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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Apr 5, 2022.
Small Project Efficient and Effective Disaster Recovery Act or the SPEED Recovery Act
This bill increases to $1 million the threshold for eligibility for assistance for what qualifies as a small project under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, thereby allowing more recovery projects to proceed under simplified procedures.
The threshold must be reviewed every three years.