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[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 2319 Introduced in Senate (IS)]

109th CONGRESS
  2d Session
                                S. 2319

   To provide for the recovery from Hurricane Katrina, and for other 
                               purposes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                           February 16, 2006

   Mr. Obama introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL

 
   To provide for the recovery from Hurricane Katrina, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Hurricane Katrina Recovery Act of 
2006''.

SEC. 2. TABLE OF CONTENTS.

    The table of contents for this Act is as follows:

Sec. 1. Short title.
Sec. 2. Table of contents.
 TITLE I--TRANSPARENCY AND ACCOUNTABILITY DURING THE HURRICANE KATRINA 
                       RECOVERY AND RELIEF EFFORT

Sec. 101. Definitions.
Sec. 102. Establishment and functions.
Sec. 103. Reports of the Government Accountability Office.
Sec. 104. Administrative and support services.
Sec. 105. Public reporting.
Sec. 106. Authorization of appropriations.
Sec. 107. Termination of office.
                    TITLE II--FAMILY LOCATOR SYSTEM

Sec. 201. Definitions.
Sec. 202. National emergency family locator system.
Sec. 203. Authorization of appropriations.
        TITLE III--EVACUATION OF INDIVIDUALS WITH SPECIAL NEEDS

Sec. 301. Findings and purpose.
Sec. 302. Evacuation plans for individuals with special needs.
Sec. 303. Report to Congress.
         TITLE IV--HURRICANE KATRINA EMERGENCY HEALTH WORKFORCE

Sec. 401. Definitions.
Sec. 402. National emergency health professionals volunteer corps.
Sec. 403. Health professional database.
Sec. 404. Protection of health professional volunteers.
Sec. 405. Preparedness training requirements.
Sec. 406. Liability protections.
Sec. 407. General waiver authority.
                       TITLE V--HEALTH PROVISIONS

Sec. 501. Repair and disparities grants.
               TITLE VI--HOUSING AND COMMUNITY REBUILDING

Sec. 601. Definitions.
Sec. 602. Affordable housing fund.
Sec. 603. Public housing capital fund reserves for emergencies and 
                            natural disasters.
Sec. 604. Community Development Block Grant assistance.
Sec. 605. CDBG loan guarantee program.
Sec. 606. Capacity building for community development and affordable 
                            housing.
Sec. 607. Prohibition of placement of families in substandard dwelling 
                            units.
Sec. 608. Fair housing enforcement.
Sec. 609. Housing counseling for families in temporary shelters.
Sec. 610. Availability of HUD inventory properties.
Sec. 611. Equitable distribution of affordable HOME program funds.
                TITLE VII--FINANCIAL SERVICES PROVISIONS

Sec. 701. Definitions.
Sec. 702. Hurricane Katrina regulatory relief.
Sec. 703. Flexibility in capital and net worth standards for small 
                            affected institutions.
Sec. 704. Waiver of certain limitation on certain bank investments to 
                            promote the public welfare.
Sec. 705. Emergency authority to guarantee checks cashed for victims of 
                            Hurricane Katrina.
Sec. 706. Technical assistance for minority institutions.
Sec. 707. Implementing Katrina disaster relief through the CDFI Fund.
     TITLE VIII--EXPANDED OPPORTUNITY AND SMALL BUSINESS PROVISIONS

Sec. 801. Definitions.
Sec. 802. Increased procurement goal for certain Federal contracts for 
                            recovery from Hurricane Katrina.
Sec. 803. Local participation goal for participation in Federal 
                            procurement contracts in areas affected by 
                            Hurricane Katrina.
Sec. 804. Hurricane recovery-related contracts to require 40 percent of 
                            contract workers be local residents.
Sec. 805. Apprenticeship and other requirements for post-hurricane 
                            reconstruction.
Sec. 806. Technical Assistance Program for Small Business Owners' 
                            Recovery.
         TITLE IX--RELIEF FOR INSTITUTIONS OF HIGHER EDUCATION

Sec. 901. Findings; sense of Congress.
Sec. 902. Definitions.
Sec. 903. Institutional grants for faculty retention.
Sec. 904. Loan forgiveness.
Sec. 905. Regulations.
Sec. 906. Emergency designations.
  TITLE X--INCREASED ACCESS TO REFUNDABLE PORTION OF CHILD TAX CREDIT

Sec. 1001. Reduction in income threshold used to calculate refundable 
                            portion of child tax credit.
Sec. 1002. Increase in percentage earned income used to calculate 
                            refundable portion of child tax credit.
Sec. 1003. Working family tax relief.
                       TITLE XI--SENSE OF SENATE

Sec. 1101. Sense of the Senate regarding source of certain funding.

 TITLE I--TRANSPARENCY AND ACCOUNTABILITY DURING THE HURRICANE KATRINA 
                       RECOVERY AND RELIEF EFFORT

SEC. 101. DEFINITIONS.

    In this title:
            (1) Chief financial officer.--The term ``Chief Financial 
        Officer'' means the Hurricane Katrina Recovery Chief Financial 
        Officer.
            (2) Office.--The term ``Office'' means the Office of the 
        Hurricane Katrina Recovery Chief Financial Officer.

SEC. 102. ESTABLISHMENT AND FUNCTIONS.

    (a) Establishment.--There is established within the Executive 
Office of the President, the Office of the Hurricane Katrina Recovery 
Chief Financial Officer.
    (b) Chief Financial Officer.--
            (1) Appointment.--The Hurricane Katrina Recovery Chief 
        Financial Officer shall be the head of the Office. The Chief 
        Financial Officer shall be appointed by the President, by and 
        with the advice and consent of the Senate.
            (2) Qualifications.--The Chief Financial Officer shall--
                    (A) have the qualifications required under section 
                901(a)(3) of title 31, United States Code; and
                    (B) have knowledge of Federal contracting and 
                policymaking functions.
    (c) Authorities and Functions.--
            (1) In general.--The Chief Financial Officer shall--
                    (A) be responsible for the efficient and effective 
                use of Federal funds in all activities relating to the 
                recovery from Hurricane Katrina;
                    (B) strive to ensure that--
                            (i) priority in the distribution of Federal 
                        relief funds is given to individuals and 
                        organizations most in need of financial 
                        assistance; and
                            (ii) priority in the distribution of 
                        Federal reconstruction funds is given to 
                        business entities that are based in Louisiana, 
                        Mississippi, Alabama, or Florida or business 
                        entities that hire workers who resided in those 
                        States on August 28, 2005;
                    (C) perform risk assessments of all programs and 
                operations related to recovery from Hurricane Katrina 
                and implement internal controls and program oversight 
                based on risk of waste, fraud, or abuse;
                    (D) report directly to the head of the Office 
                regarding financial management matters;
                    (E) oversee all financial management activities 
                relating to the programs and operations of the 
                Hurricane Katrina recovery effort;
                    (F) develop and maintain an integrated accounting 
                and financial management system, including financial 
                reporting and internal controls, which--
                            (i) complies with applicable accounting 
                        principles, standards, and requirements, and 
                        internal control standards;
                            (ii) complies with such policies and 
                        requirements as may be prescribed by the 
                        Director of the Office of Management and 
                        Budget;
                            (iii) complies with any other requirements 
                        applicable to such systems; and
                            (iv) provides for--
                                    (I) complete, reliable, consistent, 
                                and timely information which is 
                                prepared on a uniform basis and which 
                                is responsive to the financial 
                                information needs of the Office;
                                    (II) the development and reporting 
                                of cost information;
                                    (III) the integration of accounting 
                                and budgeting information; and
                                    (IV) the systematic measurement of 
                                performance;
                    (G) monitor the financial execution of the budget 
                of Federal agencies relating to recovery from Hurricane 
                Katrina in relation to actual expenditures, and prepare 
                and submit to the head of the Office timely performance 
                reports;
                    (H) have access to all records, reports, audits, 
                reviews, documents, papers, recommendations, or other 
                material which are the property of Federal agencies or 
                which are available to the agencies, and which relate 
                to programs and operations with respect to which the 
                Chief Financial Officer has responsibilities;
                    (I) request such information or assistance as may 
                be necessary for carrying out the duties and 
                responsibilities provided by this section from any 
                Federal, State, or local governmental entity, including 
                any Chief Financial Officer under section 902 of title 
                31, United States Code, and, upon receiving such 
                request, insofar as is practicable and not in 
                contravention of any existing law, any such Federal 
                Governmental entity or Chief Financial Officer under 
                section 902 shall cooperate and furnish such requested 
                information or assistance;
                    (J) to the extent and in such amounts as may be 
                provided in advance by appropriations Acts, be 
                authorized to--
                            (i) enter into contracts and other 
                        arrangements with public agencies and with 
                        private persons for the preparation of 
                        financial statements, studies, analyses, and 
                        other services; and
                            (ii) make such payments as may be necessary 
                        to carry out this section;
                    (K) for purposes of the Improper Payments 
                Information Act of 2002 (31 U.S.C. 3321 note), perform, 
                in consultation with the Office of Management and 
                Budget, the functions of the head of an agency for any 
                activity relating to the recovery from Hurricane 
                Katrina that is not currently the responsibility of the 
                head of an agency under that Act; and
                    (L) transmit a report, on a quarterly basis, 
                regarding any program or activity identified by the 
                Chief Financial Officer as susceptible to significant 
                improper payments under section 2(a) of the Improper 
                Payments Information Act of 2002 (31 U.S.C. 3321 note) 
                to the appropriate inspector general.
            (2) Access.--Except as provided in paragraph (1)(I), this 
        subsection does not provide to the Chief Financial Officer any 
        access greater than permitted under any other law to records, 
        reports, audits, reviews, documents, papers, recommendations, 
        or other material of any Office of Inspector General 
        established under the Inspector General Act of 1978 (5 U.S.C. 
        App.).
            (3) Coordination of agencies.--In the performance of the 
        authorities and functions under paragraph (1) by the Chief 
        Financial Officer the President (or the President's designee) 
        shall act as the head of the Office and the Chief Financial 
        Officer shall have management and oversight of all agencies 
        performing activities relating to the recovery from Hurricane 
        Katrina.
            (4) Regular reports.--
                    (A) In general.--Every month the Chief Financial 
                Officer shall submit a financial report on the 
                activities for which the Chief Financial Officer has 
                management and oversight responsibilities to--
                            (i) the Committee on Homeland Security and 
                        Governmental Affairs of the Senate;
                            (ii) the Committee on Homeland Security of 
                        the House of Representatives;
                            (iii) the Committees on Appropriations of 
                        the Senate and House of Representatives; and
                            (iv) the Committee on Government Reform of 
                        the House of Representatives.
                    (B) Contents.--Each report under this paragraph 
                shall include--
                            (i) the extent to which Federal relief 
                        funds have been given to individuals and 
                        organizations most in need of financial 
                        assistance;
                            (ii) the extent to which Federal 
                        reconstruction funds have been made available 
                        to business entities that are based in 
                        Louisiana, Mississippi, Alabama, or Florida or 
                        business entities that hire workers who resided 
                        in those States on August 28, 2005; and
                            (iii) the extent to which Federal agencies 
                        have made use of sole source, no-bid or cost-
                        plus contracts.
                    (C) First report.--The first report under this 
                paragraph shall be submitted for the first full month 
                for which a Chief Financial Officer has been appointed.
    (d) Responsibilities of Chief Financial Officers.--Nothing in this 
Act shall be construed to relieve the responsibilities of any Chief 
Financial Officer under section 902 of title 31, United States Code.
    (e) Availability of Records.--Upon request to the Chief Financial 
Officer, the Office shall make the records of the Office available to 
the Inspector General of any Federal agency performing recovery 
activities relating to Hurricane Katrina, or to any Special Inspector 
General designated to investigate such activities, for the purpose of 
performing the duties of that Inspector General under the Inspector 
General Act of 1978 (5 U.S.C. App.).

SEC. 103. REPORTS OF THE GOVERNMENT ACCOUNTABILITY OFFICE.

    The Government Accountability Office shall provide quarterly 
reports to the committees described under section 102(c)(4)(A) relating 
to all activities and expenditures overseen by the Office, including--
            (1) the accuracy of reports submitted by the Chief 
        Financial Officer to Congress;
            (2) the extent to which agencies performing activities 
        relating to the recovery from Hurricane Katrina have made use 
        of sole source, no-bid or cost-plus contracts;
            (3) whether Federal funds expended by State and local 
        government agencies were spent for their intended use;
            (4) the extent to which Federal relief funds have been 
        distributed to individuals and organizations most affected by 
        Hurricane Katrina and Federal reconstruction funds have been 
        made available to business entities that are based in 
        Louisiana, Mississippi, Alabama, or Florida or business 
        entities that hire workers who resided in those States on 
        August 28, 2005; and
            (5) the extent to which internal controls to prevent waste, 
        fraud, or abuse exist in the use of Federal funds relating to 
        the recovery from Hurricane Katrina.

SEC. 104. ADMINISTRATIVE AND SUPPORT SERVICES.

    (a) In General.--The President shall provide administrative and 
support services (including office space) for the Office and the Chief 
Financial Officer.
    (b) Personnel.--The President shall provide for personnel for the 
Office through the detail of Federal employees. Any Federal employee 
may be detailed to the Office without reimbursement, and such detail 
shall be without interruption or loss of civil service status or 
privilege.

SEC. 105. PUBLIC REPORTING.

