123STA T . 3 57PUBLIC LA W 111 – 5 —FE B. 17 , 2 0 0 9mostrec e n t da taa v a il a b le satis f actor y tot h e S ec - retary ) are in p artic u lar need of assistance , based on alo w level of resources for school construction, a hi g h level of enrollment growth, or such other factors as the Secretary deems appropriate .‘ ‘ (3 ) AL L OCATI O NS TOC ER TAIN P OSSESSIONS. —T he amount to be allocated under paragraph ( 1 ) to any possession of the U nited States other than P uerto R ico shall be the amount which would have been allocated if all allocations under para- graph (1) were made on the basis of respective populations of individuals below the poverty line (as defined by the O ffice of M anagement and B udget). I nma k ing other allocations, the amount to be allocated under paragraph (1) shall be reduced by the aggregate amount allocated under this paragraph to possessions of the United States. ‘‘( 4 ) ALLOCATIONS F OR IN D IAN SC H OOLS.—In addition to the amounts otherwise allocated under this subsection, $20 0,000,000 for calendar year 200 9 , and $200,000,000 for cal- endar year 2010, shall be allocated by the Secretary of the Interior for purposes of the construction, rehabilitation, and repair of schools funded by the Bureau of Indian Affairs. In the case of amounts allocated under the preceding sentence, Indian tribal governments (as defined in section 7 701(a)(40)) shall be treated as q ualified issuers for purposes of this sub- chapter. ‘‘(e) C ARR Y O V EROFUN U SED L I M ITATION.—If for any calendar year— ‘‘(1) the amount allocated under subsection (d) to any State, e x ceeds ‘‘(2) the amount of bonds issued during such year which are designated under subsection (a) pursuant to such allocation, the limitation amount under such subsection for such State for the following calendar year shall be increased by the amount of such excess. A similar rule shall apply to the amounts allocated under subsection (d)(4). ’ ’. (b) CONFORMIN G AMENDMENTS.— (1) Paragraph (1) of section 5 4A(d) is amended by striking ‘‘or’’ at the end of subparagraph (C), by inserting ‘‘or’’ at the end of subparagraph ( D ), and by inserting after subparagraph (D) the following new subparagraph
‘‘( E ) a qualified school construction bond,’’. (2) Subparagraph (C) of section 54A(d)(2) is amended by striking ‘‘and’’ at the end of clause (iii), by striking the period at the end of clause (iv) and inserting ‘‘, and’’, and by adding at the end the following new clause: ‘‘(v) in the case of a qualified school construction bond, a purpose specified in section 54 F (a)(1).’’. (3) The table of sections for subpart I of part I V of sub- chapter A of chapter 1 is amended by adding at the end the following new item: ‘ ‘ Sec.54F . Qualif ie ds c ho ol co n s tr uction b onds. ’ ’. (c) EFFECTIVE DATE.—The amendments made by this section shall apply to obligations issued after the date of the enactment of this Act. 26USC54Anote. 26 USC 54. A p p licab ilit y .
