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The Natural Disaster Recovery Program Act of 2024 establishes a Natural Disaster Recovery Reserve Fund to provide federal assistance to states and Indian tribes for unmet disaster recovery needs following major disasters declared by the President. The bill requires the President to assess unmet recovery needs within 90 days of a disaster declaration and allocate funds proportionally based on assessed need, with states and tribes having discretion over how funds are prioritized and spent. The legislation includes provisions for administrative costs, technical assistance, procurement standards, and a 6-year spending period (extendable by up to 4 years) for grantees to use allocated funds.
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