1. Short title This Act may be cited as the Rural Disaster Declaration Fairness Act . 2. Regulatory action required (a) In general Not later than 120 days after the date of enactment of this Act, the Administrator of the Federal Emergency Management Agency (in this Act referred to as the Administrator and FEMA , respectively) shall amend the rules of the Administrator under section 206.48 of title 44, Code of Federal Regulations, as in effect on the date of enactment of this Act, in accordance with the provisions of this Act. (b) New criteria required The amended rules issued under subsection (a) shall provide for the following: (1) Public assistance program Such rules shall provide that, with respect to the evaluation of the need for public assistance, FEMA shall consider the economic circumstances of the local economy of the affected area, including factors such as the local assessable tax base and local sales tax, the median income, and the poverty rate. (2) Individual assistance program Such rules shall provide that, with respect to the evaluation of the severity, magnitude, and impact of the disaster and the evaluation of the need for assistance to individuals, FEMA shall consider the economic circumstances of the affected area, including factors such as the local assessable tax base and local sales tax, the median income, and the poverty rate. (c) Effective date The amended rules issued under subsection (a) shall apply to any disaster for which a Governor requested a major disaster declaration under the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5121 et seq. ) and was denied on or after January 1, 2012. (d) Cost sharing Section 406(b) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5172 ) is amended by striking paragraph (1) and inserting the following: (1) Minimum non-Federal share The non-Federal share of assistance under this section shall be not less than 10 percent of the eligible cost of repair, restoration, reconstruction, or