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SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Marine Renewable Energy Promotion 
Act of 2009''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Fund.--The term ``Fund'' means the Adaptive Management 
        and Environmental Fund established by section 3(c).
            (2) Marine renewable energy.--The term ``marine renewable 
        energy'' means energy from--
                    (A) waves, tides, and currents in oceans, 
                estuaries, and tidal areas;
                    (B) free flowing water in rivers, lakes, man made 
                channels, and streams; and
                    (C) differentials in ocean temperature or ocean 
                thermal energy conversion.
            (3) Secretary.--The term ``Secretary'' means the Secretary 
        of Energy.

SEC. 3. MARINE RENEWABLE ENERGY RESEARCH AND DEVELOPMENT.

    (a) Research and Development Program.--
            (1) In general.--The Secretary shall establish a marine 
        renewable energy research and development program that is 
        focused on--
                    (A) developing new marine renewable energy 
                technologies;
                    (B) reducing the manufacturing and operation costs 
                of marine renewable energy technologies;
                    (C) increasing the reliability and survivability of 
                marine renewable energy facilities;
                    (D) integrating marine renewable energy into the 
                national electric grid;
                    (E) identifying opportunities for cross-pollination 
                and development of economies of scale between offshore 
                wind and marine renewable energy sources;
                    (F) identifying the environmental impacts of marine 
                renewable energy and ways to address any negative 
                impacts; and
                    (G)(i) applying advanced systems engineering and 
                system integration methods to identify critical 
                interfaces and develop open standards for marine 
                renewable energy;
                    (ii) transferring the resulting intellectual 
                property to industry stakeholders as public information 
                through published interface definitions, standards, and 
                demonstration projects; and
                    (iii) developing incentives for industry to comply 
                with the standards.
            (2) Administration.--The program established under 
        paragraph (1) shall be separate from any wind and hydropower 
        program carried out by the Secretary.
    (b) Marine-Based Energy Device Verification Program.--
            (1) Establishment.--The Secretary shall establish a marine-
        based energy device verification program to provide a bridge 
        from the wave, tidal, current, or thermal energy capture device 
        design and development efforts underway across the industry to 
        commercial deployment of marine renewable energy devices.
            (2) Purposes.--The purposes of the program are to fund, 
        facilitate the development and installation of, and evaluate 
        marine renewable energy projects, in partnership with the 
        Electric Power Research Institute, the National Renewable 
        Energy Laboratory, the Pacific Northwest National Laboratory 
        Marine Sciences Laboratory, and the Sandia National 
        Laboratories, and in conjunction with universities and other 
        institutions of higher education, private business entities, 
        and other appropriate organizations, in order--
                    (A) to increase marine renewable energy experience; 
                and
                    (B) to build and operate enough candidate devices 
                to obtain statistically significant operating and 
                maintenance data.
            (3) Objectives.--The objectives of the program include--
                    (A) verifying the performance, reliability, 
                maintainability, and cost of new marine renewable 
                energy device designs and system components in an 
                operating environment;
                    (B) providing States, regulators, utilities, and 
                other stakeholders with a valid opportunity to test and 
                evaluate marine renewable energy technology in new 
                areas;
                    (C) documenting and communicating the experience 
                from those projects for the benefit of utilities, 
                independent power producers, other nonutility 
                generators, device suppliers, and others in the marine 
                renewable energy development community; and
                    (D) resolving environmental issues through robust 
                characterization, reliable impact prediction, effective 
                monitoring, development and use of adaptive management, 
                and informing engineering design to improve 
                environmental performance.
    (c) Adaptive Management and Environmental Fund.--
            (1) Findings.--Congress finds that--
                    (A) the use of marine renewable energy technologies 
                can reduce contributions to global warming;
                    (B) marine renewable energy technologies can be 
                produced domestically;
                    (C) marine renewable energy is a nascent industry; 
                and
                    (D) the United States must work to promote new 
                renewable energy technologies that reduce contributions 
                to global warming gases and improve domestic energy 
                production.
            (2) Fund.--
                    (A) Establishment.--There is established in the 
                Treasury of the United States a revolving fund, to be 
                known as the ``Adaptive Management and Environmental 
                Fund'', consisting of such amounts as are appropriated 
                to the Fund under subsection (d).
                    (B) Expenditures from fund.--
                            (i) In general.--Subject to clause (ii), on 
                        request by the Secretary, the Secretary of the 
                        Treasury shall transfer from the Fund to the 
                        Secretary such amounts as the Secretary 
                        determines are necessary to provide grants to 
                        eligible entities to assist the entities in 
