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ment submitted under subsection (c)(1)(A) and may request 
any information that the Secretary of Education and 
Comptroller General determine necessary to conduct such 
an audit. 
(f) REDUCTION IN ASSISTANCE.—In calculating assist-
ance to eligible postsecondary educational institutions 
under this section, the Secretary of Education shall cal-
culate a figure that reduces from the monetary amount of 
losses incurred by such institution, only the amount of col-
lateral source compensation the institution has already re-
ceived from insurance, the Federal Emergency Management 
Agency, and the Small Business Administration. 
(g) REGULATIONS.—Not later than 30 days after the 
date of enactment of this section, the Secretary of Education 
shall establish terms for the long-term, low-interest direct 
loan program and procedures for an application for assist-
ance under this section and minimum requirements for the 
program and for receiving assistance under this section, in-
cluding the following: 
(1) Forms to be used in submitting request for 
assistance. 
(2) Procedures to assist in filing and pursing as-
sistance. 
(3) Loan repayment and interest rate procedures 
and requirements, as specified by the Secretary of
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Education and in accordance with the published rule 
of October 18, 2005 (44 C.F.R. 206.370–377), imple-
menting the Community Disaster Loan Act of 2005 
(Public Law 109–88). 
HISTORICALLY BLACK COLLEGE AND UNIVERSITY CAPITAL 
FINANCING PROGRAM 
SEC. 2702. (a) In this section: 
(1) The term ‘‘affected institution’’ means an in-
stitution of higher education that is— 
(A) a part B institution, as such term is 
defined in section 322 of the Higher Education 
Act of 1965 (20 U.S.C. 1061); and 
(B) located in an area affected by a Gulf 
hurricane disaster. 
(2) The terms ‘‘area affected by a Gulf hurricane 
disaster’’ and ‘‘Gulf hurricane disaster’’ have the 
meanings given such terms in section 209 of the 
Higher Education Hurricane Relief Act of 2005 
(Public Law 109–148, 119 Stat. 2809). 
(b) Notwithstanding any other provision of law (unless 
enacted with specific reference to this section), the Secretary 
of Education is authorized to waive or modify, as the Sec-
retary determines is necessary, any statutory or regulatory 
provision related to historically Black college and univer-
sity capital financing under part D of title III of the High-
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er Education Act of 1965 (20 U.S.C. 1066 et seq.), in con-
nection with a Gulf hurricane disaster, to ensure that— 
(1) the calculation of financing need under sec-
tion 343 of such Act (20 U.S.C. 1066b) for an affected 
institution is modified to reflect any changes in the 
financial condition of the institution as a result of the 
Gulf hurricane disaster; and 
(2) an affected institution that was not receiving 
assistance under such part before the Gulf hurricane 
disaster is eligible to apply for capital financing to 
assist in institutional recovery from the Gulf hurri-
cane disaster. 
(c)(1) Notwithstanding section 343(b)(1) or any other 
provision of title III of the Higher Education Act of 1965 
(20 U.S.C. 1066b(b)(1), 1051 et seq.), in carrying out sec-
tion 343 of such Act, a designated bonding authority shall 
withhold not more than 1 percent for the cost of issuance 
from the proceeds of qualified bonds that are loaned to an 
affected institution. 
(2) Notwithstanding section 343(b)(3) or any other 
provision of title III of the Higher Education Act of 1965 
(20 U.S.C. 1066b(b)(3), 1051 et seq.), the interest rate 
charged for a loan issued under part D of title III of such 
Act, after the date of enactment of this Act and with respect
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to an affected institution, shall be a rate of 1 percent for 
the period of the loan. 
(3) Notwithstanding any other provision of title III 
of the Higher Education Act of 1965 (20 U.S.C. 1051 et 
seq.), the requirements of section 343(b)(8) and 343(c)(2) 
of such Act (20 U.S.C. 1066(b)(8)) shall not apply with re-
spect to an affected institution receiving a loan under part 
D of title III of such Act (20 U.S.C. 1066 et seq.). 
(d) Notwithstanding any provision of title III of the 
Higher Education Act of 1965 (20 U.S.C. 1051 et seq.), or 
any regulation promulgated under such title, the Secretary 
of Education shall grant a deferment, for a period of not 
more than 3 years, to an affected institution who has re-
ceived a loan under part D of title III of such Act (20 
U.S.C. 1066 et seq.). During the deferment period granted 
under this subsection, the affected institution shall not be 
required to pay any periodic installment of principal re-
quired under the loan agreement for such loan, and interest 
on such loan shall not accrue for the period of the deferment. 
