INVESTING IN HISTORICALLY BLACK COLLEGES AND UNIVERSITIES AND OTHER MINORITY-SERVING INSTITUTIONS.

SEC. 316. INVESTING IN HISTORICALLY BLACK COLLEGES AND UNIVERSITIES AND OTHER MINORITY-SERVING INSTITUTIONS.(a) Redesignation and Relocation.—The Act (20 U.S.C. 1001 et seq.) is further amended—(1) by redesignating part F of title III as part G of title III;(2) by redesignating part J of title IV (as added by section 802 of the College Cost Reduction and Access Act) as part F of title III, and moving such part so that such part follows part E of title III; and(3) by redesignating section 499A (as added by section 802 of such Act) as section 371.(b) Conforming Amendments.—Section 371 (as redesignated by subsection (a)(3)) is amended—(1) in subsection (b)(2)(C)(i), by striking “title III” each place the term appears and inserting “this title”; and(2) in subsection (c)(9)(F), by striking “title III” and inserting “this title”.(c) Availability of Funds.—Paragraph (1) of section 371(b) (as redesignated by subsection (a)(3)) is amended to read as follows:“(1) In general.—“(A) Provision of funds.—There shall be available to the Secretary to carry out this section, from funds in the Treasury not otherwise appropriated, $255,000,000 for each of the fiscal years 2008 and 2009. The authority to award grants under this section shall expire at the end of fiscal year 2009.“(B) Availability.—Funds made available under subparagraph (A) for a fiscal year shall remain available for the next succeeding fiscal year.”.