                        complying with Federal, State, or local 
                        regulatory permit requirements through 
                        assessment and demonstration of the 
                        environmental effects of marine renewable 
                        energy projects (including environmental 
                        studies, design, fabrication, deployment, 
                        operating, monitoring, environmental 
                        mitigation, and decommissioning costs).
                            (ii) Administrative expenses.--An amount 
                        not exceeding 10 percent of the amounts in the 
                        Fund shall be available for each fiscal year to 
                        pay the administrative expenses necessary to 
                        carry out this subsection.
                    (C) Transfers of amounts.--
                            (i) In general.--The amounts required to be 
                        transferred to the Fund under this paragraph 
                        shall be transferred at least monthly from the 
                        general fund of the Treasury to the Fund on the 
                        basis of estimates made by the Secretary of the 
                        Treasury.
                            (ii) Adjustments.--Proper adjustment shall 
                        be made in amounts subsequently transferred to 
                        the extent prior estimates were in excess of or 
                        less than the amounts required to be 
                        transferred.
            (3) Eligibility.--
                    (A) In general.--To be eligible for a grant under 
                this subsection, an entity shall provide to the 
                Secretary a regulatory permit that includes conditions 
                for the removal of the marine renewable energy project 
                supported by the grant if the permitting authority 
                finds that the marine renewable energy project has an 
                unacceptable adverse impact on the environment.
                    (B) Administration.--A marine renewable energy 
                project shall not be required to be removed in the 
                absence of a finding by the permitting authority that 
                the project has an unacceptable adverse impact.
            (4) Public availability.--The results of any assessment or 
        demonstration conducted under this subsection shall be made 
        available to the public, except to the extent that the 
        assessment or demonstration contains information that is 
        protected from disclosure under section 552(b) of title 5, 
        United States Code.
            (5) Audit requirements.--
                    (A) In general.--Any entity that receives a grant 
                under this subsection shall--
                            (i) track the use of grant funds from the 
                        Fund; and
                            (ii) certify annually to the Secretary that 
                        the grant funds were used only for purposes 
                        authorized under this subsection.
                    (B) Procedures.--The Secretary shall establish 
                procedures to ensure that the Secretary is able to 
                oversee and audit the use of funds by eligible 
                entities.
                    (C) Annual audits.--The Secretary shall conduct an 
                audit, at least annually, of the use of grant funds 
                received under this subsection by each eligible entity.
                    (D) Ineligibility.--The Secretary may declare an 
                entity ineligible for a grant under this subsection on 
                a finding of inappropriate use of funding.
            (6) Sunset provision.--
                    (A) Report.--The Secretary shall submit a report to 
                the appropriate committees of Congress if the Secretary 
                determines that the technologies and activities 
                supported under this subsection have achieved a level 
                of maturity that is sufficient to enable the program 
                authorized under this subsection to cease.
                    (B) Termination.--The program authorized under this 
                subsection and the Fund shall cease to exist effective 
                on the date of submission of a report described in 
                subparagraph (A).
            (7) Administration.--The Secretary may use amounts in the 
        Fund to provide assistance to State resource agencies that are 
        processing applications for permits required for marine 
        renewables projects that have received assistance from the Fund 
        to assist staff with understanding and evaluating applications 
        and participating in the applicable Federal Energy Regulatory 
        Commission or Minerals Management Service regulatory process.
            (8) Environmental requirement.--Nothing in this section 
        eliminates or otherwise affects any requirement imposed under 
        the National Environmental Policy Act of 1969 (42 U.S.C. 4321 
        et seq.).
    (d) Authorization of Appropriations.--There is authorized to be 
appropriated to carry out this section $250,000,000 for each of fiscal 
years 2010 through 2021.
Marine Renewable Energy Promotion Act of 2009 - Requires the Department of Energy (DOE) to establish a marine renewable energy research and development program, separate from any DOE wind and hydropower program, focused on: (1) developing new marine renewable energy technologies; (2) reducing the manufacturing and operation costs of such technologies; (3) increasing the reliability and survivability of marine renewable energy facilities; (4) integrating marine renewable energy into the national electric grid; (5) identifying opportunities for cross pollination and development of economies of scale between offshore wind and marine renewable energy sources; (6) identifying the environmental impacts of marine renewable energy and ways to address negative impacts; (7) applying advanced systems engineering and system integration methods to identify critical interfaces and develop open standards for marine renewable energy; (8) transferring the resulting intellectual property to industry stakeholders as public information through published interface definitions, standards, and demonstration projects; and (9) developing incentives for industry to comply with such standards.

