Bill 118 hr 10088, also known as the Disaster Relief and Emergency Assistance Act, aims to provide financial assistance to areas affected by Hurricanes Helene and Milton. The bill appropriates funds to support relief efforts under the Robert T. Stafford Disaster Relief and Emergency Assistance Act. Additionally, the bill includes provisions to rescind unobligated balances and establish a new markets tax credit for low-income communities impacted by the hurricanes.
The primary focus of the bill is to provide aid to communities that have been devastated by the hurricanes, ensuring that they have the resources needed to recover and rebuild. The new markets tax credit is designed to stimulate economic growth in these low-income areas, helping them to recover and thrive in the aftermath of the disasters.
Overall, Bill 118 hr 10088 seeks to address the immediate needs of communities affected by Hurricanes Helene and Milton, while also laying the groundwork for long-term recovery and revitalization. It is an important piece of legislation that aims to support those who have been most severely impacted by these natural disasters.