‘‘SEC. 614. CHINESE BUSINESS EDUCATION PROGRAMS. 
‘‘(a) PROGRAM AUTHORIZED.—The Secretary is au-
thorized to make grants to institutions of higher edu-
cation, or combinations of such institutions, to pay the 
Federal share of the cost of planning, establishing, and 
operating Chinese business education programs to— 
‘‘(1) develop and enhance student skills, aware-
ness, and expertise relating to Chinese business; and 
‘‘(2) prepare students to promote the competi-
tiveness of and opportunities for American busi-
nesses and firms in the People’s Republic of China. 
‘‘(b) AUTHORIZED ACTIVITIES.—Each grant made 
under this section shall be used to plan, establish, and op-
erate academic programs of study relating to Chinese 
business, including undergraduate and graduate level de-
grees, courses, or seminars on— 
‘‘(1) the economy of the People’s Republic of 
China; 
‘‘(2) Chinese trade and commerce; 
‘‘(3) new and expanding export opportunities 
for American businesses and firms in China; and 
‘‘(4) the economic, commerce, and trade rela-
tions between the United States and China. 
‘‘(c) APPLICATION.—Each eligible recipient desiring 
a grant under this section shall submit an application at 
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such time, in such manner, and containing such informa-
tion as the Secretary may require. 
‘‘(d) DURATION OF GRANTS.—Grants under this sec-
tion shall be for a period of not more than 2 years. Such 
grants shall be renewable by the Secretary for additional 
2-year periods. 
‘‘(e) FEDERAL SHARE.— 
‘‘(1) FEDERAL SHARE.—The Federal share of 
the cost of a Chinese business education program 
under this section shall be not more than 50 percent 
of the cost of such program. 
‘‘(2) NON-FEDERAL SHARE.—The non-Federal 
share of the cost of a Chinese business education 
program under this section may be provided either 
in cash or in kind.’’; and 
(3) at the end of section 615, as redesignated 
by paragraph (1) of this section, add the following 
new subsection: 
‘‘(c) CHINESE BUSINESS EDUCATION PROGRAMS.— 
There are authorized to be appropriated $2,000,000 for 
fiscal year 2007, and $5,000,000 for each of the 5 suc-
ceeding fiscal years, to carry out the provisions of section 
614. ’’. 
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SEC. 502. UNITED STATES-PEOPLE’S REPUBLIC OF CHINA 
INTERNATIONAL 
CONSORTIA 
EXCHANGE 
PROGRAM. 
Part B of title VII of the Higher Education Act of 
1965 (20 U.S.C. 1138 et seq.) is amended— 
(1) by redesignating section 745 as section 746; 
(2) by inserting after section 744 the following 
new section: 
‘‘SEC. 745. UNITED STATES-PEOPLE’S REPUBLIC OF CHINA 
INTERNATIONAL 
CONSORTIA 
EXCHANGE 
PROGRAM. 
‘‘(a) PROGRAM AUTHORIZED.—From amounts ap-
propriated under section 746(b) for a fiscal year, the Di-
rector shall make grants to institutions of higher edu-
cation, or consortia of institutions of higher education, to 
establish and maintain international consortia exchange 
programs between postsecondary educational institutions 
in the People’s Republic of China and the United States. 
‘‘(b) APPLICATION.—Each institution of higher edu-
cation or consortium desiring a grant under this section 
shall submit an application to the Director at such time, 
in such manner, and accompanied by such additional in-
formation as the Director may require. 
‘‘(c) USE OF FUNDS.—An institution of higher edu-
cation or consortium receiving a grant under this section 
shall use the grant funds to foster exchanges with the Peo-
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ple’s Republic of China within the context of multilateral 
curricular development and training in a wide range of 
instructional disciplines. 
‘‘(d) APPLICABILITY OF REGULATIONS.—An institu-
tion of higher education or consortium receiving a grant 
under this section shall be subject to the same require-
ments and regulations that apply to recipients of grants 
who carry out student exchange programs under section 
744 . 
‘‘(e) GOAL.—The Director shall administer this sec-
tion with the goal of having as many students enrolled 
in the exchange program under this section as the total 
number of students in all of the student exchange pro-
grams authorized under section 744.’’; and 
(3) in section 746 (as redesignated by para-
graph (1))— 
(A) by striking ‘‘There are’’ and inserting 
the following: 
‘‘(a) IN GENERAL.—There are’’; 
(B) by inserting ‘‘(other than section 
745)’’ after ‘‘this part’’; and 
(C) by adding at the end the following sub-
section: 
‘‘(b) SECTION 745.— 
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