“ The Secretary may not obligate more than 50 percent of the funds contained in the Rural Development Disaster Assistance Fund for any one disaster unless the Secretary declares that there is a specific and extreme need that additional funds must be provided in response to such disaster at time of the obligation. ”

“ Application of Waiver Authority to Areas Affected in 2008.— The authority of the Secretary of Education under section 105 of subtitle A of title IV of division B of Public Law 109-148 (119 Stat. 2797) , as amended by subsection (a) , may be exercised with respect to an entity in an area affected by hurricanes, floods, and other natural disasters occurring during 2008 for which the President declared a major disaster under title IV of the Robert T. Stafford Disaster Relief and Emergency Assistance Act of 1974. ”

“ Provided further, That the expenditure of funds as provided above may be made without regard to individual amounts or purposes and any reallocation of funds that is necessary to accomplish the established goals is authorized subject to the approval of the Committees on Appropriations of the House of Representatives and the Senate: Provided further, That the Assistant Secretary of the Army for Civil Works shall provide a monthly report to the Committees on Appropriations detailing the allocation and obligation of these funds, beginning not later than 60 days after enactment of this Act. ”