    (a) Newspaper Reporting.--A summary of the monthly financial report 
required under section 102(c)(4) shall be published in a newspaper of 
general circulation in each county or parish affected by Hurricane 
Katrina, and shall include--
            (1) the total amount of Federal reconstruction expenditures 
        for the preceding month;
            (2) the percentage of those expenditures made available to 
        business entities that are based in Louisiana, Mississippi, 
        Alabama, or Florida or business entities that hire workers who 
        resided in those States on August 28, 2005;
            (3) the percentage of Federal expenditures which involve 
        sole source or cost-plus contracts;
            (4) information on how to access a full copy of the report 
        on an accessible Federal Government website; and
            (5) an electronic mail address and a toll-free telephone 
        number through which local residents may contact the Office to 
        report fraud, waste, or abuse.
    (b) Public Availability of Contract Award Information.--
            (1) Requirement.--Not later than 30 days after the award of 
        a Hurricane Katrina-related contract by an executive agency, 
        the chief financial officer shall make publicly available the 
        following information with respect to the contract:
                    (A) The name and address of the contractor.
                    (B) The date of award of the contract.
                    (C) The number of offers received in response to 
                the solicitation.
                    (D) The total amount of the contract.
                    (E) The contract type, including a general 
                description of the items or services to be procured 
                under the contract.
                    (F) With respect to a procurement carried out using 
                procedures other than competitive procedures--
                            (i) the authority for using such procedures 
                        under section 303(c) of title III of the 
                        Federal Property and Administrative Services 
                        Act of 1949 (41 U.S.C. 253(c)) or section 
                        2304(c) of title 10, United States Code; and
                            (ii) the number of sources from which bids 
                        or proposals were solicited.
                    (G) The general reasons for selecting the 
                contractor.
                    (H) An electronic mail address and toll-free 
                telephone number through which local residents may 
                contact the agency to report fraud, waste, or abuse.
            (2) Public availability.--The information required under 
        paragraph (1) shall be made available by--
                    (A) publishing in a newspaper of general 
                circulation in the local government unit where a 
                majority of the contract is to be performed; and
                    (B) posting on an accessible Federal Government 
                website.
            (3) Definition.--In this section, the term ``executive 
        agency'' has the meaning provided in section 4 of the Office of 
        Federal Procurement Policy Act (41 U.S.C. 403).

SEC. 106. AUTHORIZATION OF APPROPRIATIONS.

    There are authorized to be appropriated such sums as necessary to 
carry out this Act.

SEC. 107. TERMINATION OF OFFICE.

    (a) In General.--The Office and position of Chief Financial Officer 
shall terminate 1 year after the date of enactment of this Act.
    (b) Extension.--The President may extend the date of termination 
annually under subsection (a) to any date occurring before 5 years 
after the date of enactment of this Act.
    (c) Notification.--The President shall notify the committees 
described under section 102(c)(4)(A) 60 days before any extension of 
the date of termination under this section.

                    TITLE II--FAMILY LOCATOR SYSTEM

SEC. 201. DEFINITIONS.

    In this title--
            (1) the term ``Department'' means the Department of 
        Homeland Security;
            (2) the terms ``emergency'' and ``major disaster'' have the 
        same meaning as in section 102 of the Robert T. Stafford 
        Disaster Relief and Emergency Assistance Act (42 U.S.C. 5122);
            (3) the term ``Secretary'' means the Secretary of Homeland 
        Security; and
            (4) the term ``System'' means the National Emergency Family 
        Locator System established under this title.

SEC. 202. NATIONAL EMERGENCY FAMILY LOCATOR SYSTEM.

    (a) In General.--Not later than 180 days after the date of 
enactment of this Act, the Secretary shall establish within the 
Department the National Family Locator System.
    (b) Purposes.--The purposes of the System are to--
            (1) enable individuals displaced by an emergency or major 
        disaster to provide to the Department the name and location of 
        the displaced individuals, and any other relevant information, 
        using the telephone, the Internet, and other means determined 
        to be appropriate by the Secretary; and
            (2) enable the Department--
                    (A) to compile the information collected under 
                paragraph (1); and
                    (B) to provide the information collected and 
                compiled under the System to the family members of 
                individuals displace by an emergency or major disaster 
                and law enforcement officials.
    (c) Considerations.--In establishing the System under subsection 
(a), the Secretary shall take into account and, to the maximum extent 
practicable, incorporate into the System--
            (1) intermediary-based locator systems, such as the 
        National Next of Kin Registry; and
            (2) information from existing family locator databases, 
        such as the Family News Network of the International Committee 
        of the Red Cross.

SEC. 203. AUTHORIZATION OF APPROPRIATIONS.

    There are authorized to be appropriated such sums as are necessary 
to carry out this title.

        TITLE III--EVACUATION OF INDIVIDUALS WITH SPECIAL NEEDS

SEC. 301. FINDINGS AND PURPOSE.

    (a) Findings.--Congress makes the following findings:
            (1) Many of the lives lost to Hurricane Katrina and the 
        flooding that ensued could have been prevented had everyone 
        been evacuated before the hurricane came ashore.
            (2) Many people who were not evacuated lacked the resources 
        to evacuate.
            (3) Many people who lacked the resources to evacuate--
                    (A) did not have access to any means of 
                transportation to evacuate;
                    (B) had neither a vehicle nor the funding to pay 
                for transportation out of the threatened areas; and
                    (C) did not have access to, nor could they afford, 
                temporary accommodations outside the threatened areas.
            (4) Many elderly and disabled individuals, including those 
        in hospitals and nursing homes, were physically incapable of 
        leaving on their own.
            (5) In St. Bernard Parish, Louisiana, an estimated 34 of 60 
        residents in the St. Rita nursing home perished in the rising 
        flood waters in the aftermath of Hurricane Katrina.
            (6) A more effective predisaster and postdisaster plan for 
        evacuation that addressed the requirements of those with 
        special needs, such as those without transportation or those 
        with physical disabilities, could have helped save lives.
    (b) Purpose.--The purpose of this title is to ensure the 
preparation of communities for future natural, accidental, or 
deliberate disasters by ensuring that the States prepare for the 
evacuation of individuals with special needs.

SEC. 302. EVACUATION PLANS FOR INDIVIDUALS WITH SPECIAL NEEDS.

    The Secretary of Homeland Security, acting through the Office of 
State and Local Government Coordination and Preparedness, shall take 
appropriate actions to ensure that each State, in its homeland security 
strategy or other homeland security plan, provides detailed and 
comprehensive information regarding its predisaster and postdisaster 
plans for the evacuation of individuals with special needs, including 
low-income individuals and families, disabled individuals, the 
homeless, individuals who do not speak English, and the elderly, in an 
emergency that would warrant their evacuation, including plans for the 
provision of food, water, and shelter for evacuees.

SEC. 303. REPORT TO CONGRESS.

    (a) In General.--Not later than 1 year after the date of enactment 
of this Act, the Secretary of Homeland Security shall submit to 
Congress a report setting forth the plans of the States to evacuate 
individuals with special needs in an emergency that would warrant their 
evacuation.
    (b) Contents.--The report submitted under subsection (a) shall 
include a discussion of--
            (1) whether the States have the resources necessary to 
        implement fully their evacuation plans; and
            (2) the manner in which the plans of the States are 
        integrated with the response plans of the Federal Government 
        for an emergency that would require the evacuation of 
        individuals with special needs.

         TITLE IV--HURRICANE KATRINA EMERGENCY HEALTH WORKFORCE

SEC. 401. DEFINITIONS.

    In this title:
            (1) Corps.--The term ``Corps'' means the National Emergency 
        Health Professionals Volunteer Corps established under section 
        402.
            (2) FEMA.--The term ``FEMA'' means the Federal Emergency 
        Management Agency of the Emergency Preparedness and Response 
        Directorate of the Department of Homeland Security.
            (3) Health professional.--The term ``health professional'' 
        means a physician, nurse, mental health provider, paramedic, 
        pharmacist, public health practitioner, veterinarian, 
        epidemiologist, statistician, laboratorian, infectious disease 
        specialist, or other individual provider of health-related 
        services, as designated by the Secretary.
            (4) Secretary.--The term ``Secretary'' means the Secretary 
        of Health and Human Services.

SEC. 402. NATIONAL EMERGENCY HEALTH PROFESSIONALS VOLUNTEER CORPS.

    (a) In General.--Not later than 6 months after the date of 
enactment of this Act, the Secretary shall establish a National 
Emergency Health Professionals Volunteer Corps to provide for an 
adequate supply of health professionals in the case of a Federal, 
State, or local emergency. The Corps shall be headed by a Director to 
be appointed by the Secretary.
    (b) Duties.--The Director of the Corps shall conduct the following 
activities:
            (1) Analysis of need to determine the number and types of 
        Corps volunteers necessary.
            (2) Determination of minimum licensing or credentialing 
        standards for each type of Corps volunteers.
            (3) Recruitment and retention of health professionals.
            (4) Development of the Corps volunteer certification 
        program in accordance with subsection (d).
            (5) Development of training programs.
            (6) Development of protocols for contact and deployment of 
        Corps volunteers.
            (7) Coordination of Corps volunteers with Medical Reserve 
        Corps and other volunteer networks.
    (c) Composition.--The Corps shall be composed of health 
professionals who--
            (1) have training and expertise in the areas of medicine, 
        nursing, mental health, public health, pharmacy, dentistry, 
        emergency medical services, veterinary science, laboratory 
        science, and other areas as determined appropriate by the 
        Director of the Corps;
            (2) have been certified in accordance with the 
        certification program developed under subsection (b)(4);
            (3) are geographically diverse in residence; and
            (4) are willing to be deployed in case of emergency.
    (d) Certification.--The Director of the Corps, in collaboration 
with the Director of FEMA and the Administrator of the Health Resources 
and Services Administration, shall establish a program for the periodic 
certification of health professionals who volunteer for the Corps which 
shall include, with respect to the health professional involved, an 
assessment of--
            (1) the professional expertise and training of the 
        professional, including licensure and credentialing as 
        appropriate;
            (2) the completion by the professional of the training 
        programs developed under subsection (b)(5), as required by the 
        Director; and
            (3) the preparedness of the professional for emergency 
        response which may include written examination and hands-on 
        skill assessment.
    (e) Deployment.--
            (1) In general.--During a Federal, State, or local 
        emergency (as designated by the Secretary or the Secretary of 
        Homeland Security), the Secretary, in consultation with the 
        Secretary of Homeland Security, shall have the authority to 
        deploy members of the Corps to areas of need, based on the 
        medical expertise required.
            (2) Limitation.--State and local officials shall have no 
        authority to deploy members of the Corps, but may request the 
        services of such members.
    (f) Compensation, Expenses, and Transportation.--While engaged in 
performing duties as a member of the Corps pursuant to an assignment by 
the Secretary (including periods of travel to facilitate such 
assignment), members of the Corps who are not otherwise employed by the 
Federal Government shall be--
            (1) compensated for temporary or intermittent services as 
        experts or consultants as provided for under section 3109 of 
        title 5, United States Code; and
            (2) allowed travel or transportation expenses, including 
        per diem in lieu of subsistence, as provided for under section 
        5703 of such title.
    (g) Authorization of Appropriations.--There is authorized to be 
appropriated such sums as may be necessary to carry out this Act (and 
the amendments made by this Act) for each of fiscal years 2006 through 
2010.

SEC. 403. HEALTH PROFESSIONAL DATABASE.

    (a) Establishment.--Not later than 12 months after the date of 
enactment of this Act, the Director of the Centers for Disease Control 
and Prevention (referred to in this section as the ``Director''), in 
collaboration with the Administrator of the Health Resources and 
Services Administration, State medical and nursing licensing boards, 
medical and nursing professional societies, and other relevant 
entities, shall establish a national database of health professionals 
(including physicians, nurses, and other health professionals 
determined appropriate by the Director) to increase health preparedness 
for Federal emergencies.
    (b) Requirements of Database.--The database established under 
subsection (a) shall include--
            (1) with respect to each health professional listed in the 
        database--
                    (A) the name and contact information of the 
                professional;
                    (B) the State or States in which the professional 
                is licensed or certified;
                    (C) the area or areas in which the professional has 
                specialty or subspecialty training; and
                    (D) a description of the emergency response 
                training received by the professional; and
            (2) the name of each member of the Corps, the Medical 
        Reserve Corps, the National Disaster Medical System, the 
        Commissioned Corps of the Public Health Services, and any other 
        relevant federally-sponsored or administered programs.
    (c) Accessibility.--The Director shall ensure that the database 
established under subsection (a) is electronically accessible by State 
and local health departments. In the case of a disaster or other 
emergency that results in a loss of electrical power, the Director 
shall ensure that the affected State or locality has access to the 
database through other means.
    (d) Updating of Information.--The Director shall, on at least a 
biennial basis, provide for the updating of the information contained 
in the database.

SEC. 404. PROTECTION OF HEALTH PROFESSIONAL VOLUNTEERS.

    Section 4303(13) of title 38, United States Code, is amended by 
adding at the end the following: ``Such term shall include physicians 
or other health professionals (as defined in section 401 of the 
Hurricane Katrina Recovery Act of 2006) who are providing medical 
treatment or services related to a major disaster as declared by the 
President under the authority of the Robert T. Stafford Disaster Relief 
and Emergency Assistance Act (42 U.S.C. 5121 et seq.), including 
members of the National Emergency Health Professionals Volunteer Corps, 
health professionals who are activated by the Federal Emergency 
Management Agency, and other health professionals who provide services 
on a volunteer basis in a formal capacity as determined by the 
Secretary of Health and Human Services or the Secretary of Homeland 
Security. The Secretary shall promulgate guidelines to implement the 
previous sentence''.

