1. Duplication of benefits (a) In general Section 312(b) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5155(b) ) is amended by adding at the end the following: (4) Waiver of general prohibition (A) In general The President may waive the general prohibition provided in subsection (a) upon request of a Governor, if the President finds such waiver is in the public interest. In making this decision the President may consider the following: (i) The recommendations of the Administrator of the Federal Emergency Management Agency made in consultation with the Federal agency administering the duplicative program. (ii) The cost benefits to be achieved by funding the assistance if the waiver is granted. (iii) Equity and good conscience. (iv) Other matters of public policy considered appropriate by the President. (B) Grant or denial of waiver A request under subparagraph (A) shall be granted or denied not later than 45 days after submission of such request. (C) Prohibition on determination that loan is a duplication Notwithstanding subsection (c), in carrying out subparagraph (A), the President may not determine that a loan is a duplication of assistance. . (b) Funding of a federally authorized water resources development project (1) Notwithstanding section 312 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act and its implementing regulations, assistance provided pursuant to section 404 of such Act may be used to fund eligible activities under section 404 associated with the construction of a federally authorized water resources development project of the Army Corps of Engineers. (2) Nothing in this subsection shall be construed to change the cost share of the hazard mitigation measures as determined under section 404. (3) All Federal funding provided under section 404 pursuant to this subsection shall be considered Federal funding for the purposes of a federally authorized water resources development project of the Army Corps of Engineers to which the State or local