Requires DOE to establish a marine-based energy device verification program to provide a bridge from the wave, tidal, current, or thermal energy capture device design and development efforts underway across the industry to commercial deployment of marine renewable energy devices. Sets forth as purpose of the Program to fund, facilitate the development and installation of, and evaluate marine renewable energy projects, in partnership with the Electric Power Research Institute, the National Renewable Energy Laboratory, the Pacific Northwest National Laboratory Marine Sciences Laboratory, and the Sandia National Laboratories in order to: (1) increase marine renewable energy experience; and (2) build and operate enough candidate devices to obtain statistically significant operating and maintenance data.

Establishes an Adaptive Management and Environmental Fund to provide grants for complying with requirements through assessment and demonstration of the environmental effects of marine renewable energy projects.

SECTION 1. ENERGY ASSISTANCE FUND.

    (a) Definitions.--In this section:
            (1) Fund.--The term ``Fund'' means the Energy Assistance 
        Fund established by subsection (b).
            (2) Secretary concerned.--The term ``Secretary concerned'' 
        means, with respect to programs carried out by each Secretary--
                    (A) the Secretary of Agriculture;
                    (B) the Secretary of Energy;
                    (C) the Secretary of Housing and Urban Development;
                    (D) the Secretary of Transportation; and
                    (E) the Administrator of the Small Business 
                Administration.
    (b) Establishment.--There is established in the Treasury of the 
United States a revolving fund, to be known as the ``Energy Assistance 
Fund'', consisting of such amounts as are appropriated to the Fund 
under subsection (h)(1).
    (c) Expenditures From Fund.--
            (1) In general.--Subject to paragraph (2), on request by 
        the Secretary concerned, the Secretary of the Treasury shall 
        transfer from the Fund to the Secretary concerned such amounts 
        as the Secretary concerned determines are necessary to provide 
        to carry out 1 or more qualified purposes described in 
        subsections (d), (e), and (f).
            (2) Administrative expenses.--An amount not exceeding 10 
        percent of the amounts in the Fund shall be available for each 
        fiscal year to pay the administrative expenses necessary to 
        carry out this section.
    (d) Low-Interest Loan Guarantees for Purchase and Installation of 
Qualifying Energy Efficient Property.--
            (1) In general.--To the extent that the Secretary concerned 
        has authority under other law to make or guarantee loans or 
        grants to persons to purchase and install qualifying property, 
        the Secretary concerned may guarantee loans made to eligible 
        United States persons for the purchase and installation of 
        qualifying property.
            (2) Qualifying property.--For the purpose of paragraph (1), 
        qualifying property means--
                    (A) any component which constitutes a qualified 
                energy efficiency improvement (as defined in section 
                25C(c) of the Internal Revenue Code of 1986);
                    (B) property to heat water for use in a dwelling 
                unit located in the United States and used a residence 
                by the person if at least half of the energy used by 
                such property for such purpose is derived from the sun;
                    (C) property which uses solar energy to generate 
                electricity for use in a dwelling unit located in the 
                United States and used by the person (in the case of an 
                individual) as a residence;
                    (D) qualified fuel cell property (as defined in 
                section 48(c)(1) of that Code) installed on or in 
                connection with a dwelling unit located in the United 
                States and used as a principal residence (within the 
                meaning of section 121 of that Code) by the person (in 
                the case of an individual); or
                    (E) a compliant stove (as defined in section 
                25E(c)(2) of that Code) which--
                            (i) is installed in a dwelling unit located 
                        in the United States; and
                            (ii) replaces a noncompliant stove (as 
                        defined in section 25E(c)(3) of that Code) used 
                        in such dwelling unit.
            (3) Eligibility.--To be eligible to receive a loan 
        guarantee under this subsection, a person that is an individual 
        shall have a household income of not to exceed 115 percent of 
        the national median household income, as determined by the 
        Secretary concerned.
            (4) Use of loan.--The recipient of a loan guaranteed under 
        this subsection may use the loan only to fund improvements to 
        property owned by, and for the benefit of, the recipient.
            (5) Amount.--The amount of a loan made to a person that is 
        guaranteed under this subsection shall equal the lesser of--
                    (A) 90 percent of the difference between--
                            (i) the cost incurred by the person for the 
                        purchase and installation of the qualifying 
                        property, as approved by the Secretary; and
                            (ii) the amount of any credit allowable to 
                        the person with respect to such property under 
                        section 25C, 25D, or 25E, of the Internal 
                        Revenue Code of 1986; or
                    (B) $30,000.
            (6) Term of loans.--A loan guaranteed under this subsection 
        shall have a term of not to exceed 15 years.
    (e) Low-Interest Loan Guarantees for Purchase and Installation of 
Idling Reduction and Advanced Insulation for Heavy Trucks.--