SEC. 405. PREPAREDNESS TRAINING REQUIREMENTS.

    (a) Children's Hospitals That Operate Graduate Medical Education 
Programs.--Section 340E of the Public Health Service Act (42 U.S.C. 
256e) is amended by adding at the end the following:
    ``(h) Requirement To Provide Disaster Preparedness Training.--To be 
eligible to receive a payment under this section, a children's hospital 
shall provide disaster preparedness training as part of any approved 
graduate medical residency training program provided by the 
hospital.''.
    (b) Medicare Graduate Medical Education Programs.--
            (1) In general.--Section 1886(h) of the Social Security Act 
        (42 U.S.C. 1395ww(h)) is amended by adding at the end the 
        following:
            ``(8) Requirement for disaster preparedness training.--In 
        order to be eligible to receive a payment under this 
        subsection, a hospital shall provide disaster preparedness 
        training as part of any approved medical residency training 
        program provided by the hospital.''.
            (2) Effective date.--The amendment made by paragraph (1) 
        shall take effect on January 1, 2007.

SEC. 406. LIABILITY PROTECTIONS.

    Section 224 of the Public Health Service Act (42 U.S.C. 233) is 
amended by adding at the end the following:
    ``(q) Volunteer Services Provided by Health Professionals During 
Disasters.--
            ``(1) In general.--Notwithstanding any other provision of 
        law, for purposes of this section, a volunteer health 
        professional, in providing a qualifying health service related 
        to a major disaster as declared by the President under the 
        authority of the Robert T. Stafford Disaster Relief and 
        Emergency Assistance Act (42 U.S.C. 5121 et seq.), shall be 
        deemed to be an employee of the Public Health Service. The 
        preceding sentence is subject to the provisions of this 
        subsection.
            ``(2) Volunteer health professional.--In providing a 
        qualifying health service to an individual, a health 
        professional shall for purposes of this subsection be 
        considered to be a volunteer health professional if the 
        following conditions are met:
                    ``(A) The service is provided to the individual as 
                a result of the occurrence of a major disaster as 
                declared by the President under the authority of the 
                Robert T. Stafford Disaster Relief and Emergency 
                Assistance Act.
                    ``(B) The service is a qualifying health service 
                (as defined in paragraph (3)(B)).
                    ``(C) Neither the health professional or any 
                institution receives any compensation for the service 
                from the individual or from any third-party payor 
                (including reimbursement under any insurance policy or 
                health plan, or under any Federal or State health 
                benefits program). With respect to compliance with such 
                condition, the health professional may receive 
                repayment from a Federal or State agency for reasonable 
                expenses incurred by the health professional in the 
                provision of the service to the individual.
            ``(3) Definitions.--
                    ``(A) Health professional.--In this subsection, the 
                term `health professional' means a physician, nurse, 
                mental health provider, pharmacist, paramedic, and 
                other individual provider as designated by the 
                Secretary.
                    ``(B) Qualifying health service.--In this 
                subsection, the term `qualifying health service' means 
                any medical assistance provided during, and as the 
                result of the occupancy of, a major disaster as 
                declared by the President under the authority of the 
                Robert T. Stafford Disaster Relief and Emergency 
                Assistance Act.
            ``(4) Application of provisions.--Subsection (g) (other 
        than paragraphs (3) through (5)) and subsections (h), (i), and 
        (l) shall apply to a volunteer health professional for purposes 
        of this subsection to the same extent and in the same manner as 
        such subsections apply to an officer, governing board member, 
        employee, or contractor of an entity described in subsection 
        (g)(4), subject to paragraph (5) and subject to the following:
                    ``(A) The first sentence of paragraph (1) applies 
                in lieu of the first sentence of subsection (g)(1)(A).
                    ``(B) In the case of a health professional who is 
                determined by the Secretary pursuant to subsection 
                (g)(1)(E) to be a volunteer health professional, this 
                subsection applies to the health professional (with 
                respect to the institution or facility sponsoring the 
                health professional for any cause of action arising 
                from an act or omission of the health professional 
                occurring on or after the date on which the Secretary 
                makes such determination and until the major disaster 
                involved has ended.
                    ``(C) Subsection (g)(1)(F) applies to a health 
                professional for purposes of this subsection only to 
                the extent that, in providing health services to an 
                individual, each of the conditions specified in 
                paragraph (2) is met.
            ``(5) Authorization of appropriations.--
                    ``(A) In general.--For purposes of making payments 
                for judgments against the United States (together with 
                related fees and expenses of witnesses) pursuant to 
                this section arising from the acts or omissions of 
                volunteer health professionals, there is authorized 
                such sums as may be necessary in each fiscal year.
                    ``(B) Fund.--The Secretary shall establish a fund 
                for purposes of this subsection. Each fiscal year 
                amounts appropriated under subparagraph (A) shall be 
                deposited in such fund.
                    ``(C) Estimates.--Not later than May 1 of each 
                fiscal year, the Attorney General, in consultation with 
                the Secretary, shall submit to the Congress a report 
                providing an estimate of the amount of claims (together 
                with related fees and expenses of witnesses) that, by 
                reason of the acts or omissions of volunteer health 
                professionals, will be paid pursuant to this subsection 
                during the calendar year that begins in the following 
                fiscal year. Subsection (k)(1)(B) applies to the 
                estimate under the preceding sentence regarding 
                volunteer health professionals to the same extent and 
                in the same manner as such subsection applies to the 
                estimate under such subsection regarding officers, 
                governing board members, employees, and contractors of 
                entities described in subsection (g)(4).
                    ``(D) Transfers.--Not later than December 31 of 
                each fiscal year, the Secretary shall transfer from the 
                fund under subparagraph (B) to the appropriate accounts 
                in the Treasury an amount equal to the estimate made 
                under subparagraph (C) for the calendar year beginning 
                in such fiscal year, subject to the extent of amounts 
                in the fund.
            ``(6) Regulations.--The Secretary may issue regulations for 
        carrying out this subsection.''.

SEC. 407. GENERAL WAIVER AUTHORITY.

    Notwithstanding any other provision of law, the Secretary and the 
Secretary of Homeland Security shall have the authority to waive any 
requirement of Federal law applicable to health professions if such 
requirement would limit the ability of health professionals to provide 
volunteer medical services related to a major disaster as declared by 
the President under the authority of the Robert T. Stafford Disaster 
Relief and Emergency Assistance Act (42 U.S.C. 5121 et seq.).

                       TITLE V--HEALTH PROVISIONS

SEC. 501. REPAIR AND DISPARITIES GRANTS.

    (a) Construction and Repair Grants.--The Secretary of Health and 
Human Services (referred to in this section as the ``Secretary'') shall 
make grants to public health facilities and loans to private health 
facilities, for the purpose of constructing, modernizing, or repairing 
hospitals, clinics, health centers, laboratories, and other health 
facilities in a Hurricane Katrina disaster area damaged as a result of 
Hurricane Katrina to--
            (1) construct hospitals, clinics, health centers, 
        laboratories, mental health and substance abuse facilities that 
        meet the standards of the Joint Commission on the Accreditation 
        of Healthcare Organizations (referred to in this title as 
        ``JCAHO'');
            (2) repair or modernize such public or private hospitals or 
        public facilities as provide health care or health related 
        services; and
            (3) bring hospitals and public health facilities in 
        compliance with such JCAHO standards and requirements of the 
        Centers for Medicare & Medicaid Services.
    (b) Health Disparity Grants.--The Secretary, acting through the 
Administrator of the Health and Human Resources Administration and the 
Director of the Office of Minority Health, and in consultation with the 
Director of the Office of Community Services and the Director of the 
National Center for Minority Health and Health Disparities, shall make 
grants to assist individuals, hospitals, businesses, schools, minority 
health associations, nonprofit organizations, community-based 
organizations, healthcare clinics, foundations, and other entities in 
communities in a Hurricane Katrina disaster area and that 
disproportionately experience disparities in health status and 
healthcare which are seeking--
            (1) to improve the health of minority individuals in the 
        community and to reduce disparities in health status and 
        healthcare by assisting individuals in accessing Federal 
        programs or by other means; and
            (2) to coordinate the efforts of governmental and private 
        entities regarding the elimination of racial and ethnic health 
        status and healthcare.
    (c) Application.--
            (1) In general.--To obtain a grant under this section, an 
        applicant shall submit to the Secretary an application in such 
        form and in such manner as the Secretary may require.
            (2) Construction and repair grants.--An application for a 
        grant under subsection (a) shall describe, with such 
        specificity as the Secretary shall require, the damage 
        sustained as a result of Hurricane Katrina and the steps 
        proposed to address the damage.
            (3) Health disparity grants.--An application for a grant 
        under subsection (b) shall demonstrate that the communities to 
        be served are those that disproportionately experience 
        disparities in health status and healthcare and shall set forth 
        a strategic plan for reducing those disparities by--
                    (A) describing the coordinated health, economic, 
                human, community, and physical development plan and 
                related activities proposed for the community;
                    (B) identifying the projected amount of Federal, 
                State, local and private resources that will be 
                available in the area and the private and public 
                partnerships to be used (including any participation by 
                or cooperation with universities, colleges, 
                foundations, nonprofit organizations, medical centers, 
                hospitals, health clinics, school districts, or other 
                private and public entities);
                    (C) identifying the funding requested under any 
                Federal program in support of the proposed activities;
                    (D) identifying benchmarks for measuring the 
                success of carrying out the strategic plan;
                    (E) demonstrating the ability to reach and service 
                the targeted underserved minority community populations 
                in a culturally appropriate and linguistically 
                responsive manner; and
                    (F) demonstrating a capacity and infrastructure to 
                provide long-term community response that is culturally 
                appropriate and linguistically responsive to 
                communities that disproportionately experience 
                disparities in health and healthcare.
    (d) Definition.--In this section, the term ``Hurricane Katrina 
disaster area'' means an area which the President has designated as a 
disaster area as a result of Hurricane Katrina of August 2005.
    (e) Authorization of Appropriations.--There are authorized to be 
appropriated to carry out this section, such sums as may be necessary 
for fiscal years 2006 through 2010, not to exceed $500,000,000.

               TITLE VI--HOUSING AND COMMUNITY REBUILDING

SEC. 601. DEFINITIONS.

    In this title, the following definitions shall apply:
            (1) Affected family.--The term ``affected family'' means a 
        person or household whose primary residence, as of August 28, 
        2005--
                    (A) was located in an area within which the 
                President declared, under the Robert T. Stafford 
                Disaster Assistance and Emergency Relief Act, a major 
                disaster to have occurred pursuant to Hurricane 
                Katrina; and
                    (B) was, as a result of Hurricane Katrina, 
                destroyed or damaged to such an extent that the 
                residence is not habitable.
            (2) Covered property.--The term ``covered property'' means 
        any property that--
                    (A) is designed as a dwelling for occupancy by 1 to 
                4 families;
                    (B) was previously subject to a mortgage insured 
                under the National Housing Act (12 U.S.C. 1701 et 
                seq.); and
                    (C) is owned by the Secretary pursuant to the 
                payment of insurance benefits under such Act.
            (3) Secretary.--The term ``Secretary'' means the Secretary 
        of Housing and Urban Development.

SEC. 602. AFFORDABLE HOUSING FUND.

    (a) In General.--Section 1337 of the Housing and Community 
Development Act of 1992 (12 U.S.C. 4567) is amended to read as follows:

``SEC. 1337. AFFORDABLE HOUSING FUND.

