(5) a description of the improvements to be 
supported with funds provided under this subtitle; 
(6) a cost estimate of the proposed improve-
ments; 
(7) an identification of other resources that are 
available to carry out the activities for which funds 
are requested under this subtitle; and 
(8) such other information and assurances as 
the Secretary may reasonably require. 
Subtitle B—Low-Interest Loans for 
Construction, Modernization, or 
Repair of School Facilities 
SEC. 111. LOW-INTEREST LOANS. 
(a) AUTHORITY
AND CONDITIONS
FOR LOANS.— 
Each fiscal year, the Secretary shall make low-interest 
loans to local educational agencies for the construction, 
modernization, or repair of public kindergarten, elemen-
tary, and secondary educational facilities that are safe, 
healthy, high-performing, and up-to-date technologically. 
(b) PRIORITY; CRITERIA FOR APPROVING LOANS.— 
(1) PRIORITY.—In making loans under this 
subtitle, the Secretary shall give priority to local 
educational agencies described in section 103(a). 
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(2) CRITERIA.—In making loans under this 
subtitle, the Secretary shall also consider the criteria 
specified in section 103(b). 
(c) ALLOWABLE USES
OF FUNDS.—A local edu-
cational agency receiving a loan under this subtitle may 
use the loan for any of the activities described in section 
105. 
(d) AMOUNT AND CONDITIONS OF LOANS.—In mak-
ing loans under this subtitle, the Secretary shall ensure 
that— 
(1) the amount of a loan does not exceed the 
total construction, modernization, or repair costs in-
volved, as determined by the Secretary; and 
(2) the loan is secured in such manner and 
must be repaid within such period, not exceeding 30 
years, as may be determined by the Secretary. 
SEC. 112. REVOLVING FUND. 
(a) ESTABLISHMENT.—There is established in the 
Treasury a revolving fund to be known as the School Con-
struction, Modernization, and Repair Revolving Fund (in 
this section referred to as the ‘‘revolving fund’’). 
(b) CONTENTS OF FUND.—The revolving fund shall 
consist of— 
(1) any amounts derived from the loan program 
carried out under this subtitle; and 
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(2) any amounts appropriated to carry out this 
subtitle pursuant to section 127. 
(c) AVAILABILITY.—The revolving fund shall be 
available to the Secretary, in amounts specified in appro-
priations Acts and without fiscal year limitation, to carry 
out this subtitle. 
Subtitle C—General Provisions 
SEC. 121. IMPERMISSIBLE USES OF FUNDS. 
No funds received under this title may be used for— 
(1) payment of maintenance costs; or 
(2) stadiums or other facilities primarily used 
for athletic contests or exhibitions or other events 
for which admission is charged to the general public. 
SEC. 122. SUPPLEMENT, NOT SUPPLANT. 
A local educational agency receiving a grant under 
subtitle A or a loan under subtitle B shall use such Fed-
eral funds only to supplement and not supplant the 
amount of funds that would, in the absence of such Fed-
eral funds, be available for construction, modernization, 
and repair of public kindergarten, elementary, and sec-
ondary educational facilities. 
SEC. 123. MAINTENANCE OF EFFORT. 
A local educational agency may receive a grant under 
subtitle A or a loan under subtitle B for any fiscal year 
only if the Secretary finds that either the combined fiscal 
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effort per student or the aggregate expenditures of the 
agency and the State involved with respect to the provision 
of free public education by the agency for the preceding 
fiscal year was not less than 90 percent of the combined 
fiscal effort or aggregate expenditures for the second pre-
ceding fiscal year. 
SEC. 124. SPECIAL RULE. 
Each local educational agency receiving a grant under 
subtitle A or a loan under subtitle B shall ensure that, 
if the agency carries out construction, modernization, or 
repair through a contract, the process for any such con-
tract ensures the maximum number of qualified bidders, 
including small, minority, and women-owned businesses, 
through full and open competition. 
SEC. 125. APPLICATION OF GEPA. 
The grant program under subtitle A and the loan 
program under subtitle B are applicable programs (as that 
term is defined in section 400 of the General Education 
Provisions Act (20 U.S.C. 1221)) subject to section 439 
of such Act (20 U.S.C. 1232b). 
SEC. 126. REPORTING. 
(a) REPORTS BY LOCAL EDUCATIONAL AGENCIES.— 
Not later than December 31 of each fiscal year, each local 
educational agency receiving a grant under subtitle A or 
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a loan under subtitle B shall submit to the Secretary a 
report on the agency’s use of such grant or loan funds. 
(b) REPORTS BY SECRETARY.—Not later than De-
cember 31 of each fiscal year, the Secretary shall submit 
to the Committee on Education and the Workforce of the 
House of Representatives and the Committee on Health, 
Education, Labor, and Pensions of the Senate a report 
on grants and loans made under this title, including the 
Secretary’s efforts pursuant to sections 103(a) and 
111(b)(1), the types of construction, modernization, and 
repair funded, and the number of students impacted, in-
cluding the number of students counted under section 
1124(c) of the Elementary and Secondary Education Act 
of 1965 (20 U.S.C. 6333(c)). 
SEC. 127. AUTHORIZATION OF APPROPRIATIONS. 
(a) IN GENERAL.—To carry out subtitles A, B, and 
C of this title, there are authorized to be appropriated 
$6,400,000,000 for fiscal year 2007 and such sums as 
may be necessary for each of fiscal years 2008 through 
2011. 
(b) ALLOCATION.—Of the amount appropriated pur-
suant to this section for each fiscal year— 
(1) not less than 85 percent shall be reserved 
to carry out subtitle A; and 
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