            (1) In general.--To the extent that the Secretary concerned 
        has authority under other law to make or guarantee loans or 
        grants to persons to purchase and install idling reduction 
        devices described in section 4053(9) of the Internal Revenue 
        Code of 1986 or advanced insulation described in section 
        4053(10) of such Code, the Secretary concerned may guarantee 
        loans made to United States persons for the purchase and 
        installation of such idling reduction devices and advanced 
        insulation.
            (2) Use of loan.--The recipient of a loan guaranteed under 
        this subsection may use the loan only to fund improvements to 
        property owned by, and for the benefit of, the recipient.
            (3) Amount.--
                    (A) In general.--The amount of a loan made to a 
                person that is guaranteed under this subsection shall 
                equal 90 percent of the difference between--
                            (i) the cost incurred by the person for the 
                        purchase and installation of the idling 
                        reduction devices and advanced insulation 
                        described in subsection (a), as approved by the 
                        Secretary concerned; and
                            (ii) 12 percent of the amount for which the 
                        idling reduction devices or advanced insulation 
                        was sold.
                    (B) Special rules.--In the case of any property 
                described in paragraphs (2), (3), or (4) of section 
                4051(a) of the Internal Revenue Code of 1986, the 
                amount determined under subparagraph (A) shall be zero.
                    (C) Determination of price.--Rules similar to the 
                rules of section 4052(b) of the Internal Revenue Code 
                of 1986 shall apply for purposes of subparagraph (B).
            (4) Loan terms.--The Secretary concerned shall establish 
        terms for loans guaranteed under this subsection, as determined 
        by the Secretary concerned.
    (f) Low-Interest Loan Guarantees for Purchase and Installation of 
Alternative Refueling Stations.--
            (1) In general.--To the extent that the Secretary concerned 
        has authority under other law to make or guarantee loans or 
        grants to persons for the purchase and installation of any 
        qualified alternative fuel vehicle refueling property (as 
        defined in section 30C(c) of the Internal Revenue Code of 
        1986), the Secretary concerned may guarantee loans made to 
        United States persons for the purchase and installation of any 
        such qualified alternative fuel vehicle refueling property 
        placed in service by the person during a taxable year.
            (2) Use of loan.--The recipient of a loan guaranteed under 
        this subsection may use the loan only to fund improvements to 
        property owned by, and for the benefit of, the recipient.
            (3) Amount.--The amount of a loan made to a person that is 
        guaranteed under this subsection shall equal 90 percent of the 
        difference between--
                    (A) the cost incurred by the person for the 
                purchase and installation of the qualified alternative 
                fuel vehicle refueling property described in paragraph 
                (1), as approved by the Secretary concerned; and
                    (B) the amount of any credit allowable to the 
                person under section 30C of the Internal Revenue Code 
                of 1986.
            (4) Loan terms.--The Secretary concerned shall establish 
        terms for loans guaranteed under this subsection, as determined 
        by the Secretary concerned.
    (g) Transfers of Amounts.--
            (1) In general.--The amounts required to be transferred to 
        the Fund under this section shall be transferred at least 
        monthly from the general fund of the Treasury to the Fund on 
        the basis of estimates made by the Secretary of the Treasury.
            (2) Adjustments.--Proper adjustment shall be made in 
        amounts subsequently transferred to the extent prior estimates 
        were in excess of or less than the amounts required to be 
        transferred.
    (h) Funding.--
            (1) Mandatory funding.--
                    (A) In general.--Notwithstanding any other 
                provision of law, on October 1, 2009, out of any funds 
                in the Treasury not otherwise appropriated, the 
                Secretary of the Treasury shall transfer to the Fund 
                for the cost of loans to carry out the purposes of the 
                Fund $1,000,000,000, to remain available until 
                expended.
                    (B) Receipt and acceptance.--The Fund shall be 
                entitled to receive, shall accept, and shall use to 
                carry out the purposes of the Fund the funds 
                transferred under subparagraph (A), without further 
                appropriation. 
            (2) Authorization of appropriations.--
                    (A) In general.--In addition to the amount made 
                available under paragraph (1), there are authorized to 
                be appropriated to the Fund such sums as are necessary 
                to carry out the purposes of the Fund.
                    (B) Additional funding.--To the extent that a 
                Secretary described in subsection (a) has authority 
                under other law to make or guarantee loans or grants 
                described in subsection (d)(1), (e)(1), or (f)(1), in 
                addition to any other funds made available to carry out 
                that authority under any other provision of law, there 
                are authorized to be appropriated to the Secretary such 
                sums as are necessary for the Secretary to provide 
                additional loans, loan guarantees, or grants under that 
                authority.
Establishes in the Treasury the Energy Assistance Fund.