    ``(a) Establishment and Purpose.--
            ``(1) In general.--Each enterprise shall establish and 
        manage an affordable housing fund in accordance with this 
        section.
            ``(2) Purpose.--The purpose of each affordable housing fund 
        established under paragraph (1) shall be--
                    ``(A) to increase home ownership for extremely low- 
                and very low-income families;
                    ``(B) to increase investment in housing in--
                            ``(i) low-income areas, and areas 
                        designated as qualified census tracts; or
                            ``(ii) an area of chronic economic distress 
                        pursuant to section 143(j) of the Internal 
                        Revenue Code of 1986 (26 U.S.C. 143(j));
                    ``(C) to increase and preserve the supply of rental 
                and owner-occupied housing for extremely low- and very 
                low-income families; and
                    ``(D) to increase investment in economic and 
                community development in economically underserved 
                areas.
    ``(b) Allocation of Amounts by Enterprises.--
            ``(1) In general.--In accordance with regulations issued by 
        the Director under subsection (l), and subject to paragraph 
        (2), each enterprise shall allocate to the affordable housing 
        fund of that enterprise--
                    ``(A) in 2006, 3.5 percent of the after-tax income 
                of that enterprise for 2005; and
                    ``(B) in each year after 2006, 5 percent of the 
                after-tax income of that enterprise for the preceding 
                year.
            ``(2) Limitation.--An enterprise shall not be required to 
        make an allocation to the affordable housing fund of that 
        enterprise in any year unless--
                    ``(A) that enterprise is classified by the Director 
                at the time of such allocation as adequately 
                capitalized; and
                    ``(B) that enterprise generated after-tax income 
                for the preceding year.
            ``(3) Determination of after-tax income.--For purposes of 
        this section, the term `after-tax income' means, with respect 
        to an enterprise in any year, the amount reported by that 
        enterprise for such year in the annual report of that 
        enterprise for such year that is filed with the Securities and 
        Exchange Commission, except that for any year in which no such 
        filing is made by that enterprise or such filing is not timely 
        made, such term means the amount determined by the Director 
        based on the income tax return filings of that enterprise.
    ``(c) Selection of Activities Funded Using Affordable Housing Fund 
Amounts.--Amounts from the affordable housing fund of the enterprise 
may be used, or committed for use, only for activities that--
            ``(1) are eligible under subsection (d) for such use; and
            ``(2) are selected for funding by the enterprise in 
        accordance with the process and criteria for such selection 
        established under subsection (l)(2)(C).
    ``(d) Eligible Activities.--Amounts from the affordable housing 
fund of an enterprise shall be eligible for use, or for commitment for 
use, only for assistance for--
            ``(1) the production, preservation, and rehabilitation of 
        rental housing, including housing under the programs identified 
        in section 1335(a)(2)(B), except that amounts provided from any 
        such affordable housing fund may be used for the benefit only 
        of extremely low- and very low-income families;
            ``(2) the production, preservation, and rehabilitation of 
        housing for home ownership, including such forms as downpayment 
        assistance, closing cost assistance, and assistance for 
        interest-rate buy-downs, that--
                    ``(A) is available for purchase only for use as a 
                principal residence by families that qualify both as--
                            ``(i) extremely low- and very-low income 
                        families at the times described in 
                        subparagraphs (A) through (C) of section 
                        215(b)(2) of the Cranston-Gonzalez National 
                        Affordable Housing Act (42 U.S.C. 12745(b)(2)); 
                        and
                            ``(ii) first-time homebuyers, as such term 
                        is defined in section 104 of the Cranston-
                        Gonzalez National Affordable Housing Act (42 
                        U.S.C. 12704), except that any reference in 
                        such section to assistance under title II of 
                        such Act shall for purposes of this section be 
                        considered to refer to assistance from the 
                        affordable housing fund of the enterprise;
                    ``(B) has an initial purchase price that meets the 
                requirements of section 215(b)(1) of the Cranston-
                Gonzalez National Affordable Housing Act; and
                    ``(C) is subject to the same resale restrictions 
                established under section 215(b)(3) of the Cranston-
                Gonzalez National Affordable Housing Act and applicable 
                to the participating jurisdiction that is the State in 
                which such housing is located; and
            ``(3) leveraged grants under subsection (e).
    ``(e) Leveraged Grants.--
            ``(1) In general.--Pursuant to regulations issued by the 
        Director, each enterprise shall carry out a program under this 
        subsection to make leveraged grants from amounts in the 
        affordable housing fund of that enterprise, subject to the 
        requirements under this subsection.
            ``(2) Eligible purposes.--Amounts from the affordable 
        housing fund of an enterprise for a leveraged grant may be used 
        only for--
                    ``(A) the development, preservation, 
                rehabilitation, or purchase of affordable housing that 
                meets underserved needs for affordable housing;
                    ``(B) community or economic development activities 
                in economically underserved areas; or
                    ``(C) a combination of the activities identified in 
                subparagraphs (A) and (B).
            ``(3) Eligible sponsors.--
                    ``(A) In general.--A leveraged grant under this 
                subsection may be made only on behalf of an eligible 
                sponsor that meets such requirements as the Director 
                shall establish for experience and success in carrying 
                out the types of activities proposed under the 
                application of such eligible sponsor.
                    ``(B) Definition.--For purposes of this section the 
                term `eligible sponsor' includes the following 
                entities:
                            ``(i) A low-income housing fund.
                            ``(ii) A housing finance agency of a State 
                        or unit of general local government.
                            ``(iii) A nonprofit organization having as 
                        one of its principal purposes the development 
                        or management of affordable housing.
                            ``(iv) A community development financial 
                        institution.
                            ``(v) A national nonprofit housing 
                        intermediary.
                            ``(vi) A community development corporation.
                            ``(vii) A community development entity.
            ``(4) Eligible uses.--Amounts from the affordable housing 
        fund of an enterprise may be used under this subsection only 
        for the following types of leveraged grants:
                    ``(A) To provide loan loss reserves.
                    ``(B) To capitalize a revolving loan fund.
                    ``(C) To provide equity capitalization of an 
                affordable housing fund.
                    ``(D) To provide equity capitalization of a 
                community development or economic development fund.
                    ``(E) For risk-sharing loans.
                    ``(F) For the funding of a specific, detailed 
                investment plan that identifies the specific types of 
                uses and the expected timeframes with respect to such 
                uses.
            ``(5) Applications.--
                    ``(A) In general.--The Director shall provide, in 
                the application process established under subsection 
                (l)(2)(C), for an eligible sponsor under paragraph (3), 
                to submit an application to an enterprise for a 
                leveraged grant under this subsection.
                    ``(B) Content of application.--Each application 
                required under subparagraph (A) shall include a 
                detailed description of--
                            ``(i) the types of affordable housing or 
                        community or economic development activities 
                        for which the leveraged grant is made;
                            ``(ii) the type of eligible leveraged 
                        grants under paragraph (4) to be made in the 
                        project;
                            ``(iii) the types, sources, and amounts of 
                        other funding for the project; and
                            ``(iv) the expected timeframe of the 
                        leveraged grant.
            ``(6) Limitations.--The Director shall by regulation ensure 
        that--
                    ``(A) a leveraged grant under this subsection is 
                designed--
                            ``(i) to alleviate the need for affordable 
                        housing in underserved markets, as identified 
                        in section 1335(a) as having the greatest need 
                        for such housing; or
                            ``(ii) to address community and economic 
                        development needs in economically underserved 
                        areas having the greatest need; and
                    ``(B) ensure that any returns from a leveraged 
                grant--
                            ``(i) accrue to the affordable housing fund 
                        of the enterprise; and
                            ``(ii) are available for use only as 
                        provided under this section.
    ``(f) Limitations on Use.--
            ``(1) Amounts for home ownership.--Of any amounts allocated 
        pursuant to subsection (b) in each year to the affordable 
        housing fund of an enterprise, not less than 10 percent shall 
        be used for activities under subsection (d)(2).
            ``(2) Amounts for leveraged grants.--Of any amounts 
        allocated pursuant to subsection (b) in each year to the 
        affordable housing fund of an enterprise, not more than 12.5 
        percent shall be used for leveraged grants under subsection 
        (e).
            ``(3) Deadline for commitment or use.--Any amounts 
        allocated to the affordable housing fund of an enterprise shall 
        be used or committed for use within 2 years of the date of such 
        allocation.
            ``(4) Use of returns.--Any return on investment of any 
        amounts allocated pursuant to subsection (b) to the affordable 
        housing fund of an enterprise shall be available for use by 
        that enterprise only for eligible activities under subsection 
        (d).
            ``(5) Administrative costs.--The Director shall, by 
        regulation--
                    ``(A) provide that, except as provided in 
                subparagraph (B), amounts allocated to the affordable 
                housing fund of an enterprise may not be used for 
                administrative, outreach, or other costs of--
                            ``(i) that enterprise; or
                            ``(ii) any recipient of amounts from the 
                        affordable housing fund; and
                    ``(B) limit the amount of any such contributions 
                that may be used for administrative costs of that 
                enterprise of--
                            ``(i) maintaining the affordable housing 
                        fund of that enterprise; and
                            ``(ii) carrying out the program under this 
                        section.
            ``(6) Prohibition of consideration of use for meeting 
        housing goals.--
                    ``(A) In general.--In determining compliance with 
                the housing goals under this section, the Director may 
                not consider amounts used under this section for 
                eligible activities under subsection (d).
                    ``(B) Credit for purchases of mortgages.--The 
                Director shall give credit toward the achievement of 
                the housing goals under this section to purchases of 
                mortgages for housing that receives funding under this 
                section, but only to the extent that such purchases are 
                funded other than under this section.
            ``(7) Prohibition of certain subgrants.--The Director 
        shall, by regulation, ensure that amounts from the affordable 
        housing fund of an enterprise awarded under this section to a 
        national nonprofit housing intermediary are not used for the 
        purpose of distributing subgrants to other nonprofit entities.
    ``(g) Consistency of Use With Housing Needs.--
            ``(1) Quarterly reports.--
                    ``(A) In general.--The Director shall require each 
                enterprise to submit a report, on a quarterly basis, to 
                the Director and the affordable housing board 
                established under subsection (j) describing the 
                activities funded under this section during such 
                quarter with amounts from the affordable housing fund 
                of the enterprise established under this section.
                    ``(B) Public availability.--The Director shall make 
                each report submitted under subparagraph (A) publicly 
                available.
                    ``(C) Review by affordable housing board.--The 
                affordable housing board shall review each report by an 
                enterprise to determine the consistency of the 
                activities funded under this section with the criteria 
                for selection of such activities established under 
                subsection (l)(2)(C).
            ``(2) Replenishment.--If the affordable housing board 
        determines that an activity funded by an enterprise with 
        amounts from the affordable housing fund of that enterprise is 
        not consistent with the criteria established under subsection 
        (l)(2)(C)--
                    ``(A) the affordable housing board shall notify the 
                Director; and
                    ``(B) the Director shall require the enterprise to 
                allocate to such affordable housing fund (in addition 
                to amounts allocated in compliance with subsection (b)) 
                an amount equal to the sum of the amounts from the 
                affordable housing fund used and further committed for 
                use for such activity.
    ``(h) Capital Requirements.--The utilization or commitment of 
amounts from the affordable housing fund of an enterprise shall not be 
subject to the risk-based capital requirements established under 
section 1361(a).
    ``(i) Reporting Requirement.--Each enterprise shall include, in the 
report required under section 309(m) of the Federal National Mortgage 
Association Charter Act or section 307(f) of the Federal Home Loan 
Mortgage Corporation Act, as applicable, a description of the actions 
taken by the enterprise to utilize or commit amounts allocated under 
this section to the affordable housing fund of the enterprise 
established under this section.
    ``(j) Affordable Housing Board.--
            ``(1) Appointment.--
                    ``(A) In general.--The Director shall appoint an 
                affordable housing board of 7, 9, or 11 persons.
                    ``(B) Membership.--The affordable housing board 
                established under this section shall include--
                            ``(i) the Director, or the Director's 
                        designee;
                            ``(ii) the Secretary of Housing and Urban 
                        Development, or the Secretary's designee;
                            ``(iii) the Secretary of Agriculture, or 
                        the Secretary's designee;
                            ``(iv) 2 persons from for-profit 
                        organizations or businesses actively involved 
                        in providing or promoting affordable housing 
                        for extremely low- and very low-income 
                        households; and
                            ``(v) 2 persons from nonprofit 
                        organizations actively involved in providing or 
                        promoting affordable housing for extremely low- 
                        and very low-income households.
            ``(2) Terms.--
                    ``(A) In general.--Except as provided in 
                subparagraph (B), the term of each member of the 
                affordable housing board appointed under paragraph (1) 
                (but not including members appointed under clauses (i), 
                (ii), and (iii)) shall be 3 years.
                    ``(B) Initial appointees.--
                            ``(i) In general.--The Director shall 
                        appoint the initial members of the affordable 
                        housing board not later than the expiration of 
                        the 60-day period beginning on the date of the 
                        enactment of the Hurricane Katrina Recovery Act 
                        of 2006.
                            ``(ii) Board size.--As designated by the 
                        Director at the time of appointment, of the 
                        members of the affordable housing board first 
                        appointed under paragraph (1) (but not 
                        including members appointed under clauses (i), 
                        (ii), and (iii))--
                                    ``(I) in the case of a board having 
                                7 members--
                                            ``(aa) 1 shall be appointed 
                                        for a term of 1 year; and
                                            ``(bb) 1 shall be appointed 
                                        for a term of 2 years;
                                    ``(II) in the case of a board 
                                having 9 members--
                                            ``(aa) 2 shall be appointed 
                                        for a term of 1 year; and
                                            ``(bb) 2 shall be appointed 
                                        for a term of 2 years; and
                                    ``(III) in the case of a board 
                                having 11 members--
                                            ``(aa) 2 shall be appointed 
                                        for a term of 1 year; and
                                            ``(bb) 3 shall be appointed 
                                        for a term of 2 years.
            ``(3) Duties.--The affordable housing board shall meet not 
        less than quarterly--
                    ``(A) to determine extremely low- and very low-
                income housing needs;
                    ``(B) to advise the Director with respect to--
                            ``(i) establishment of the selection 
                        criteria under subsection (l)(2)(C) that 
                        provide for appropriate use of amounts from an 
                        affordable housing fund of an enterprise to 
                        meet such needs; and
                            ``(ii) operation of, and changes to, the 
                        program under this section appropriate to meet 
                        such needs; and
                    ``(C) to review the reports submitted by an 
                enterprise under subsection (g)(1)--
                            ``(i) to determine whether the activities 
                        funded using amounts from the affordable 
                        housing funds of the enterprises comply with 
                        the regulations issued under subsection 
                        (l)(2)(C); and
                            ``(ii) to inform the Director of such 
                        determinations, for purposes of subsection 
                        (g)(2).
            ``(4) Expenses and per diem.--Members of the board shall 
        receive travel expenses, including per diem in lieu of 
        subsistence, in accordance with sections 5702 and 5703 of title 
        5, United States Code.
            ``(5) Advisory committee.--The board shall be considered an 
        advisory committee for purposes of the Federal Advisory 
        Committee Act (5 U.S.C. App.).
            ``(6) Duration.--The board shall have continued existence 
        until terminated by law.
    ``(k) Definition.--For purposes of this section, the term 
`economically underserved area' means an area that predominantly 
includes census tracts for which--
            ``(1) at least 20 percent of the population is below the 
        poverty line (as such term is defined in section 673(2) of the 
        Omnibus Budget Reconciliation Act of 1981 (42 U.S.C. 9902(2)), 
        including any revision required by such section), applicable to 
        a family of the size involved; or
            ``(2) median family income does not exceed the greater of--
                    ``(A) 80 percent of the median family income for 
                the metropolitan statistical area in which such census 
                tracts are located; or
                    ``(B) 80 percent of the median family income for 
                the State in which such census tracts are located.
    ``(l) Regulations.--
            ``(1) In general.--The Director shall issue regulations to 
        carry out this section.
            ``(2) Required contents.--The regulations issued under this 
        subsection shall include--
                    ``(A) authority for the Director to audit, provide 
                for an audit, or otherwise verify the activities of an 
                enterprise, to ensure compliance with this section;
                    ``(B) a requirement that the Director ensure that 
                the affordable housing fund of each enterprise is 
                audited not less than annually to ensure compliance 
                with this section;
                    ``(C) requirements for a process for application 
                to, and selection by, an enterprise for activities to 
                be funded with amounts from the affordable housing fund 
                of that enterprise, which shall provide that--
                            ``(i) selection shall based upon specific 
                        criteria, including a prioritization of funding 
                        based upon--
                                    ``(I) greatest impact;
                                    ``(II) geographic diversity;
                                    ``(III) ability to obligate amounts 
                                and undertake activities so funded in a 
                                timely manner;
                                    ``(IV) in the case of rental 
                                housing projects under subsection 
                                (d)(1), the extent to which rents for 
                                units in the project funded are 
                                affordable, especially for extremely 
                                low-income families; and
                                    ``(V) in the case of rental housing 
                                projects under subsection (d)(1), the 
                                extent of the duration for which such 
                                rents will remain affordable; and
                            ``(ii) an enterprise may not--
                                    ``(I) require for such selection 
                                that an activity involve financing or 
                                underwriting of any kind by the 
                                enterprise (other than funding through 
                                the affordable housing fund of the 
                                enterprise); and
                                    ``(II) give preference in such 
                                selection to activities that involve 
                                such financing; and
                    ``(D) requirements to ensure that amounts from the 
                affordable housing fund of an enterprise used for 
                rental housing under subsection (d)(1) are used only 
                for the benefit of extremely low- and very-low income 
                families.
            ``(3) Limitation.--Any regulations issued by the Director 
        pursuant to this section shall be no more restrictive on the 
        activities of the enterprise in connection with the allocation 
        of after-tax income under this section than the regulations 
        issued to implement the Affordable Housing Program of the 
        Federal Home Loan Banks pursuant to section 10(j) of the 
        Federal Home Loan Bank Act (12 U.S.C. 1430(j)).''.
    (b) Conforming Amendment.--The Housing and Community Development 
Act of 1992 (12 U.S.C. 4562 et seq.) is amended by striking section 
1338.

