Hurricane Katrina Recovery Act of 2006 - Establishes within the Executive Office of the President the Office of the Hurricane Katrina Recovery Chief Financial Officer to be responsible for the efficient and effective use of federal funds in Hurricane Katrina recovery activities.
Directs the Secretary of Homeland Security to establish a National Family Locator System and ensure that each state's homeland security plan provides information regarding evacuating individuals with special needs.
Directs: (1) the Secretary of Health and Human Services to establish a volunteer corps to provide an adequate supply of health professionals in an emergency; and (2) the Director of the Centers for Disease Control and Prevention (CDC) to establish a database of health professionals to increase preparedness for federal emergencies.
Requires the HHS Secretary to make grants: (1) for constructing, modernizing, or repairing health facilities damaged by Hurricane Katrina; and (2) to assist individuals and specified entities in communities in affected areas that disproportionately experience health disparities.
Amends the Housing and Community Development Act of 1992 to require the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation to establish and manage an affordable housing fund to increase housing and home ownership for low-income families and in low-income areas and areas of chronic economic distress and for community or economic development activities in economically underserved areas. Authorizes appropriations for disaster relief in Katrina-affected areas through community development assistance programs.
Authorizes the appropriate federal banking agency and the National Credit Union Administration (NCUA) to forbear from taking any action otherwise required with respect to certain undercapitalized insured depository institutions or credit unions that are not significantly or critically undercapitalized and whose capital or net worth were reduced as a direct result of Hurricane Katrina.
Grants emergency authority to the Federal Deposit Insurance Corporation (FDIC) and the NCUA to indemnify an insured depository institution or credit union, respectively, for any loss suffered through cashing a check is presented by an individual who, as of August 28, 2005, resided in a qualified disaster area.
Increases 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. Establishes a government-wide goal for procurement contracts awarded to local businesses in Katrina-affected areas of 30% of that total value for each of FY2006-FY2007.
Requires at least 40% of workers performing Katrina-related recovery or reconstruction activities to be local residents.
Directs the Secretary of Education to: (1) award grants to three historically black colleges and universities in New Orleans, Louisiana, to assist in recruiting and retaining students and retaining faculty; and (2) carry out a program of assuming the obligation to repay a qualified loan under the Robert T. Stafford Federal Student Loan Program, and of canceling the obligation to repay a qualified loan under the William D. Ford Federal Direct Loan Program, for any borrower who returns to or enrolls in a Hurricane Katrina-affected institution in academic years between 2005 and 2008, who obtains an associate's degree or bachelor's degree from such institution, and who is not in default on a loan for which the borrower seeks forgiveness.
Amends the Internal Revenue Code to reduce the income threshold, and increase the percentage of earned income, used to calculate the refundable portion of the child tax credit. Allows certain taxpayers who maintained a primary residence in Alabama, Louisiana, or Mississippi an increase in the refundable portion of the child tax credit.
Expresses the sense of the Senate that the funds necessary to carry out this Act should be made available from otherwise unobligated amounts appropriated for hurricane relief.
[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.
<all>
Introduced in Senate
Read twice and referred to the Committee on Finance.
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