Directs the Secretary of the Treasury, upon request of the Secretary concerned, to transfer amounts from the Fund to that Secretary to make or guarantee low-interest loans or grants to U.S. persons to purchase and install: (1) qualifying energy efficient property in their principal dwelling (i.e., solar powered property to heat water or generate electricity, fuel cells, or compliant stoves); (2) idling reduction devices or advanced insulation in heavy trucks; and (3) qualified alternative fuel vehicle refueling property at a station.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Vietnam Education Foundation 
Amendments Act of 2008''.

SEC. 2. TRANSFER OF THE FOUNDATION TO THE DEPARTMENT OF STATE.

    (a) In General.--Section 204 of the Vietnam Education Foundation 
Act of 2000 (22 U.S.C. 2452 note) is amended to read as follows:

``SEC. 204. ESTABLISHMENT.

    ``There is established, within the Bureau of Educational and 
Cultural Affairs of the Department of State, the Vietnam Education 
Foundation (referred to in this title as the `Foundation').''.
    (b) Replacement of Board of Directors With Advisory Committee.--
Section 205 of such Act is amended to read as follows:

``SEC. 205. VIETNAM EDUCATION FOUNDATION ADVISORY COMMITTEE.

    ``(a) Establishment.--
            ``(1) In general.--There is established a Vietnam Education 
        Foundation Advisory Committee (referred to in this section as 
        the `Advisory Committee'), which shall provide advice to the 
        Secretary and the Assistant Secretary for Educational and 
        Cultural Affairs regarding the Foundation's activities.
            ``(2) Membership.--The Advisory Committee shall be composed 
        of 7 members, of whom--
                    ``(A) 3 shall be appointed by the Secretary;
                    ``(B) 1 shall be appointed by the majority leader 
                of the Senate;
                    ``(C) 1 shall be appointed by the minority leader 
                of the Senate;
                    ``(D) 1 shall be appointed by the Speaker of the 
                House of Representatives; and
                    ``(E) 1 shall be appointed by the minority leader 
                of the House of Representatives.
            ``(3) Appointment of incumbent members of board of 
        directors.--Members appointed to the Advisory Committee under 
        paragraph (2) may include individuals who were members of the 
        Board of Directors of the Foundation on the date immediately 
        preceding the date of the enactment of the Vietnam Education 
        Foundation Amendments Act of 2008.
    ``(b) Supervision.--The Foundation shall be subject to the 
supervision and direction of the Secretary, working through the 
Assistant Secretary for Educational and Cultural Affairs, and in 
consultation with the Advisory Committee established under subsection 
(a).''.
    (c) Fellowship Program.--Section 206(a) of such Act is amended--
            (1) in paragraph (1)(A), by striking ``to study at 
        institutions of higher education in the United States at 
        graduate and post-graduate levels'' and inserting ``for post-
        secondary studies at institutions of higher education in the 
        United States'';
            (2) in paragraph (2)--
                    (A) by striking ``may include funding to improve'' 
                and inserting the following: ``may include funding to--
                    ``(A) improve''; and
                    (B) by striking the period at the end and inserting 
                the following: ``; and
                    ``(B) prepare the fellowship recipient for post-
                secondary education in any field described in paragraph 
                (1)(A).''; and
            (3) by adding at the end the following:
            ``(3) Priority for basic sciences.--In awarding fellowships 
        under this subsection, the Foundation shall give priority to 
        individuals described in paragraph (1)(A) who are studying the 
        basic sciences.''.
    (d) Conforming Amendments.--Such Act is amended--
            (1) in section 203--
                    (A) by striking paragraph (1);
                    (B) by redesignating paragraphs (2) and (3) as 
                paragraphs (1) and (2), respectively; and
                    (C) by inserting after paragraph (2), as 
                redesignated, the following:
            ``(3) Secretary.--The term `Secretary' means the Secretary 
        of State.'';
            (2) in section 206(e), by striking ``of the Board'' and 
        inserting ``promulgated by the Secretary'';
            (3) in section 208--
                    (A) in subsection (a)--
                            (i) in the subsection heading, by striking 
                        ``Board'' and inserting ``Secretary''; and
                            (ii) by striking ``Board'' each place it 
                        appears and inserting ``Secretary''; and
                    (B) in subsection (d), by striking ``Board'' and 
                inserting ``Secretary''; and
            (4) in section 209(b), by striking ``Board'' and inserting 
        ``Secretary''.
    (e) Mutual Educational and Cultural Exchange Act of 1961.--Section 
112(a) of the Mutual Educational and Cultural Exchange Act of 1961 (22 
U.S.C. 2460(a)) is amended--
            (1) in paragraph (8), by striking ``and'' at the end;
            (2) in paragraph (9), by striking the period at the end and 
        inserting ``; and''; and
            (3) by adding at the end the following:
            ``(10) programs administered by the Vietnam Education 
        Foundation.''.
    (f) Transfer of Functions.--All functions and assets of the Vietnam 
Education Foundation are transferred to the Bureau of Educational and 
Cultural Affairs of the Department of State. The Assistant Secretary 
for Educational and Cultural Affairs may hire personnel who were 
employed by the Vietnam Education Foundation on the date before the 
date of the enactment of this Act, and such other personnel as may be 
necessary to support the Foundation, in accordance with part III of 
title 5, United States Code.

