PUBLIC LAW 109–86—OCT. 7, 2005
119 STAT. 2057
(B) waive the allocation reduction for award year 2006– 2007 for an institution returning more than 10 percent of its allocation under any of those sections. (2) ELIGIBLE INSTITUTIONS FOR REALLOCATION.—An institution of higher education may receive a reallocation of excess allocations under this subsection if the institution— (A) participates in the program for which excess allocations are being reallocated; and (B)(i) is located in an area affected by a Gulf hurricane disaster; or (ii) has accepted for enrollment any affected students in academic year 2005–2006. (3) BASIS OF REALLOCATION.—The Secretary shall determine the manner in which excess allocations shall be reallocated to institutions under paragraph (1), and shall give additional consideration to the needs of institutions located in an area affected by a Gulf hurricane disaster. (4) ADDITIONAL WAIVER AUTHORITY.—Notwithstanding any other provision of law, in order to carry out this subsection, the Secretary may waive or modify any statutory or regulatory provision relating to the reallocation of excess allocations under subpart 3 of part A, part C, or part E of title IV of the Act in order to ensure that assistance is received by affected institutions for affected students. (c) AVAILABILITY OF FUNDS DATE EXTENSION.—Notwithstanding any other provision of law— (1) any funds available to the Secretary under sections 413A, 441, and 461 of the Act (20 U.S.C. 1070b; 42 U.S.C. 2751; 20 U.S.C. 1087aa) for which the period of availability would otherwise expire on September 30, 2005, shall be available for obligation by the Secretary until September 30, 2006 for the purposes of the programs authorized pursuant to subpart 3 of part A, part C, and part E of title IV of the Act, respectively; and (2) the Secretary may recall any funds allocated to an institution of higher education for award year 2004–2005 under section 413D, 442, or 462 of the Act that, if not returned to the Secretary as excess allocations pursuant to any of those sections, would otherwise lapse on September 30, 2005, and reallocate those funds in accordance with subsection (b)(1). SEC. 3. EMERGENCY DESIGNATION.
Section 2 of this Act is designated as an emergency requirement pursuant to section 402 of H. Con. Res. 95 (109th Congress). SEC. 4. TERMINATION OF AUTHORITY.
The provisions of this Act shall cease to be effective one year after the date of the enactment of this Act. SEC. 5. DEFINITIONS.
In this Act: (1) SECRETARY.—The term ‘‘Secretary’’ means the Secretary of Education. (2) AFFECTED STUDENT.—The term ‘‘affected student’’ means an individual who has applied for or received student financial assistance under title IV of the Act, and who—
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