SEC. 603. PUBLIC HOUSING CAPITAL FUND RESERVES FOR EMERGENCIES AND 
              NATURAL DISASTERS.

    (a) Availability of Funds Set-Aside in Previous Years.--
Notwithstanding any other provision of law, any amounts set-aside in 
fiscal years 2003, 2004, and 2005, for use under section 9(k) of the 
United States Housing Act of 1937 (42 U.S.C. 1437g(k)) and remaining 
unobligated on the date of the enactment of this Act shall be available 
for use under such section (not including paragraph (4) of such 
section) for emergencies and other disasters occurring in fiscal year 
2005, and shall remain available until expended.
    (b) Authorization of Appropriations.--
            (1) In general.--In addition to any other amounts 
        authorized to be appropriated under any other provision of law, 
        there is authorized to be appropriated for fiscal year 2006, 
        for use under section 9(k) of the United States Housing Act of 
        1937 (42 U.S.C. 1437g(k)), $100,000,000, to remain available 
        until expended.
            (2) Limitation on use.--Any amounts made available under 
        paragraph (1) shall be used only for activities conducted in 
        any area for which the President declared a major disaster or 
        emergency under title IV of the Robert T. Stafford Disaster 
        Relief and Emergency Assistance Act in connection with 
        Hurricane Katrina.

SEC. 604. COMMUNITY DEVELOPMENT BLOCK GRANT ASSISTANCE.

    (a) Authorization of Appropriations.--In addition to any other 
amounts authorized to be appropriated under any other provision of law, 
there is authorized to be appropriated for fiscal year 2006, for 
activities authorized under title I of the Housing and Community 
Development Act of 1974 (42 U.S.C. 5301 et seq.), $250,000,000, to 
remain available until expended.
    (b) Limitation on Use.--
            (1) In general.--Any amounts made available under 
        subsection (a) shall be used only for disaster relief, long-
        term recovery, and mitigation in communities in any area for 
        which the President declared a major disaster or emergency 
        under title IV of the Robert T. Stafford Disaster Relief and 
        Emergency Assistance Act in connection with Hurricane Katrina, 
        except those activities reimbursable by the Federal Emergency 
        Management Agency or available through the Small Business 
        Administration.
            (2) Projects in progress.--In the case of any project or 
        activity in an area described in paragraph (1) that was 
        underway before the Presidential declaration with respect to 
        such area, the project or activity may not be provided any 
        amounts made available under this section unless the disaster 
        or emergency for which such declaration was made, directly 
        impacted the project.
    (c) Allocation.--
            (1) In general.--Subject to subsection (d), any amounts 
        made available under subsection (a) shall be awarded by the 
        Secretary to States (including Indian tribes for all purposes 
        under this section) to be administered by each State in 
        conjunction with its Community Development Block Grants 
        program.
            (2) Entitlement community eligibility.--Notwithstanding 
        paragraph (2) of section 106(d) of the Housing and Community 
        Development Act of 1974 (42 U.S.C. 5306(d)), States may provide 
        assistance with amounts made, available under this section to 
        entitlement communities.
    (d) Supplementation Requirement.--Each State shall provide not less 
than 10 percent in non-Federal public matching funds or its equivalent 
value (other than administrative costs) for any funds allocated to that 
State under this section.
    (e) Waiver.--
            (1) Authority of secretary.--
                    (A) In general.--In administering any amounts made 
                available under this section, the Secretary may waive, 
                or specify alternative requirements for, any provision 
                of any statute or regulation that the Secretary 
                administers in connection with the obligation by the 
                Secretary or the use by the recipient of such amounts 
                (except for requirements related to fair housing, 
                nondiscrimination, labor standards, and the 
                environment), upon a finding that such waiver is 
                required to facilitate the use of such amounts, and 
                would not be inconsistent with the overall purpose of 
                the statute.
                    (B) Activities benefitting persons of low- and 
                moderate-income.--The Secretary may waive any 
                requirements that activities benefit persons of low- 
                and moderate-income, except that at least 50 percent of 
                the amounts made available under this section shall 
                benefit primarily persons of low- and moderate-income 
                unless the Secretary makes a finding of compelling 
                need.
            (2) Publication.--The Secretary shall publish in the 
        Federal Register any waiver of any statute or regulation 
        authorized under this section not later than 5 days before the 
        effective date of such waiver.

SEC. 605. CDBG LOAN GUARANTEE PROGRAM.

    (a) Authorization of Appropriations.--In addition to any other 
amounts authorized to be appropriated under any other provision of law, 
there is authorized to be appropriated for fiscal year 2006, for costs 
(as such term is defined in section 502 of the Federal Credit Reform 
Act of 1990 (2 U.S.C. 661a) of guarantees under section 108 of the 
Housing and Community Development Act of 1974 (42 U.S.C. 5308), 
$10,000,000, to remain available until expended.
    (b) Limitation on Use.--Any amounts made available under subsection 
(a) shall be used only for guarantees for obligations of an eligible 
public entity (as such term is defined in section 108(o) of the Housing 
and Community Development Act of 1974 (42 U.S.C. 5308(o))) for 
financing activities conducted in any area for which the President 
declared a major disaster or emergency under title IV of the Robert T. 
Stafford Disaster Relief and Emergency Assistance Act in connection 
with Hurricane Katrina.

SEC. 606. CAPACITY BUILDING FOR COMMUNITY DEVELOPMENT AND AFFORDABLE 
              HOUSING.

    (a) Authorization of Appropriations.--In addition to any other 
amounts authorized to be appropriated under any other provision of law, 
there is authorized to be appropriated for fiscal year 2006, to carry 
out part 4 of the HUD Demonstration Act of 1993 (42 U.S.C. 9814 et 
seq.), $4,500,000, to remain available until expended.
    (b) Limitations on Use.--Any amounts made available under 
subsection (a) shall be used only for capacity-building activities for 
community development corporations or community housing development 
organizations undertaking community development or affordable housing 
activities in any area for which the President declared a major 
disaster or emergency under title IV of the Robert T. Stafford Disaster 
Relief and Emergency Assistance Act in connection with Hurricane 
Katrina.

SEC. 607. PROHIBITION OF PLACEMENT OF FAMILIES IN SUBSTANDARD DWELLING 
              UNITS.

    Notwithstanding any other provision of law, no financial assistance 
may be provided in any form by any agency of the Federal Government to 
provide a temporary or permanent residence for an affected family 
that--
            (1) is uninhabitable; or
            (2) that does not comply with the housing quality standards 
        established under section 8(o)(8)(B) of the United States 
        Housing Act of 1937 (42 U.S.C. 1437f(o)(8)(B)).

SEC. 608. FAIR HOUSING ENFORCEMENT.

    (a) Authorization of Appropriations.--In addition to any other 
amounts authorized to be appropriated under any other provision of law, 
there is authorized to be appropriated for fiscal year 2006, 
$10,000,000 for activities under section 561 of the Housing and 
Community Development Act of 1987 (42 U.S.C. 3616a).
    (b) Limitations on Use.--Any amounts made available under 
subsection (a) shall be used for activities under section 561 of the 
Housing and Community Development Act of 1987 (42 U.S.C. 3616a) carried 
out in--
            (1) States affected by Hurricane Katrina; or
            (2) States that the Secretary determines have a substantial 
        number of persons who relocated to such State as a result of 
        displacement caused by such Hurricane.
    (c) Eligible Activities.--Amounts made available under subsection 
(a) may be used by the Secretary for costs to the Department of Housing 
and Urban Development of hiring and training individuals who are 
members of affected families, or who are unemployed as a result of the 
elimination of a previous employment position due to Hurricane Katrina, 
to serve in regional offices of the Department located in States 
described in subsection (b) and conduct activities under section 561 of 
the Housing and Community Development Act of 1987 (42 U.S.C. 3616a).

SEC. 609. HOUSING COUNSELING FOR FAMILIES IN TEMPORARY SHELTERS.

    (a) Authorization of Appropriations.--In addition to any other 
amounts authorized to be appropriated under any other provision of law, 
there is authorized to be appropriated for fiscal year 2006, 
$10,000,000 for assistance under section 106 of the Housing and Urban 
Development Act of 1968 (12 U.S.C. 1701x).
    (b) Limitation on Use.--Any amounts made available under subsection 
(a) shall be used for activities under section 106 of the Housing and 
Urban Development Act of 1968 (12 U.S.C. 1701x) to assist affected 
families living in temporary shelters or other temporary housing 
situations to obtain a permanent residence.

SEC. 610. AVAILABILITY OF HUD INVENTORY PROPERTIES.

    (a) In General.--Notwithstanding any other provision of law, the 
Secretary shall make covered properties available for occupancy by 
affected families, as provided in this section.
    (b) Six-Month Reservation for Use Only by Affected Families.--
            (1) Requirement to offer only to affected families.--During 
        the 6-month period beginning on the date of the enactment of 
        this Act, the Secretary may not dispose of any covered property 
        under any provision of law other than this Act and may not 
        offer, or enter into any agreement for disposition of, a 
        covered property under any other such provision.
            (2) Request and occupancy.--If, during the period referred 
        to in paragraph (1), an affected family makes a request in such 
        form as the Secretary may require, to occupy a covered 
        property, the Secretary shall, in accordance with the selection 
        criteria established under subsection (d), make the covered 
        property available to that affected family for occupancy in 
        accordance with the terms under subsection (e).
    (c) Continued Availability.--
            (1) Availability for affected families.--During the 18-
        month period that begins upon the conclusion of the period 
        under subsection (b)(1), the Secretary shall offer each covered 
        property for occupancy by affected families, but, except as 
        provided in paragraph (2), may--
                    (A) dispose of covered properties under other 
                applicable provisions of law; and
                    (B) offer and enter into agreements for disposition 
                of covered properties under such other provisions.
            (2) Request and occupancy.--If, during the period referred 
        to in paragraph (1), an affected family makes a request, in 
        such form as the Secretary may require, to occupy a covered 
        property for which the Secretary has not entered into any 
        agreement for disposition under any other provision of law, the 
        Secretary shall, in accordance with the selection criteria 
        established under subsection (d), make the covered property 
        available to that affected family for occupancy in accordance 
        with the terms under subsection (e).
    (d) Selection Criteria.--
            (1) In general.--The Secretary shall establish criteria to 
        select an affected family to occupy a covered property for 
        which more than 1 family has submitted such a request.
            (2) Preference.--The criteria established under paragraph 
        (1) shall provide preference for affected families having 
        incomes not exceeding the median income for the area in which 
        the primary residence of that affected family was located.
    (e) Occupancy Terms.--
            (1) In general.--Occupancy in a covered property under this 
        section shall be subject to the following terms:
                    (A) Five years rent-free.--The affected family may 
                reside in the property under the terms of a lease (or 
                renewable leases) which shall provide for rent-free 
                occupancy, but which in no case may extend beyond the 
                expiration of the 5-year period beginning upon initial 
                occupancy of the property by that family.
                    (B) Option to purchase.--At any time during the 
                occupancy of a covered property by an affected family 
                under subparagraph (A), such affected family may 
                purchase the property from the Secretary at price equal 
                to the lesser of--
                            (i) the fair market value of the property 
                        as of the time of initial occupancy by such 
                        family, as determined by the Secretary; or
                            (ii) the fair market value of the property 
                        as of the time of such purchase, as determined 
                        by the Secretary, less the cost of any repairs 
                        or improvements made by the family during 
                        occupancy of such property.
            (2) Notification.--The Secretary shall periodically inform 
        each affected family occupying a covered property of the 
        availability of the property for purchase under this 
        subsection.
    (f) Outreach.--The Secretary shall take such actions as may be 
appropriate to inform affected families of the availability of covered 
properties under this section.