(e)(1) Except as provided in paragraph (2), the au-
thority provided under this section to enter into, or modify 
or waive the terms of, a loan agreement or insurance agree-
ment under part D of title III of the Higher Education 
Act of 1965 (20 U.S.C. 1066 et seq.), or to grant a loan
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deferment under subsection (d), shall terminate 1 year after 
the date of enactment of this Act. 
(2) Any provision of a loan agreement or insurance 
agreement modified or waived by the authority under this 
section shall remain so modified or waived for the duration 
of the period covered by the loan agreement or insurance 
agreement. 
(f) The amount provided in this section is designated 
as an emergency requirement pursuant to section 402 of 
H. Con. Res. 95 (109th Congress), the concurrent resolution 
on the budget for fiscal year 2006. 
USE OF SUPPLEMENTAL HIGHER EDUCATION ACT FUNDS 
SEC. 2703. Funds available to the Mississippi Insti-
tutes of Higher Learning under the heading ‘‘Department 
of Education’’ in Public Law 109–148 may be used to sup-
port activities authorized by part B of title VII of the High-
er Education Act of 1965, as determined necessary by the 
Mississippi Institutes of Higher Learning: Provided, That 
the amount provided under this section is designated as an 
emergency requirement pursuant to section 402 of H. Con. 
Res. 95 (109th Congress), the concurrent resolution on the 
budget for fiscal year 2006.
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CHAPTER 8 
DEPARTMENT OF DEFENSE 
MILITARY CONSTRUCTION 
MILITARY CONSTRUCTION, NAVY 
For an additional amount for ‘‘Military Construction, 
Navy’’ for necessary expenses related to the consequences of 
Hurricane Katrina and other hurricanes of the 2005 sea-
son, $44,770,000, to remain available until September 30, 
2010: Provided, That such funds may be obligated or ex-
pended for planning and design and military construction 
projects not otherwise authorized by law: Provided further, 
That the amount provided under this heading is designated 
as an emergency requirement pursuant to section 402 of 
H. Con. Res. 95 (109th Congress), the concurrent resolution 
on the budget for fiscal year 2006. 
MILITARY CONSTRUCTION, AIR FORCE 
For an additional amount for ‘‘Military Construction, 
Air Force’’ for necessary expenses related to the con-
sequences of Hurricane Katrina and other hurricanes of the 
2005 season, $103,500,000, to remain available until Sep-
tember 30, 2010: Provided, That such funds may be obli-
gated or expended for planning and design and military 
construction projects not otherwise authorized by law: Pro-
vided further, That the amount provided under this heading 
is designated as an emergency requirement pursuant to sec-
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tion 402 of H. Con. Res. 95 (109th Congress), the concur-
rent resolution on the budget for fiscal year 2006. 
MILITARY CONSTRUCTION, ARMY NATIONAL GUARD 
For an additional amount for ‘‘Military Construction, 
Army National Guard’’ for necessary expenses related to the 
consequences of Hurricane Katrina and other hurricanes of 
the 2005 season, $210,071,000, to remain available until 
September 30, 2010: Provided, That such funds may be obli-
gated or expended for planning and design and military 
construction projects not otherwise authorized by law: Pro-
vided further, That the amount provided under this heading 
is designated as an emergency requirement pursuant to sec-
tion 402 of H. Con. Res. 95 (109th Congress), the concur-
rent resolution on the budget for fiscal year 2006: Provided 
further, That the amount appropriated under this heading 
in the Emergency Supplemental Appropriations Act to Ad-
dress Hurricanes in the Gulf of Mexico and Pandemic In-
fluenza, 2006 (division B, Public Law 109–148) shall re-
main available until September 30, 2010. 
MILITARY CONSTRUCTION, AIR NATIONAL GUARD 
For an additional amount for ‘‘Military Construction, 
Air National Guard’’ for necessary expenses related to the 
consequences of Hurricane Katrina and other hurricanes of 
the 2005 season, $5,800,000, to remain available until Sep-
tember 30, 2010: Provided, That such funds may be obli-