SEC. 3. AMERICAN RESEARCH COLLEGE IN VIETNAM.

    (a) Grants Authorized.--The Secretary of State, acting through the 
Assistant Secretary for Educational and Cultural Affairs, is authorized 
to award 1 or more grants to institutions of higher education (as 
defined in section 101(a) of the Higher Education Act of 1965 (20 
U.S.C. 1001(a))), which shall be used to participate in a partnership 
with the Government of the Socialist Republic of Vietnam to establish 
an American Research College in Vietnam. The purpose of the American 
Research College shall be to provide a high quality general education 
to Vietnamese undergraduate students.
    (b) Application.--
            (1) In general.--Each institution of higher education 
        desiring the grant under this section shall submit an 
        application to the Secretary of State at such time, in such 
        manner, and accompanied by such information as the Secretary 
        may reasonably require.
            (2) Competitive basis.--Each grant authorized under 
        subsection (a) shall be awarded on a competitive basis.
    (c) Source of Grant Funds.--The Secretary of State may use funds 
made available to the Vietnam Education Foundation under section 207(c) 
of the Vietnam Education Foundation Act of 2000 (22 U.S.C. 2452 note) 
for the grant awarded under this section.
    (d) Limitation.--The Secretary of State shall encourage the 
Government of the Socialist Republic of Vietnam to make an appropriate 
financial or in-kind contribution to establish and maintain the college 
established with grant funds awarded under this section.

SEC. 4. EFFECTIVE DATE.

    This Act and the amendments made by this Act shall take effect on 
the date that is 90 days after the date of the enactment of this Act.

Vietnam Education Foundation Amendments Act of 2008 - Amends the Vietnam Education Foundation Act of 2000 to establish the Vietnam Education Foundation within the Bureau of Educational and Cultural Affairs of the Department of State. (Current law establishes the Foundation as an independent establishment in the executive branch.) Transfers all functions and assets of the Foundation to the Bureau.

Replaces the existing Board of Directors with a Vietnam Education Foundation Advisory Committee.

Revises fellowship provisions to provide: (1) fellowships for post-secondary studies at U.S. institutions of higher education (current law provides fellowships for graduate and postgraduate levels); and (2) fellowship priority for students studying the basic sciences.

Authorizes the Secretary of State, through the Assistant Secretary for Educational and Cultural Affairs, to award grants to institutions of higher education for a partnership with the government of the Socialist Republic of Vietnam to establish an American Research College in Vietnam for undergraduate studies.