SEC. 611. EQUITABLE DISTRIBUTION OF AFFORDABLE HOME PROGRAM FUNDS.

    The Secretary shall take such actions as may be appropriate to 
ensure that not less than 20 percent of the dwelling units receiving 
funds under title II of the Cranston-Gonzalez National Affordable 
Housing Act (42 U.S.C. 12701 et seq.) located in any area for which the 
President declared a major disaster or emergency under title IV of the 
Robert T. Stafford Disaster Relief and Emergency Assistance Act in 
connection with Hurricane Katrina, shall be made affordable to 
households with incomes below the poverty line, as such line is 
published in the Federal Register by the Department of Health and Human 
Services under the authority of section 673(2) of the Community 
Services Block Grant Act (42 U.S.C. 9902(2)).

                TITLE VII--FINANCIAL SERVICES PROVISIONS

SEC. 701. DEFINITIONS.

    Except as otherwise specified, in this title--
            (1) the terms ``appropriate Federal banking agency'' and 
        ``Federal banking agencies'' have the same meanings as in 
        section 3 of the Federal Deposit Insurance Act;
            (2) the term ``automated teller machine operator'' has the 
        same meaning as in section 904 of the Electronic Fund Transfer 
        Act;
            (3) the term ``Board'' means the Board of Governors of the 
        Federal Reserve System;
            (4) the term ``consumer adversely affected by Hurricane 
        Katrina'' means an individual residing in, or whose business 
        was located within, a qualified disaster area on August 28, 
        2005, who was displaced or otherwise adversely affected by 
        Hurricane Katrina of 2005;
            (5) the terms ``creditor''has the same meaning as in 
        section 103 of the Truth in Lending Act;
            (6) the term ``insured credit union'' has the same meaning 
        as in section 101 of the Federal Credit Union Act;
            (7) the term ``insured depository institution'' has the 
        same meaning as in section 3 of the Federal Deposit Insurance 
        Act; and
            (8) the term ``qualified disaster area'' means any area 
        within Alabama, Louisiana, or Mississippi in which the 
        President, pursuant to section 401 of the Robert T. Stafford 
        Disaster Relief and Emergency Assistance Act, has determined, 
        in August 2005 that a major disaster exists due to Hurricane 
        Katrina.

SEC. 702. HURRICANE KATRINA REGULATORY RELIEF.

    (a) Written Guidance and Forbearance Policy.--The Federal banking 
agencies and the National Credit Union Administration shall--
            (1) provide written guidance for insured depository 
        institutions and insured credit unions in implementing the 
        voluntary actions described in subsection (b), and any other 
        permissible forbearance, to ensure that such insured depository 
        institutions are not negatively impacted by acting in 
        accordance with the intention of Congress; and
            (2) take such forbearance policy into consideration as they 
        examine or audit the financial status of insured depository 
        institutions and insured credit unions.
    (b) Voluntary Policy to Provide Relief for Consumers Affected by 
Hurricane Katrina.--It is the sense of Congress that--
            (1) a voluntary moratorium on the payment of both principal 
        and interest, by those who are not in a position to pay, on 
        unsecured loans and other extensions of credit made or 
        extended, on or before August 28, 2005, including small 
        business and consumer loans, should be established by creditors 
        for a 1-year period beginning on August 28, 2005, with respect 
        to any consumer adversely affected by Hurricane Katrina;
            (2) creditors should refrain from negative reporting under 
        the Fair Credit Reporting Act with respect to any loans 
        described in paragraph (1) to any consumer reporting agency 
        during the 1-year period described in that paragraph;
            (3) during the 1-year period beginning on the date of 
        enactment of this Act--
                    (A) all automated teller machine operators should 
                waive any fees or surcharges for use of such machines 
                by any consumer adversely affected by Hurricane 
                Katrina, and who is not customers of such operators; 
                and
                    (B) all insured depository institutions and insured 
                credit unions should waive any fees or surcharges on 
                any consumer adversely affected by Hurricane Katrina 
                who is a customer of any such insured depository 
                institution or credit union for use by the customers of 
                automated teller machines that are not operated by the 
                insured depository institution or credit union;
            (4) during the 1-year period beginning on the date of 
        enactment of this Act, it is vital that insured insured 
        depository institutions and insured credit unions continue to 
        provide financial services to consumers displaced or otherwise 
        adversely affected by Hurricane Katrina, which includes the 
        cashing of Federal Government assistance and benefit checks;
            (5) during the 1-year period beginning on the date of 
        enactment of this Act, insured depository institutions and 
        insured credit unions should voluntarily waive any limitation 
        on the availability of funds deposited by any consumer 
        adversely affected by Hurricane Katrina, in the form of 
        insurance claim checks that is otherwise authorized to be 
        imposed under the Expedited Funds Availability Act; and
            (6) all creditors should waive any fees for late periodic 
        payments on any outstanding balance in any credit card account 
        under an open end consumer credit plan (as such terms are 
        defined in the Truth in Lending Act) when a consumer adversely 
        affected by Hurricane Katrina proffers evidence that the late 
        payment was due to--
                    (A) an interruption of mail with respect to the 
                payment itself or the receipt by the consumer of a 
                billing statement due to Hurricane Katrina; or
                    (B) the inability of the consumer to access funds 
                on deposit in any insured depository institution or 
                insured credit union due to Hurricane Katrina.

SEC. 703. FLEXIBILITY IN CAPITAL AND NET WORTH STANDARDS FOR SMALL 
              AFFECTED INSTITUTIONS.

    (a) In General.--Notwithstanding section 38 of the Federal Deposit 
Insurance Act, section 216 of the Federal Credit Union Act, or any 
other provision of Federal law, during the 5-year period beginning on 
the date of enactment of this Act, the appropriate Federal banking 
agency and the National Credit Union Administration may forbear from 
taking any action required under any such section or provision, on a 
case-by-case basis, with respect to any undercapitalized insured 
depository institution or undercapitalized insured credit union that is 
not significantly or critically undercapitalized, if such agency or 
Administration determines that--
            (1) the insured depository institution or insured credit 
        union maintains its principal place of business within a 
        qualified disaster area;
            (2) the total assets of the insured depository institution 
        or insured credit union as of August 28, 2005, was less than 
        $500,000,000;
            (3) the insured depository institution or insured credit 
        union derives more than 50 percent of its total deposits from 
        persons who normally reside within, or whose principal place of 
        business is normally within, a qualified disaster area;
            (4) the insured depository institution or insured credit 
        union was adequately or well capitalized as of August 28, 2005;
            (5) the reduction in the capital or net worth category of 
        the insured depository institution or insured credit union is a 
        direct result of Hurricane Katrina; and
            (6) forbearance from any such action--
                    (A) would facilitate the recovery of the insured 
                depository institution or insured credit union from the 
                disaster, in accordance with a recovery plan or a 
                capital or net worth restoration plan established by 
                such depository institution or credit union; and
                    (B) would be consistent with safe and sound 
                practices.
    (b) Capital and Net Worth Categories Defined.--For purposes of this 
section, the terms relating to capital categories for insured 
depository institutions have the same meaning as in section 38(b)(1) of 
the Federal Deposit Insurance Act and the terms relating to net worth 
categories for insured credit unions have the same meaning as in 
section 216(c)(1) of the Federal Credit Union Act.

SEC. 704. WAIVER OF CERTAIN LIMITATION ON CERTAIN BANK INVESTMENTS TO 
              PROMOTE THE PUBLIC WELFARE.

    (a) National Banks.--Investments described in the first sentence of 
the paragraph designated ``Eleventh'' of section 5136 of the Revised 
Statutes of the United States (12 U.S.C. 24) that are made by a 
national bank in a qualified disaster area shall not be taken into 
account for purposes of any limitations contained in such paragraph on 
the aggregate amount of such investments.
    (b) State Banks.--Investments described in the first sentence of 
the 23rd undesignated paragraph of section 9 of the Federal Reserve Act 
(12 U.S.C. 338) that are made by a State member bank in a qualified 
disaster area shall not be taken into account for purposes of any 
limitations contained in such paragraph on the aggregate amount of such 
investments.

SEC. 705. EMERGENCY AUTHORITY TO GUARANTEE CHECKS CASHED FOR VICTIMS OF 
              HURRICANE KATRINA.

    (a) FDIC.--
            (1) In general.--Subject to subsection (d), the Federal 
        Deposit Insurance Corporation (in this section referred to as 
        the ``Corporation'') shall establish, in accordance with 
        emergency guidance issued by the Board under subsection (d)(1), 
        an emergency program under which an insured depository 
        institution may obtain, subject to subsection (d)(2), a 
        commitment from the Corporation to indemnify the insured 
        depository institution for any loss suffered by the institution 
        through cashing a check or share draft that--
                    (A) is presented for payment by any individual who, 
                as of August 28, 2005, resided in a qualified disaster 
                area; and
                    (B) is subsequently uncollectible.
            (2) Limitation.--Payments under paragraph (1) may not 
        exceed $2,000 for each such check or share draft.
            (3) Source of funds for payments.--Any payments required to 
        be made by the Corporation pursuant to a commitment under 
        paragraph (1) to an insured depository institution shall be 
        drawn from funds available for such purposes under subsection 
        (c).
    (b) NCUA.--
            (1) In general.--Subject to subsection (d), the National 
        Credit Union Administration (in this section referred to as the 
        ``Administration'') shall establish, in accordance with 
        emergency guidance issued by the Board under subsection (d)(1), 
        an emergency program under which an insured credit union may 
        obtain, subject to subsection (d)(2), a commitment from the 
        Administration to indemnify the insured credit union for any 
        loss suffered by the credit union through cashing a share draft 
        or check that--
                    (A) is presented for payment by any individual who, 
                as of August 28, 2005, resided in a qualified disaster 
                area; and
                    (B) is subsequently uncollectible.
            (2) Limitation.--Payments under paragraph (1) may not 
        exceed $2,000 for each such check or share draft.
            (3) Source of funds for payments.--Any payments required to 
        be made by the National Credit Union Administration pursuant to 
        a commitment under paragraph (1) to an insured credit union 
        shall be drawn from funds available for such purposes under 
        subsection (c).
            (4) Limited extension of check cashing services.--
        Notwithstanding any limitation in section 107(12) of the 
        Federal Credit Union Act with regard to field of membership, an 
        insured credit union may cash any check presented for payment 
        by any individual described in paragraph (1)(A).
    (c) Reimbursement From Federal Reserve Surpluses.--Section 7(b) of 
the Federal Reserve Act (12 U.S.C. 289(b)) is amended by adding at the 
end the following new paragraph:
            ``(4) Additional transfers to cover certain relief efforts 
        resulting from hurricane katrina.--
                    ``(A) In general.--Subject to subparagraph (C), 
                from the surplus funds of the Federal reserve banks 
                maintained pursuant to subsection (a)(2), the Federal 
                reserve banks shall transfer to the Board for transfer 
                to the Federal Deposit Insurance Corporation and the 
                National Credit Union Administration, such sums as are 
                necessary to meet any payments required under 
                subsection (a)(1) or (b)(1) of section 805 of the 
                Hurricane Katrina Recovery Act of 2006. In the event 
                that the total amount of requests for indemnification 
                received by the Federal Deposit Insurance Corporation 
                and the National Credit Union Administration exceed the 
                maximum amount specified under subparagraph (C), the 
                sums transferred to the Federal Deposit Insurance 
                Corporation and the National Credit Union 
                Administration, respectively, shall be in proportion to 
                the amount of payments required under subsections 
                (a)(1) and (b)(1) of section 805 of the Hurricane 
                Katrina Recovery Act of 2006, respectively.
                    ``(B) Allocation by federal reserve board.--Of the 
                total amount required to be paid by the Federal reserve 
                banks under this paragraph, the Board shall determine 
                the amount that each such bank shall pay.
                    ``(C) Maximum amount.--The total amount transferred 
                under subparagraph (A) from all Federal reserve banks 
                shall not exceed $200,000,000.
                    ``(D) Replenishment of surplus fund prohibited.--No 
                Federal reserve bank may replenish such bank's surplus 
                fund by the amount of any transfer by such bank under 
                subparagraph (A).''.
    (d) Emergency Guidance and Limitations.--
            (1) In general.--The Board, after consulting the Federal 
        Deposit Insurance Corporation and the National Credit Union 
        Administration, shall, upon the date of enactment of this Act, 
        promptly issue appropriate guidance--
                    (A) to carry out the purposes of this section and 
                administer the programs established in accordance with 
                this section;
                    (B) to reduce the incidence of fraud and any other 
                cause of loss to the greatest extent possible, 
                consistent with the purpose of this Act;
                    (C) to require insured depository institutions and 
                insured credit unions to exercise due diligence in 
                determining the eligibility of any check presented by 
                any individual for indemnification under this section, 
                including such measures as verification of Social 
                Security identification numbers and other identifying 
                information, as the Board may determine to be 
                practicable;
                    (D) to provide insured depository institutions and 
                insured credit unions with reasonable guidance, in 
                light of the emergency circumstances presented by 
                Hurricane Katrina, so as to meet the requirements for 
                indemnification under this section, including the 
                sharing of information on checks that have been 
                presented for indemnification; and
                    (E) notwithstanding any other provision of Federal 
                or State law, to provide for the right of the Board, on 
                behalf of the Federal reserve banks and through the 
                Federal Deposit Insurance Corporation and the National 
                Credit Union Administration, to recover from any 
                insured depository institution or insured credit union 
                the amount of any indemnification paid to such 
                depository institution or credit union with respect to 
                any check, to the extent of the amount so paid, if the 
                insured depository institution or insured credit union 
                collects on the check.
            (2) Compliance with guidance condition.--The emergency 
        guidance issued under paragraph (1) shall require any insured 
        depository institution or insured credit union seeking a 
        commitment under subsection (a)(1) or (b)(1) to demonstrate 
        that the institution or credit union is in compliance with the 
        guidance in such manner as the Board determines to be 
        appropriate and practicable.
            (3) Per individual per institution limitation.--No specific 
        insured depository institution or insured credit union may be 
        indemnified for losses in excess of $2,000 with respect to 
        checks and share drafts presented by any 1 individual.
    (e) Rule of Construction.--No provision of this section shall be 
construed as affecting any right or obligation of an insured depository 
institution or insured credit union to take any action against any 
person in connection with a fraudulent check, a fraudulent negotiation 
of a check, or any other wrongful act.
    (f) Effective Date.--
            (1) In general.--Subject to paragraph (2), the provisions 
        of this section shall apply to checks or share drafts presented 
        to an insured depository institution or an insured credit union 
        during the period beginning on August 28, 2005, and ending 
        August 28, 2006.
            (2) Limited extension.--The period described in paragraph 
        (2) may be extended once for an additional 180 days, if--
                    (A) the Board, after consulting with the Federal 
                Deposit Insurance Corporation and the National Credit 
                Union Administration, determines that the continuing 
                impact of Hurricane Katrina on financial intermediation 
                between consumers and depository institutions or credit 
                unions, on payment networks, and on other forms of 
                communication require an extension of the programs 
                established under this section in order to continue to 
                meet the immediate needs of victims of the disaster; 
                and
                    (B) notice of such determination is published in 
                the Federal Register at least 5 days before the end of 
                the period described in paragraph (1).

