooperating local units of government.

Authorizes the President to make grants for the repair and reconstruction of early childhood education facilities.

Amends the National Flood Insurance Act of 1968 to limit liability to $5,000 per dwelling unit or permanent fixture.