SEC. 706. TECHNICAL ASSISTANCE FOR MINORITY INSTITUTIONS.

    (a) Minority Depository Institutions.--
            (1) In general.--The Federal Deposit Insurance Corporation 
        and the Director of the Office of Thrift Supervision shall 
        provide such technical assistance to minority financial 
        institutions affected by Hurricane Katrina as may be 
        appropriate to preserve the safety and soundness of such 
        financial institutions, prevent the insolvency of such 
        institutions, and enable the institutions to recovery from the 
        adverse financial impact of Hurricane Katrina on the customers 
        of the institutions, the assets of the institutions, and any 
        real or personal property securing such assets.
            (2) Minority institution defined.--For purposes of this 
        subsection, the term ``minority financial institution'' has the 
        same meaning as in section 308(b) of the Financial Institutions 
        Reform, Recovery, and Enforcement Act of 1989.
    (b) Minority Credit Unions.--
            (1) In general.--The National Credit Union Administration 
        shall provide such technical assistance to minority credit 
        unions affected by Hurricane Katrina as may be appropriate to 
        preserve the safety and soundness of such credit unions, 
        prevent the insolvency of such credit unions, and enable the 
        credit unions to recovery from the adverse financial impact of 
        Hurricane Katrina on the customers of the credit unions, the 
        assets of the credit unions, and any real and personal property 
        securing such assets.
            (2) Definitions.--For purposes of this subsection, the 
        following definitions shall apply:
                    (A) Minority credit union.--The term ``minority 
                credit union'' means an insured credit union--
                            (i) of which a majority of the share draft 
                        account holders are predominately minority; or
                            (ii) in the case of community development 
                        credit union, the community served by the 
                        credit union is predominantly minority.
                    (B) Minority.--The term ``minority'' has the same 
                meaning as in section 308(b)(2) of the Financial 
                Institutions Reform, Recovery, and Enforcement Act of 
                1989.

SEC. 707. IMPLEMENTING KATRINA DISASTER RELIEF THROUGH THE CDFI FUND.

    (a) Authorization of Appropriations.--In addition to amounts 
appropriated to the Community Development Financial Institutions Fund 
(hereafter in this section referred to as the ``Fund'') for fiscal year 
2006 to carry out the purposes of the Community Development Banking and 
Financial Institutions Act of 1994, there are authorized to be 
appropriated to the Fund (which may be derived by transfer from funds 
appropriated for ``Disaster Relief'' in Public Law 109-62), such sums 
as may be necessary for fiscal year 2006 to carry out such Act for the 
purposes of, and in the manner provided in, this section.
    (b) Assistance Provided by the Fund for Hurricane Katrina 
Assistance.--
            (1) In general.--Amounts appropriated pursuant to the 
        authorization under subsection (a) shall be available to the 
        Fund under the Community Development Banking and Financial 
        Institutions Act of 1994 for the purposes of such Act, 
        including technical and training assistance, awards under the 
        Bank Enterprise Act of 1991, equity investments, deposits, and 
        other forms of financial assistance to community development 
        financial institutions, in accordance with paragraph (2).
            (2) Adjustments to criteria.--In providing assistance under 
        paragraph (1), the Community Development Banking and Financial 
        Institutions Act of 1994 shall be applied with the following 
        adjustments:
                    (A) Designation of assisted areas.--Notwithstanding 
                section 107(b) of the Community Development Banking and 
                Financial Institutions Act of 1994, the Fund shall 
                limit the selection of community development financial 
                institution applicants for assistance pursuant to this 
                section to any financial institution that--
                            (i) is located in a Hurricane Katrina 
                        affected area; or
                            (ii) demonstrates to the satisfaction of 
                        the Fund that the financial institution has the 
                        ability to provide capital, credit or financial 
                        services within the Hurricane Katrina affected 
                        area.
                    (B) Waiver of matching requirements.--In the case 
                of an applicant with severe constraints on available 
                sources of matching funds, the Fund may reduce or waive 
                the matching requirements of section 108(e)(1) of the 
                Community Development Banking and Financial 
                Institutions Act of 1994 for such applicant for 
                purposes of this subsection.
                    (C) Waiver of limitations on certain forms of 
                assistance.--The limitation contained in section 113(c) 
                of the Community Development Banking and Financial 
                Institutions Act of 1994 shall not apply to assistance 
                provided under this subsection in accordance with 
                section 113 of such Act.
                    (D) Application of bank enterprise act of 1991.--In 
                making assistance under this subsection available in 
                the manner provided in section 114 of the Community 
                Development Banking and Financial Institutions Act of 
                1994, the Bank Enterprise Act of 1991 shall be applied 
                under section 114(a)(2)--
                            (i) by substituting ``Hurricane Katrina 
                        affected area'', as defined in paragraph (3), 
                        for ``qualified distressed community''; and
                            (ii) with respect to lifeline accounts, by 
                        taking into account only lifeline accounts 
                        offered in an Hurricane Katrina affected area.
            (3) Hurricane katrina affected area defined.--For purposes 
        of this section, the term ``Hurricane Katrina affected area'' 
        means any county (as defined in section 2 of title 1, United 
        States Code) that--
                    (A) is within an area in which the President, 
                pursuant to section 401 of the Robert T. Stafford 
                Disaster Relief and Emergency Assistance Act, has 
                determined, in August 2005 that a major disaster exists 
                due to Hurricane Katrina; and
                    (B) has been designated by the Federal Emergency 
                Management Agency as an area in which public assistance 
                or individual assistance is available as a result of 
                Hurricane Katrina.

     TITLE VIII--EXPANDED OPPORTUNITY AND SMALL BUSINESS PROVISIONS

SEC. 801. DEFINITIONS.

    In this title--
            (1) the term ``Administrator'' means the Administrator of 
        the Small Business Administration;
            (2) the term ``area affected by Hurricane Katrina'' means a 
        county (as that term is defined in section 2 of title I, United 
        States Code) in Alabama, Louisiana, Mississippi, or Texas in 
        which the President declared a major disaster under section 401 
        of the Robert T. Stafford Disaster Relief and Emergency 
        Assistance Act (42 U.S.C. 5170) as a result of Hurricane 
        Katrina;
            (3) the term ``hurricane reconstruction contractor'' means 
        a person or entity receiving Federal funds under the Robert T. 
        Stafford Disaster Relief and Emergency Assistance Act (42 
        U.S.C. 5121 et seq.), or party to a contract funded under such 
        Act, for repair or reconstruction in the area affected by 
        Hurricane Katrina;
            (4) the term ``local business'' means any business 
        incorporated in or owned by a person residing in the area 
        affected by Hurricane Katrina;
            (5) the term ``local resident'' means a person who had a 
        permanent residence in the area affected by Hurricane Katrina 
        before August 28, 2005; and
            (6) the terms ``small business concern'' and ``small 
        business concern owned and controlled by socially and 
        economically disadvantaged individuals'' have the same meaning 
        as in section 3 and 8 of the Small Business Act, respectively 
        (15 U.S.C. 632, 637).

SEC. 802. INCREASED PROCUREMENT GOAL FOR CERTAIN FEDERAL CONTRACTS FOR 
              RECOVERY FROM HURRICANE KATRINA.

    For purposes of section 15(g)(1) of the Small Business Act (15 
U.S.C. 644 (g)(1)), the Government-wide goal for procurement contracts 
awarded to small business concerns owned and controlled by socially and 
economically disadvantaged individuals for recovery and reconstruction 
activities related to Hurricane Katrina shall be 15 percent.

SEC. 803. LOCAL PARTICIPATION GOAL FOR PARTICIPATION IN FEDERAL 
              PROCUREMENT CONTRACTS IN AREAS AFFECTED BY HURRICANE 
              KATRINA.

    (a) In General.--There is established a Government-wide goal for 
procurement contracts awarded to local businesses in the area affected 
by Hurricane Katrina.
    (b) Amount.--For each of fiscal years 2006 and 2007, the goal shall 
be 30 percent of the total value of all prime contract and subcontract 
awards for such fiscal year.
    (c) Administration.--The goal established under this section shall 
be administered by the Administrator in the same manner as the goals 
established under section 15(g)(1) of the Small Business Act (15 U.S.C. 
644(g)(1)).

SEC. 804. HURRICANE RECOVERY-RELATED CONTRACTS TO REQUIRE 40 PERCENT OF 
              CONTRACT WORKERS BE LOCAL RESIDENTS.

    Any contract awarded after the date of the enactment of this Act by 
the Federal Government for recovery or reconstruction activities to be 
carried out in the area affected by Hurricane Katrina shall include a 
requirement that at least 40 percent of the workers performing the work 
under the contract be local residents.

SEC. 805. APPRENTICESHIP AND OTHER REQUIREMENTS FOR POST-HURRICANE 
              RECONSTRUCTION.

    (a) Apprenticeship Programs.--A hurricane reconstruction contractor 
shall utilize an apprenticeship program certified under subsection (b).
    (b) Certification.--An apprenticeship program may be certified by 
the Administrator under this section if such program--
            (1) is--
                    (A) certified by a State employment services 
                authority or other local authority that oversees 
                apprenticeship and job training programs; or
                    (B) registered with the Bureau of Apprenticeship 
                and Training of the Department of Labor under part 29 
                of chapter 1 of title 29, Code of Federal Regulations;
            (2) includes a preapprenticeship program that helps prepare 
        individuals for the apprenticeship program and for the basics 
        tests necessary to become an apprentice.

SEC. 806. TECHNICAL ASSISTANCE PROGRAM FOR SMALL BUSINESS OWNERS' 
              RECOVERY.

    (a) Establishment.--Not later than 30 days after the date of 
enactment of this Act, the Department of Commerce shall establish a 
program for qualified private or nonprofit sector entities to provide 
information and technical assistance to small business concerns to meet 
management related needs, including strategies for locating and hiring 
local residents as well as implementing new business processes and 
shifting production to services or goods in demand arising from the 
consequences of Hurricanes Katrina.
    (b) Authorization of Appropriations.--There are authorized to be 
appropriated such sums as necessary to carry out this section.

         TITLE IX--RELIEF FOR INSTITUTIONS OF HIGHER EDUCATION

SEC. 901. FINDINGS; SENSE OF CONGRESS.

    (a) Findings.--Congress finds the following:
            (1) Historically Black Colleges and Universities (HBCUs) 
        play an essential role in the education of African-Americans, 
        and in the fabric of the Gulf Coast region.
            (2) Historically, 65 percent of all Black physicians, 50 
        percent of all Black engineers, and 35 percent of all Black 
        lawyers have graduated from HBCUs.
            (3) Three Historically Black Colleges and Universities in 
        New Orleans, Dillard University, Xavier University, and 
        Southern University at New Orleans, sustained over $600,000,000 
        in hurricane damage, lost $60,000,000 in revenues, and were 
        unable to conduct classes during the fall semester of 2005.
            (4) Months after the devastation caused by the hurricanes, 
        these 3 HBCUs have reopened, although with reduced student 
        enrollments, reduced faculty numbers, and often in relocated 
        settings.
            (5) Revitalizing these institutions of higher education in 
        the Gulf Coast region will be a vital element in attracting 
        middle and upper income families back to the Gulf Coast region, 
        and in ensuring sustained economic recovery for the region's 
        lower income families.
            (6) Revitalizing the Gulf Coast economy will depend on 
        providing a highly skilled workforce.
            (7) The return of qualified academic professionals and 
        administrators is a vital element in the revitalization of 
        affected institutions of higher education in the Gulf Coast 
        region.
            (8) Many of the scientific, health, technology, and 
        cultural industries of the Gulf Coast region are dependent on 
        local institutions of higher education.
    (b) Sense of Congress.--It is the sense of Congress that the 
assistance provided under this title to revitalize Historically Black 
Colleges and Universities in the Gulf Coast region is a first step 
toward revitalizing and restoring the economic, social, and cultural 
prosperity of the entire Gulf Coast region.

SEC. 902. DEFINITIONS.

    In this title:
            (1) Affected institution.--The term ``affected 
        institution'' means a campus of the 3 Historically Black 
        Colleges and Universities in New Orleans, Louisiana, of Xavier 
        University, Dillard University, and Southern University at New 
        Orleans--
                    (A) located in an area affected by a Hurricane 
                Katrina disaster; and
                    (B) that was forced to close, relocate, or 
                significantly curtail its activities as a result of 
                damage directly sustained by a Hurricane Katrina 
                disaster.
            (2) Affected state.--The term ``affected State'' means the 
        State of Louisiana.
            (3) Area affected by a hurricane katrina disaster.--The 
        term ``area affected by a Hurricane Katrina disaster'' means a 
        county or parish, in an affected State, that has been 
        designated by the Federal Emergency Management Agency for 
        disaster assistance for individuals and households as a result 
        of Hurricane Katrina.
            (4) Faculty.--The term ``faculty'' means academic 
        professionals, administrators, and staff employed by an 
        affected institution as of August 28, 2005.
            (5) Hurricane katrina disaster.--The term ``Hurricane 
        Katrina disaster'' means a major disaster that the President 
        declared to exist, in accordance with section 401 of the Robert 
        T. Stafford Disaster Relief and Emergency Assistance Act (42 
        U.S.C. 5170), and that was caused by Hurricane Katrina.
            (6) Secretary.--The term ``Secretary'' means the Secretary 
        of Education.

SEC. 903. INSTITUTIONAL GRANTS FOR FACULTY RETENTION.

    (a) Purpose.--The purpose of this section is to support affected 
institutions in their efforts to revitalize their communities following 
Hurricane Katrina.
    (b) Program Authorized.--
            (1) Authority.--From funds made available under subsection 
        (f), the Secretary shall award grants to each affected 
        institution to assist the affected institutions in recruiting 
        and retaining students and retaining faculty. The Secretary 
        shall award grants under this section as soon as possible, but 
        no later than 6 months after the date of the enactment of this 
        Act.
            (2) Duration; limitation.--Each grant awarded to an 
        affected institution under this section shall be awarded for a 
        period of 5 years, and may not be renewed. An affected 
        institution may not receive more than 1 grant under this 
        section.
            (3) Use of funds.--
                    (A) Incentives for faculty.--Funds made available 
                by a grant under this section shall be used by an 
                affected institution to provide incentives for faculty 
                employed by an affected institution to remain in the 
                Gulf Coast region at such affected institution. Such 
                incentives may include--
                            (i) employing returning faculty to assist 
                        in rebuilding facilities of the affected 
                        institution;
                            (ii) developing and providing temporary 
                        housing for returning faculty and their 
                        dependents who have been displaced from their 
                        homes;
                            (iii) continuing salaries and health 
                        benefits for returning faculty for up to 1 year 
                        from the date the affected institution receives 
                        the grant;
                            (iv) providing tuition assistance for 
                        returning faculty and their dependents;
                            (v) creating innovative work and research 
                        incentives for returning faculty; and
                            (vi) any other incentives determined 
                        necessary by the affected institution and 
                        approved by the Secretary.
                    (B) Institutional promotion.--Not more than 5 
                percent of the funds made available by a grant under 
                this section shall be used by an affected institution 
                to promote the institution at job and college fairs, 
                and through the media.
            (4) Prevailing wages.--Wages paid, for purposes of 
        rebuilding an affected institution's facilities under paragraph 
        (3)(A)(i), to students or faculty in whole or in part with 
        grant funds received under this section for employment as 
        laborers, mechanics, or service employees shall be paid at 
        rates not less than those prevailing in the locality as 
        determined by the Secretary of Labor in accordance with 
        sections 3141, 3142, and 3145 of title 40, United States Code, 
        or section 351 of title 41, United States Code, as the case may 
        be. Notwithstanding any other provision of law, the 
        requirements of this paragraph shall not be waived or 
        suspended.
    (c) Applications.--An affected institution of higher education 
desiring a grant under this section shall submit an application to the 
Secretary within 90 days of the date of enactment of this Act, in such 
manner and accompanied by such information as the Secretary may 
require. Each application shall--
            (1) demonstrate that the institution is an affected 
        institution as defined in section 1102(1);
            (2) specify the amount of grant funds requested;
            (3) demonstrate the need of the affected institution for 
        such grant by including in the application--
                    (A) evidence that, as a result of a Hurricane 
                Katrina disaster, the affected institution suffered a 
                direct and significant economic impact and a decline in 
                student enrollment, hindering the institution's ability 
                to continue full operation;
                    (B) evidence that, as a result of a Hurricane 
                Katrina disaster, the affected institution lost 
                resources necessary to retain faculty, hindering the 
                affected institution's ability to continue full 
                operation;
                    (C) an assessment of damage to the infrastructure 
                of the affected institution as a result of a Hurricane 
                Katrina disaster;
                    (D) information regarding additional needs created 
                by a Hurricane Katrina disaster; and
                    (E) other relevant data; and
            (4) contain a description of the affected institution's 
        plan to carry out the purposes of this section.
    (d) Priority.--The Secretary shall give priority in awarding grants 
under this section to affected institutions most in need, as determined 
by the Secretary.
    (e) Reporting Requirements; Reviews.--
            (1) Reports.--Each affected institution receiving a grant 
        under this section shall report to the Secretary no later than 
        September 30 of each year of the 5-year period for which the 
        grant is awarded.
            (2) Contents.--The report shall include--
                    (A) data on the populations served under this 
                section;
                    (B) a description of the use of the grant funds 
                received under this section, including a description of 
                programs developed with such funds;
                    (C) a financial statement accounting for the use of 
                the grant funds; and
                    (D) data on the impact of the grant on enrollment 
                and retention at the affected institution, including 
                data on the numbers and percentages of new and 
                returning students, and the number and percentage of 
                faculty that have been retained.
            (3) Reviews.--The Secretary shall conduct periodic reviews 
        to ensure that grant funds are properly managed, and that the 
        programs using such funds achieve their intended outcomes.
    (f) Transfer of Funds.--Notwithstanding any other provision of law, 
of the amounts made available to the Department of Homeland Security 
under the heading ``Disaster Relief'' under the heading ``Emergency 
Preparedness and Response'' of Public Law 109-62 (119 Stat. 1991), 
$18,000,000 shall be available to the Secretary of Education to carry 
out this section, which funds shall remain available through fiscal 
year 2010.

SEC. 904. LOAN FORGIVENESS.

    (a) Statement of Purpose.--The purpose of this section is to 
encourage students to continue attending, and to earn degrees from, 
affected institutions.
    (b) Program Authorized.--From funds made available under subsection 
(f), the Secretary shall carry out a program, through the holder of the 
loan, of assuming the obligation to repay a qualified loan amount for a 
loan made under part B of title IV of the Higher Education Act of 1965 
(20 U.S.C. 1071 et seq.), and of canceling the obligation to repay a 
qualified loan amount for a loan made under part D or E of such title 
IV (20 U.S.C. 1087a et seq.; 1087aa et seq.), in accordance with 
subsection (c), for any borrower, who--
            (1) returns to or enrolls in an affected institution in 
        academic year 2005-2006, 2006-2007, or 2007-2008;
            (2) obtains an associate's degree or a bachelor's degree 
        from such institution; and
            (3) is not in default on a loan for which the borrower 
        seeks forgiveness.
    (c) Qualified Loan Amount.--
            (1) Associate's degree.--Upon completion of an associate's 
        degree from an affected institution, the Secretary shall repay 
        or cancel--
                    (A) in the case of a full-time student, $2,500 for 
                each academic year of enrollment at such affected 
                institution; or
                    (B) in the case of a student enrolled less than 
                full-time, $2,500 for the equivalent of 1 academic year 
                of enrollment as a full-time student at such affected 
                institution, as determined by the Secretary,
        not to exceed $5,000.
            (2) Bachelor's degree.--Upon completion of a bachelor's 
        degree from an affected institution, the Secretary shall repay 
        or cancel--
                    (A) in the case of a full-time student, $2,500 for 
                each academic year of enrollment at such affected 
                institution; or
                    (B) in the case of a student enrolled less than 
                full-time, $2,500 for the equivalent of one academic 
                year of enrollment as a full-time student at such 
                affected institution, as determined by the Secretary,
        not to exceed $10,000.
            (3) Limitation.--The Secretary shall repay or cancel under 
        this section not more than the total outstanding Federal loan 
        obligation of the student for loans described in subsection 
        (b), or $10,000, whichever is less.
            (4) Prevention of abuse.--The Secretary is authorized to 
        issue such regulations as may be necessary to prevent borrowers 
        from receiving repayment or cancellation under this section for 
        an excessive period of enrollment in comparison to the 
        enrollment period which the Secretary determines is appropriate 
        to obtain an associate's or a bachelor's degree.
            (5) Academic year of enrollment.--For the purpose of 
        calculating loan repayment or cancellation under this section, 
        the term ``academic year of enrollment'' means the academic 
        year in which an affected institution reopens after Hurricane 
        Katrina, or any subsequent academic year.
    (d) Priority.--The Secretary shall give priority for repayment or 
cancellation under this section to students most in need, as determined 
by the Secretary.
    (e) Rule of Construction.--Nothing in this section shall be 
construed to authorize any refunding of any repayment or cancellation 
of a loan.
    (f) Transfer of Funds.--Notwithstanding any other provision of law, 
of the amounts made available to the Department of Homeland Security 
under the heading ``Disaster Relief'' under the heading ``Emergency 
Preparedness and Response'' of Public Law 109-62 (119 Stat. 1991), 
$9,000,000 shall be available to the Secretary of Education to carry 
out this section.

SEC. 905. REGULATIONS.

    The Secretary is authorized to issue such regulations as may be 
necessary to carry out the provisions of this title.

SEC. 906. EMERGENCY DESIGNATIONS.

    Sections 903 and 904 are designated as emergency requirements 
pursuant to section 402 of H. Con. Res. 95 (109th Congress).

  TITLE X--INCREASED ACCESS TO REFUNDABLE PORTION OF CHILD TAX CREDIT

SEC. 1001. REDUCTION IN INCOME THRESHOLD USED TO CALCULATE REFUNDABLE 
              PORTION OF CHILD TAX CREDIT.

    (a) In General.--Section 24(d) of the Internal Revenue Code of 1986 
(relating to portion of credit refundable) is amended--
            (1) by striking ``as exceeds'' and all that follows through 
        ``, or'' in paragraph (1)(B)(i) and inserting ``as exceeds 
        $8,000, or'',
            (2) by striking ``2001, the $10,000 amount'' in paragraph 
        (3) and inserting ``2006, the $8,000 amount,'', and
            (3) by striking ``2000'' in paragraph (3)(B) and inserting 
        ``2005''.
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2005.
    (c) Application of Sunset to This Section.--Each amendment made by 
this section shall be subject to title IX of the Economic Growth and 
Tax Relief Reconciliation Act of 2001 to the same extent and in the 
same manner as the provision of such Act to which such amendment 
relates.

SEC. 1002. INCREASE IN PERCENTAGE EARNED INCOME USED TO CALCULATE 
              REFUNDABLE PORTION OF CHILD TAX CREDIT.

    (a) In General.--Section 24(d)(1)(B)(i) of the Internal Revenue 
Code of 1986 (relating to portion of credit refundable) is amended by 
striking ``15 percent'' and inserting ``20 percent''.
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2005.
    (c) Application of Sunset to This Section.--Each amendment made by 
this section shall be subject to title IX of the Economic Growth and 
Tax Relief Reconciliation Act of 2001 to the same extent and in the 
same manner as the provision of such Act to which such amendment 
relates.

SEC. 1003. WORKING FAMILY TAX RELIEF.

    For purposes of section 24(d) of the Internal Revenue Code of 1986 
(relating to portion of child tax credit made refundable), in the case 
of any taxable year beginning during 2006 or 2007, with respect to any 
taxpayer who had a primary residence in Alabama, Louisiana, or 
Mississippi at any time during 2005 and maintains a primary residence 
in Alabama, Louisiana, or Mississippi for at least 6 months during such 
taxable year, clause (i) of section 24(d)(1)(B) of such Code shall be 
applied by substituting 10 percent of the taxpayer's earned income for 
such taxable year for the amount which would otherwise be determined 
under such clause for such taxable year.

                       TITLE XI--SENSE OF SENATE

SEC. 1101. SENSE OF THE SENATE REGARDING SOURCE OF CERTAIN FUNDING.

    It is the sense of the Senate that, except as otherwise provided in 
this Act, the funds necessary to carry out the purposes of this Act 
should be made available from otherwise unobligated amounts 
appropriated for hurricane relief.
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